Will quantum computing destroy Bitcoin?

10 000 question challengeCategory: Core Blockchain DevelopmentWill quantum computing destroy Bitcoin?
HowToToken Team Staff asked 8 months ago
1 Answers
Stan David answered 8 months ago

As it currently stands, bitcoin does depend on the discrete log problem in an elliptic curve group. This is part of the ECDSA signature algorithm. If quantum computing comes to fruition, it would be unwise not to replace this module.

There are plans to change in the near future from ECDSA to a Schnorr signature – Wikipedia. However this scheme is also based on the discrete log problem — it just happens to use less space. As things stand, storing the signature data is the most expensive part of a transaction, and people are eager to reduce the storage cost.
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