Insider’s memory
- SEALSQ Corp, through its QUASARS project, is advancing post-quantum cryptography (PQC) with hybrid solutions and quantum-resistant hardware to secure critical systems such as IoT and blockchain networks against quantum threats.
- As quantum computing evolves, SEALSQ addresses vulnerabilities in Bitcoin’s cryptographic framework by developing solutions to mitigate risks such as compromised public keys and ensuring the long-term resilience of the blockchain.
- SEALSQ is committed to a quantum-secure future, providing innovative cryptographic hardware and software to protect critical infrastructure and enable a seamless transition to the quantum era.
PRESS RELEASE — SEALSQ Corp (NASDAQ: LAES) (“SEALSQ” or “Company”), a company focused on the development and sale of semiconductor hardware and software products, PKI and post-quantum technology , announced today that it is at the forefront of developing innovative solutions to address the challenges posed by quantum computing. Through its QUASARS project, SEALSQ is advancing the field of post-quantum cryptography (PQC) by creating hybrid solutions and quantum-resistant hardware designed to secure critical systems such as the Internet of Things (IoT) and networks blockchain.
Quantum computing risks for Bitcoin
As quantum computing evolves, its potential to disrupt blockchain-based systems like Bitcoin is becoming increasingly evident. Bitcoin’s security relies on cryptographic principles that could be compromised by sufficiently powerful quantum computers.
The main vulnerabilities include:
- Reused p2pk and p2pkh addresses: These expose public keys, allowing quantum computers to derive private keys and steal funds.
- Unspent Bitcoins: Many Bitcoins located in vulnerable addresses are inaccessible because their private keys have been lost. Without action, these coins will remain at risk once quantum computers achieve sufficient computing power.
Mitigating Bitcoin’s Quantum Vulnerabilities
To protect Bitcoin against quantum threats, the community can take several steps:
- Transfer funds to new p2pkh addresses: Bitcoins in unused p2pkh addresses remain quantum-secure because their public keys are not exposed. Transferring funds to such addresses can prevent immediate risks.
- Consensus-based ultimatums: One potential solution is for the Bitcoin community to establish an ultimatum requiring funds to be transferred to safe addresses. After a specified period of time, coins placed in unsecured addresses may become unusable. This measure, while effective, requires broad consensus and careful implementation to avoid unintended consequences.
Long-term resilience of Bitcoin
Even if all vulnerable Bitcoins are secure, blockchain systems remain at risk during transactions:
- Public keys are revealed when funds are transferred, creating a window for attackers equipped with quantum computers to obtain private keys and initiate competing transactions.
- Currently, the Bitcoin network requires approximately 10 minutes to mine a block. Quantum computers would need to derive private keys faster than that to exploit the system. Scientific estimates suggest that it currently takes around 30 minutes for a quantum computer to hack a Bitcoin signature, making Bitcoin resilient at the moment. However, rapid advances in quantum technology could shorten this time frame, putting blockchain’s inherent security at risk.
SEALSQ’s commitment to a quantum-secure future
SEALSQ proactively addresses these challenges by developing quantum-resistant cryptographic solutions. Its innovations in post-quantum hybrid hardware and software ensure that critical systems, including Bitcoin and IoT networks, remain resilient in the quantum era. SEALSQ’s efforts enable organizations to safely transition to a future where quantum computing is a reality.
With its cutting-edge technology and commitment to cybersecurity, SEALSQ continues to lead the way in building a digital future that is secure and resilient to the most advanced threats.