Bitcoin · Hong Kong · Bitcoin Magazine
No Fork Required: Bitcoin’s First Quantum-Safe Transaction Just Happened
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The first post-quantum Bitcoin transaction was broadcast this week.
Key facts
- Speaking at Bitcoin Asia in Hong Kong on Thursday, Damian Chen, VP of growth at the Starknet Foundation, demonstrated how funds vulnerable to future quantum attacks can be secured without requiring
- The transaction happened using a method created by StarkWare researcher Avihu Levy
- Touting Quantum safe Bitcoin transactions, dubbed “QSB”, to institutions, Chen said that even if attackers have a fund’s private keys, they couldn’t make a fraudulent transfer
- Should fund managers dealing in Bitcoin be worried about the threat of quantum computing
Summary
Should fund managers dealing in Bitcoin be worried about the threat of quantum computing? The short answer is yes, but there’s time to prepare and solutions are already being found. Speaking at Bitcoin Asia in Hong Kong on Thursday, Damian Chen, VP of growth at the Starknet Foundation, demonstrated how funds vulnerable to future quantum attacks can be secured without requiring a network-wide fork, thanks to the company’s latest solution. “This is a monumental moment,” Chen said. The transaction happened using a method created by StarkWare researcher Avihu Levy.