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About this paper
Aleksei Kodukhov
This paper analyzes the security challenges posed by quantum computing to existing cryptocurrency infrastructure, quantifying the economic exposure to quantum attacks across major platforms. It reviews post-quantum cryptographic migration strategies for Bitcoin, Ethereum, and Solana, outlining technical pathways to mitigate future threats.
Key insights
- Shor's algorithm poses the dominant quantum threat, capable of breaking all widely deployed asymmetric cryptographic schemes, enabling private key derivation from public keys.
- At-rest attacks, targeting public keys exposed over long durations (e.g., dormant wallets, validator keys, Solana's Ed25519 accounts), are identified as the most immediate and realistic threat.
- Rational quantum attackers are likely to prioritize high-value targets like dormant whale wallets, exchange hot wallets, and critical infrastructure, potentially triggering cascading market instability.
Summary by alphaXiv.
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