Related papers: Downtime Required for Bitcoin Quantum-Safety
This whitepaper seeks to elucidate implications that the capabilities of developing quantum architectures have on blockchain vulnerabilities and mitigation strategies. First, we provide new resource estimates for breaking the 256-bit…
In the medium term, quantum computing must tackle two key challenges: fault tolerance and security. Fault tolerance will be solved with sufficiently high quality experiments on large numbers of qubits, but the scale and complexity of these…
It has been established that quantum algorithms can solve several key cryptographic problems more efficiently than classical computers. As progress continues in the field of quantum computing it is important to understand the risks they…
We prove Bitcoin is secure under temporary dishonest majority. We assume the adversary can corrupt a specific fraction of parties and also introduce crash failures, i.e., some honest participants are offline during the execution of the…
The rapid advancement of quantum computing poses a critical threat to classical cryptographic algorithms such as RSA and ECC, particularly in Internet of Things (IoT) devices, where secure communication is essential but often constrained by…
Bitcoin is a decentralised digital currency that relies on cryptography rather than trusted third parties such as central banks for its security. Underpinning the operation of the currency is a peer-to-peer (P2P) network that facilitates…
While cryptocurrencies have been rapidly gaining adoption, secure wallet interactions are still elusive for many users, which frequently leads to loss of funds. Here we propose an approach to securing interactions with cryptocurrency…
Bitcoin uses blockchain technology to maintain transactions order and provides probabilistic guarantee to prevent double-spending, assuming that an attacker's computational power does not exceed %50 of the network power. In this paper, we…
Over the past three years, especially following WannaCry malware, ransomware has become one of the biggest concerns for private businesses, state, and local government agencies. According to Homeland Security statistics, 1.5 million…
The Bitcoin network is burning a large amount of energy for mining. In this paper we estimate the lower bound for the global energy cost for a period of ten years from 2010, taking into account changing oil costs, improvements in hashing…
ECDSA has become a popular choice as lightweight alternative to RSA and classic DL based signature algorithms in recent years. As standardized, the signature produced by ECDSA for a pair of a message and a key is not deterministic. This…
Bitcoin is the world's first decentralized digital currency. The rate at which bitcoins enter circulation is cut in half every 4 years, approximately. These events are considered landmarks in Bitcoin's history, and as such are widely…
Off-Chain transactions allow for the immediate transfer of Cryptocurrency between two parties, without delays or unavoidable transaction fees. Such capabilities are critical for mainstream Cryptocurrency adaption. They allow for the…
Traditional and lightweight cryptography primitives and protocols are insecure against quantum attacks. Thus, a real-time application using traditional or lightweight cryptography primitives and protocols does not ensure full-proof…
Blockchain is a distributed database which is cryptographically protected against malicious modifications. While promising for a wide range of applications, current blockchain platforms rely on digital signatures, which are vulnerable to…
Lightning Network (LN) is a widely-used network of payment channels enabling faster and cheaper Bitcoin transactions. In this paper, we outline three ways an attacker can steal funds from honest LN users. The attacks require dilating the…
Bitcoin is a "crypto currency", a decentralized electronic payment scheme based on cryptography. Bitcoin economy grows at an incredibly fast rate and is now worth some 10 billions of dollars. Bitcoin mining is an activity which consists of…
Blockchains have a storage scalability issue. Their size is not bounded and they grow indefinitely as time passes. As of August 2017, the Bitcoin blockchain is about 120 GiB big while it was only 75 GiB in August 2016. To benefit from…
While advances in quantum computing promise new opportunities for scientific advancement (e.g., material science and machine learning), many people are not aware that they also threaten the widely deployed cryptographic algorithms that are…
NIST is conducting a process for the standardization of post-quantum cryptosystems, i.e., cryptosystems that are resistant to attacks by both traditional and quantum computers and that can thus substitute the traditional public-key…