Efforts to fortify Bitcoin against future exploits are beginning to show results. StarkWare researcher Avihu Levy has just completed a test of an experimental quantum-resistant transaction directly on the Bitcoin mainnet. Dubbed the Quantum Safe Bitcoin (QSB) scheme, the experiment proves that advanced protection can already function on the main network.
The QSB scheme works by combining hash-based one-time signatures with computational search methods that bind authorization to a specific transaction. However, this second-layer security mechanism comes with significant trade-offs in efficiency.
Each QSB transaction takes hours to confirm and costs between $150 and $200. Due to its slow speed and high cost, Levy’s breakthrough is currently intended as an emergency measure rather than a practical day-to-day solution.
SHRINCS Proposal Cuts Size by 13 Times
On August 27, Blockstream submitted a Bitcoin Improvement Proposal (BIP) to upgrade the network via the SHRINCS signature scheme. The new proposal targets the primary issue with next-generation cryptographic systems: heavy data size overhead.
SHRINCS cuts the size of hash-based post-quantum signatures by up to 13.23 times. However, its final efficiency still lags significantly behind today’s network standards, as its resulting signatures remain nine times larger than a typical Bitcoin transaction.
Jonas Nick of Blockstream Research views his team’s work as the first concrete proposal for a post-quantum signature scheme designed specifically for Bitcoin. Nick acknowledged that the system is not optimal across the board, but claimed SHRINCS offers the best trade-off among the options available today.
Skepticism Amid Acceleration
The emergence of the QSB test and the SHRINCS proposal reflects a clear acceleration within the Bitcoin developer community to address future quantum computing threats.
Yet, a sense of urgency has not caught on with everyone. Skepticism continues to dominate among Bitcoiners regarding how close quantum threats actually are to breaking the network. While the timeline of the threat remains heavily debated, emergency safeguard measures are already underway today.
Reported by Cointelegraph.
Read also: What Is Bitcoin Halving?
Read also: Bitcoin ETFs Lose $201.8M and Erase 9-Day Streak - Jackson Hole Podium as Main Trigger
Disclaimer: This article is for informational and educational purposes only, not financial advice. Cryptocurrency assets are highly volatile and carry significant risk. Always do your own research (DYOR) and never invest more than you can afford to lose.
