Vitalik Buterin, co-founder of Ethereum, has reassured the cryptocurrency community regarding the readiness of the ETH blockchain to withstand potential threats from quantum computers.
He emphasised that if quantum computing technology becomes available and is exploited by malicious entities to pilfer users’ funds, Ethereum could undergo a hard fork as a countermeasure.
Buterin elucidated that the groundwork for such a hard fork could theoretically start as soon as tomorrow. According to him, this proactive approach would ensure the maximal preparedness of the Ethereum ecosystem in the face of a quantum-related emergency.
The objective of quantum-resistant cryptography, exemplified by Winternitz signatures and STARKs, is to mitigate the risk of malevolent actors leveraging quantum computers to access and misuse users’ funds, Buterin clarified. Once account abstraction is implemented, users will have the option to adopt a quantum-resistant signature scheme voluntarily.
Nonetheless, Buterin also acknowledged the possibility of a sudden quantum breakthrough before these protective measures are fully deployed. He proposed that Ethereum is well-positioned to execute a straightforward recovery hard fork to address such a scenario. In this situation, the blockchain would necessitate a hard fork, and users would need to download updated wallet software. Despite this, Buterin expressed confidence that only a minimal number of users would incur fund losses.