Coringa Nakamoto

The Quantum Threat to Bitcoin: Assessing the Risk to Digital WalletsThe security of the Bitcoin network relies on cryptographic algorithms that, until now, have been considered practically unbreakable. However, the rapid advancement of Quantum Computing introduces a theoretical "Shor’s Algorithm" threat that could potentially compromise the foundations of blockchain security. 1. The Vulnerability: ECDSA and Public KeysBitcoin uses the Elliptic Curve Digital Signature Algorithm (ECDSA) to generate public keys from private keys . In a pre-quantum world, deriving a private key from a public key would take traditional supercomputers billions of years. A sufficiently powerful quantum computer, however, could perform this calculation in minutes. The primary risk factors include:Public Key Exposure: Only addresses that have previously sent a transaction have their public keys visible on the ledger. P2PK (Pay-to-Public-Key): Older addresses (including many of Satoshi Nakamoto’s original coins) are more vulnerable because their public keys are directly exposed. 2. How it Affects Your WalletThe impact on Bitcoin wallets varies depending on how the address was generated and used:Wallet/Address TypeRisk LevelReasonP2PKH (Legacy/Reused)HighIf a public key is already known to the network, a quantum attacker could derive the private key and drain the funds.Unused/Hashed AddressesLow/ModerateModern addresses are hashed. A quantum computer cannot "see" the public key until a transaction is initiated.In-Flight TransactionsCriticalThe most dangerous window is when a transaction is broadcast but not yet mined. An attacker could intercept the public key and "front-run" the transaction with a higher fee. 3. The "Quantum-Resistant" SolutionThe Bitcoin community is not standing still. The transition to a Post-Quantum Cryptography (PQC) standard would likely involve a "soft fork" or "hard fork" to implement new signature schemes, such as:Lamport Signatures: A method of creating digital signatures that is resistant to quantum attacks.Quantum-Resistant Soft Forks: Proposals to allow users to migrate funds to new, secure address types. 4. Conclusion: Is it Time to Panic?Most experts agree that a "Cryptographically Relevant Quantum Computer" (CRQC) is still 10 to 30 years away. While the threat is real, the Bitcoin protocol is upgradeable. The main challenge will be the migration of "lost" or "zombie" coins (like the Genesis block funds) which cannot be moved by their original owners to new quantum-secure addresses.

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Good Morning NOSTR. The great day for send zaps and write notes. Buy sats and stack them in a secure location.

God morning community. It´s a great day to send zaps ando write notes, about crypto.

Quantum Computing and Bitcoin: A Looming Threat? The advent of quantum computing presents a fascinating, yet potentially disruptive, challenge to the foundations of modern cryptography, including those underpinning Bitcoin. While still in its early stages, the theoretical capabilities of quantum computers, particularly Shor's algorithm, could one day threaten the security of public-key cryptography (like the ECDSA used in Bitcoin). Shor's algorithm has the potential to efficiently factor large numbers, which is the mathematical basis for the security of many cryptographic systems. If a sufficiently powerful quantum computer were to be developed, it could theoretically be used to derive the private key of a Bitcoin address from its public key. This would allow an attacker to spend funds from that address without authorization. However, it's crucial to understand the current state of affairs: * Timeline: The development of a quantum computer powerful enough to break Bitcoin's cryptography is still many years, if not decades, away. Current quantum computers are limited in scale and error-prone. * Mitigation: The Bitcoin community and cryptographers are actively researching and developing quantum-resistant cryptographic algorithms. These "post-quantum" cryptography solutions aim to secure systems against attacks from quantum computers. * Adaptability: Bitcoin's open-source and decentralized nature means that it can, and likely will, adapt to future threats. Upgrades to the protocol to incorporate quantum-resistant cryptography are a probable long-term solution. While the threat is real in theory, it's not an immediate concern. Continuous research, development, and community vigilance will be key to ensuring Bitcoin's long-term security in a post-quantum world.

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Today the Cryptomonster I'm presenting to you is the Nakamonster!!! Contribute to my work!

The Cryptomonsters Collection!!! Notices: The cryptomonster collection will continue to be posted. However, those who also wish to have the opportunity to participate in the treasure hunt with this collection must send 100 zaps to this post. Only those who contribute will have priority in receiving the Cryptomonsters. This will give them a random chance to receive not only the basic cards but also the ones with BTC prizes and to redeem them before others. Remember that the prize-winning cards are those with a hidden TH in the image; identify and claim your prize. *Prizes will only be paid to the first person to redeem them!!!! Good luck and happy collecting everyone!

Transforming Receipts into BTC! Install the Méliuz app. Create your account in the app. When you make any purchase, ask for the fiscal receipt. In the app, go to "Notas" (Receipts), take a picture of the receipt, upload it, and wait for it to be validated. If you have Méliuz Premium, each receipt gives you R1.00inyouraccountbalance.Ifyoudon ′ thavePremium,thevalueisR0.20. Now, redeem the amount to your account, then make a Pix transfer to the BIPA app using Bitpix, and voilà, the amount is converted to BTC. As a thank you, send me some zaps for the tutorial!