One Type of Post-Quantum Cryptography Is Most Popular. Why Is Crypto Trying Out Three?
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At the end, there are, like, three main options. Either you don't do anything, and if you do that, as soon as there is the quantum computer capable of working cryptography, they will be stolen and create, like, a liquidity market problem, or you have all your freedom. You say that these coins cannot be spent by anyone anymore. And in this case, that can be seen as a private property problem. The people that are very strong on this one will be against this one. And the third option is the same. And if you do that, you don't have like a 21,000,000 Bitcoin anymore, but something like 16 millions
Hi, everyone. Welcome to Unchained, your no hype resource for all things crypto. I'm your host, Laura Shin. Thanks for joining this livestream, but quick note, it was prerecorded just a few hours before. And I will take a quick word from the sponsors who make this show possible. This episode is brought to you by one inch Aqua, the shared liquidity layer from one inch. Back multiple liquidity positions with one wallet balance and keep your tokens in your wallet until a swap fills. See how it works at 1inch.com/aqua. Today's topic is preparing crypto to become quantum resistant. Here to discuss
Great to be here. Thank you.
Yeah. Excited to chat. So you both have recent news about your respective projects making moves toward becoming quantum safe. And you both have to, like, obviously approach it from different directions. Charles from a hardware angle, Elia from the chain angle, which I'm guessing is probably more software related. Before we get, like, into the nitty gritty of everything that's going on, I think on my show, the last time we talked about quantum issues was a few months ago. And I know, obviously, this space changes pretty quickly. So I would just love to hear you guys kind of give an assessment o
Sure. Yeah. I think we've had quite a few updates over past eight months in in the crypto space. It started with kind of acceleration of the quantum computing technology as well as algorithmic improvements on effectively recovering private keys out of public keys for for the cryptography. And so that was a big moment, I think. That was, like, April when there's a pay March, April when the paper out of Google came out where they didn't even present the algorithm. They were so kind of concerned with this that they present a zero knowledge proof that algorithm exists. Was the
last time we covered that on the show. Yeah.
Yeah. The interesting thing since then happened that EigenLayer launched a competition for everybody's AI to compete and to find that algorithm. And they effectively found it and beat it within, I think, forty eight hours. And since then, it's been running kind of continuously improving. So what this means is really the like historically the the Schnorr algorithm, which kind of this like Damocles, sword over cryptography. Usually it was like very far advanced requires a lot of computing power, from quantum computer that can was keep coming closer and closer while obviously the quantum computin
Okay. So Charles, do you want to give your assessment on where crypto is at?
Yeah, no, I completely agree with what Eliade just said. I think the first event that put like, post country migration in front and center of everything was the NIST, like, recommendation and mandate to migrate towards post country cryptography, and that was in 2024. And at the time, the main reaction was, okay, we will migrate at some point, but there was nothing urgent because we are nowhere close to build a quantum computer. So that was really the case. And as Ilya
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