The work addresses a possible future threat to Bitcoin. A sufficiently powerful quantum computer could use a wallet’s exposed public key to work out its private key and steal the coins. StarkWare’s method adds a form of protection based on hashes, which are expected to withstand that attack. It fits within Bitcoin’s existing rules, so trying it did not require the network to approve an upgrade.
As such, the method is an emergency option for moving eligible coins if the quantum threat arrives before Bitcoin adopts a broader fix. Using it widely would be expensive at $320 of computing per transaction — and a lower bill could make the option more practical.
Read More: Quantum-safe bitcoin now possible without a soft fork, but costs $200 a pop, new research shows
The $66 figure remains an estimate drawn from a test of the computation. The improved code has not been shown preparing another transaction mined on Bitcoin.
Applying the…
