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#231 Ajay Prakash & Gavin Brennen: Qubit Protocol – Quantum Computing & The Coming Threat to Crypto

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Manage episode 203538094 series 2058430
Content provided by Epicenter - Weekly Podcast on Blockchain, Ethereum, Bitcoin and Distributed Technologies. All podcast content including episodes, graphics, and podcast descriptions are uploaded and provided directly by Epicenter - Weekly Podcast on Blockchain, Ethereum, Bitcoin and Distributed Technologies or their podcast platform partner. If you believe someone is using your copyrighted work without your permission, you can follow the process outlined here https://player.fm/legal.
Support the show, consider donating: BTC: 1CD83r9EzFinDNWwmRW4ssgCbhsM5bxXwg (https://epicenter.tv/tipbtc) BCC: 1M4dvWxjL5N9WniNtatKtxW7RcGV73TQTd (http://epicenter.tv/tipbch) ETH: 0x8cdb49ca5103Ce06717C4daBBFD4857183f50935 (https://epicenter.tv/tipeth) With the advent of mature quantum technologies, many of the critical cryptographic protocols which secure the Internet, financial transactions and even military secrets may become susceptible to new attack vectors. For instance, while it may take a computer millions of years to decipher a public key’s corresponding private key, a sufficiently powerful quantum computer might achieve this in a reasonable amount of time. With this reality looming over us, many in the blockchain space worry that someone with access to a quantum computer might one day have the ability to steal their hard-earned crypto. We’re joined by Ajay Prakash and Gavin Brennen, founders of the Qubit Protocol, a decentralized blockchain-enabled governance protocol that is meant to select and fund the best startups in the quantum world. As a co-author of the recent paper “Quantum attacks on Bitcoin, and how to protect against them,” Gavin walks us through the primary threats that quantum computing poses on Bitcoin. Among the major vulnerabilities are hashing functions and Elliptic Curve algorithms used for digital signatures, both fundamental components of Bitcoin, as well as many other blockchain protocols. Topics discussed in this episode: - What are quantum technologies and how they differ from the existing paradigm - The areas and industries which are to benefit most from quantum computing - A refresher on hashing algorithms as one-way functions - What a quantum attack on Bitcoin mining might look like - How Elliptic Curve digital signature algorithms work and how public and private keys are generated - The three types of attacks a quantum computer could perform digital signatures - The expected timelines for these attacks to be viable - The potential countermeasures which could circumvent quantum attacks on Bitcoin - The Qubit Protocol as a DAO to fund quantum technology startups and the challenges of investing in the quantum space - The project’s roadmap and upcoming ICO Sponsors: - Shapeshift: Buy and sell alt coins instantly and securely without a centralized exchange - http://epicenter.tv/shapeshift This episode is also available on : - Epicenter.tv: https://epicenter.tv/231 - YouTube: http://youtu.be/sqfiNy27Fz0 - Souncloud: http://soundcloud.com/epicenterbitcoin/eb-231 Watch or listen, Epicenter is available wherever you get your podcasts. Epicenter is hosted by Brian Fabian Crain, Sébastien Couture & Meher Roy.
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250 episodes

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Archived series ("HTTP Redirect" status)

Replaced by: anchor.fm

When? This feed was archived on July 01, 2018 01:57 (5+ y ago). Last successful fetch was on June 13, 2018 01:34 (6y ago)

Why? HTTP Redirect status. The feed permanently redirected to another series.

What now? If you were subscribed to this series when it was replaced, you will now be subscribed to the replacement series. This series will no longer be checked for updates. If you believe this to be in error, please check if the publisher's feed link below is valid and contact support to request the feed be restored or if you have any other concerns about this.

Manage episode 203538094 series 2058430
Content provided by Epicenter - Weekly Podcast on Blockchain, Ethereum, Bitcoin and Distributed Technologies. All podcast content including episodes, graphics, and podcast descriptions are uploaded and provided directly by Epicenter - Weekly Podcast on Blockchain, Ethereum, Bitcoin and Distributed Technologies or their podcast platform partner. If you believe someone is using your copyrighted work without your permission, you can follow the process outlined here https://player.fm/legal.
Support the show, consider donating: BTC: 1CD83r9EzFinDNWwmRW4ssgCbhsM5bxXwg (https://epicenter.tv/tipbtc) BCC: 1M4dvWxjL5N9WniNtatKtxW7RcGV73TQTd (http://epicenter.tv/tipbch) ETH: 0x8cdb49ca5103Ce06717C4daBBFD4857183f50935 (https://epicenter.tv/tipeth) With the advent of mature quantum technologies, many of the critical cryptographic protocols which secure the Internet, financial transactions and even military secrets may become susceptible to new attack vectors. For instance, while it may take a computer millions of years to decipher a public key’s corresponding private key, a sufficiently powerful quantum computer might achieve this in a reasonable amount of time. With this reality looming over us, many in the blockchain space worry that someone with access to a quantum computer might one day have the ability to steal their hard-earned crypto. We’re joined by Ajay Prakash and Gavin Brennen, founders of the Qubit Protocol, a decentralized blockchain-enabled governance protocol that is meant to select and fund the best startups in the quantum world. As a co-author of the recent paper “Quantum attacks on Bitcoin, and how to protect against them,” Gavin walks us through the primary threats that quantum computing poses on Bitcoin. Among the major vulnerabilities are hashing functions and Elliptic Curve algorithms used for digital signatures, both fundamental components of Bitcoin, as well as many other blockchain protocols. Topics discussed in this episode: - What are quantum technologies and how they differ from the existing paradigm - The areas and industries which are to benefit most from quantum computing - A refresher on hashing algorithms as one-way functions - What a quantum attack on Bitcoin mining might look like - How Elliptic Curve digital signature algorithms work and how public and private keys are generated - The three types of attacks a quantum computer could perform digital signatures - The expected timelines for these attacks to be viable - The potential countermeasures which could circumvent quantum attacks on Bitcoin - The Qubit Protocol as a DAO to fund quantum technology startups and the challenges of investing in the quantum space - The project’s roadmap and upcoming ICO Sponsors: - Shapeshift: Buy and sell alt coins instantly and securely without a centralized exchange - http://epicenter.tv/shapeshift This episode is also available on : - Epicenter.tv: https://epicenter.tv/231 - YouTube: http://youtu.be/sqfiNy27Fz0 - Souncloud: http://soundcloud.com/epicenterbitcoin/eb-231 Watch or listen, Epicenter is available wherever you get your podcasts. Epicenter is hosted by Brian Fabian Crain, Sébastien Couture & Meher Roy.
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