A ‘simple’ hard fork could subvert a quantum attack on Ethereum: Vitalik Buterin

Founder of Ethereum, Vitalik Buterin mentioned that Ethereum chain will become immune to a quantum attack.The maestro of blockchain said that the chain can witness a quantum emergency and Ethereum is getting equipped.

Ethereum Blockchain Hard Fork On the Anvil?

 

“The blockchain would have to hard fork and users would have to download new wallet software, but few users would lose their funds,” he added. Buterin exclaimed that this new and important upgrade will draw the network to roll backward and flag a “large-scale theft”. This will force quit traditional transactions as the flow will not be compatible. 

 

Buterin explained that the process of such a hard fork would involve rolling back the Ethereum network to the point where it is clear that “large-scale theft” was occurring and disabling all traditional transactions from that point.In this quantum safe upgrade the developers of Ethereum will add a new transaction type — Ethereum Improvement Proposal (EIP) 7560 — to allow transactions from smart contract wallets.

Once Ethereum enters into the Quantum resist phase, the new EIP will use Winternitz signatures and zero-knowledge proof technologies known as “STARKs” to ensure that existing wallets are switched to new validation code, he added.

In this new upgrade, the code of Ethereum will implement  ERC-4337 account abstraction — the underlying technology of smart contract wallets that will prevent private keys from being displayed while signing transactions. 

 

What can Ethereum Users expect? 

 

Vitalik also added that any user who has never approved any transaction on Ethereum are already safe. With the quantum resist upgrade the star chain of crypto ‘Ethereum’ will further become even more popular. Innovators and security evangelists have been warning and learning about quantum computing. The new upgrade of Ethereum will be a huge test for Ethereum and its developers. 

 

All said and done, engineers at IBM and Google have said that quantum computing won’t be as developed as we may think. The most developed quantum computers won’t hit the tech stage until 2029.  

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