Bitcoin Developer Proposes a Quantum Trap for Hackers
What if somebody hacked your Bitcoin pockets and ended up paying you for the theft? That is the thought behind a proposal from Bitcoin Core developer Cory Fields.
As Bitcoin prepares for Q-Day, when highly effective quantum computer systems may break its present cryptography, Fields needs to make stealing susceptible cash a pricey gamble.
On November 4, he launched “quantum landmines” to the Bitcoin Development Mailing List. The thought is surprisingly easy: let Bitcoin house owners secretly put together traps that punish future hackers.
How Could a Bitcoin Hacker Lose Their Own Money?
Imagine you personal 1 BTC in an outdated pockets susceptible to quantum assaults.
Before Q-Day, you create a hidden proof of possession inside a tiny quantum-safe Bitcoin output. Nobody else can see that proof.
- Hackers should give Bitcoin to steal Bitcoin: Under the proposed guidelines, as soon as quantum assaults grow to be doable, anybody making an attempt to maneuver that susceptible 1 BTC should present one other 1 BTC as collateral. Both quantities then face a ready interval, doubtlessly 30 days.
- Hackers can steal, however you’re going to get it again: If a quantum hacker steals your Bitcoin, you may reveal your secret proof throughout that window, get better your BTC and seize the hacker’s deposit.
The hacker loses cash. You may stroll away with twice your unique holdings.
Fields argues that attackers would grow to be “cautious of stealing cash as they might be secretly guarded by mines.”
But There’s a Major Problem for Bitcoin Holders
The blockchain can not distinguish a hacker from a respectable proprietor. So everybody transferring susceptible Bitcoin would face the identical collateral requirement.
Someone holding 10 BTC in an outdated pockets may want one other 10 BTC in quantum-safe funds simply to maneuver their financial savings.
There is one other complication – dormant Bitcoin, including Satoshi-era holdings.
If their non-public keys are misplaced, no one can put together a landmine. Fields proposes various public sale mechanisms the place bidders may problem hackers and declare their deposits. One model would completely destroy the susceptible cash.
That raises tough questions on possession and Bitcoin’s provide.
For now, the controversy exposes a tough trade-off: defending Bitcoin from future hackers may make transferring older cash far dearer for respectable house owners.
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