Naoris CEO warns: Bitcoin threat through quantum computing already reality

Naoris CEO warns: Bitcoin threat through quantum computing already reality

The cryptography around decentralized systems such as Bitcoin and the blockchain is considered very safe. However, the hacker and Naoris CEO David Carvalho warns: quantum computing is a real threat.

Hacker and Naoris CEO David Carvalho recently warned in an interview with CoinTelegraph. According to his assessment, the crypto industry would have to convert to prepare for the threat with powerful quantum computers. The crypto expert compares the technology with the asteroid that once wiped out the dinosaurs: “Cryptography behind almost every blockchain is just as weak as the rest of the cryptography in the world. The quantum computers will destroy everything, just as the meteorites have destroyed the dinosaurs.”

However, the idea that quantum computing could be a danger to the crypto verse is not new. Only this opportunity seemed to be very far in the future. With the current quantum hype, however, the scenario no longer seems that far away. This is particularly about crypto encryption, which could possibly be cracked by high-performance quantum computers.

Quantum computing in connection with AI could threaten crypto security

As CoinTelegraph writes, tech groups such as Google and governments would therefore already work on new algorithms and advise new algorithms to newly controlled cryptosystems. For example, the US foreign intelligence agency NSA would already encourage its contractual partners to make their cryptography “quantity-safe” by 2035.

The security mechanisms of the Bitcoin such as the SHA-256-hash function or the Elliptic Curve Digital Signature Algorithm (ECDSA), which serve to protect crypto, are still intact. However, Carvalho warns that the progress in quantum technology could be exponentially. Especially in combination with the quick advance of artificial intelligence.

Already now there would be cybercriminals that have started to collect encrypted blockchain data in the hope of being able to crack them later. If the technology is finally developed far enough, “a decade of secrets could be deciphered within minutes,” said the expert.

It would be conceivable, for example, that there was sudden movement with a ten-year-old Bitcoin wallet. According to Carvalho, one could only see that cryptos had been moved, but not who initiated this or how it happened.

AI has already arrived in the area of cyber security. So the technology would be used to discover attacks or check smart contracts. The same tools that served to protect security could also be used by cybercriminals for the opposite. If quantum computing and AI would meet, this could lead to a “silent collapse”, says the Naoris boss: “This is not just about the theft of coins. It is about undermining the trust in the invisible way. Whole blockchain could be compromised, governance systems are fake, and nobody would know who did it or how.”

Bitcoin – not really deceive?

Bitcoin & Co. are also threatened by another fact. So cryptocurrencies are decentralized systems, but in reality it is the case that the infrastructure behind it is often still centrally organized. Carvalho judges CoinTelegraph: “Decentralization on paper is great, but if everyone trusts the few backbones routes or a handful of APIs from third -party providers, the game has already been lost.” For example, validator networks, cloud platforms or mining pools would represent possible bottlenecks that could be used by cybercrime with the right technology. If only a single cloud provider, which would host numerous nodes, would be compromised, the entire network could be damaged – even if the protocol itself was actually decentralized.

The crypto company Naoris specializes in preparing cryptosystems for the future, also in the face of the risk of quantum computing. According to its own website, the company itself uses a swarm AI to use data analysis to uncover weaknesses, especially in traditional systems.

Editor finance.net