Importance of Hashing Algorithms and Why should we Ask Ourselves if Cryptography and Encryption are Safe from the latest development of Quantum Computers
The value of cryptography can depend on how long you need to keep a secret. It may be possible to crack in 25 years as computers become more powerful, but will it matter then? I need to read up on what difference quantum computers make, but they are at a very early stage for now. Could Bitcoin migrate to new algorithms that are less vulnerable?
Personally, i think that Bitcoin would have to go through many hard-forks and changes to be Quantum Proof! But it paves way for newer improved Cryptocurrencies. Time has yet to tell if there is need for a change as for now we may keep the threat of Quantum Computing Aside while also working on ways we can minize security risks for Cryptology and Encryption
My 2-cents. I think no crypts are not unbreakable. Yes, I agree with @steevc that it's about how long you need it for. Was NSA the one who invented SHA256? And I read that btc = SHA256^2 Is it something to lessen worries on encryption safety due to ^2... or is it stressful since it's by NSA? I don't know which or how to decide.
China claims:
...an uncrackable communications system, by turning messages quantum and taking them into space... Additionally, the complexity of quantum mechanics makes it virtually impossible to reverse engineer the quantum key generated through quantum entanglement.
Hashing is not the answer to all the problem. I mean we can't prove they are good, we can only try. And by definition they cannot be perfect since the set of possible inputs is way bigger than the output. You didn't mention security levels in your article. To have the security level we have today (2^80) we need hash functions of size at least 240 bits so 256 is good. But since no one can accurately guess the speed up we will get with quantum computers in classical computing settings, this margin is thin. It is safe to assume that we would need SHA3-384. source: GroverBHThash function
The value of cryptography can depend on how long you need to keep a secret. It may be possible to crack in 25 years as computers become more powerful, but will it matter then? I need to read up on what difference quantum computers make, but they are at a very early stage for now. Could Bitcoin migrate to new algorithms that are less vulnerable?
Personally, i think that Bitcoin would have to go through many hard-forks and changes to be Quantum Proof! But it paves way for newer improved Cryptocurrencies. Time has yet to tell if there is need for a change as for now we may keep the threat of Quantum Computing Aside while also working on ways we can minize security risks for Cryptology and Encryption
Any citations for your images? Thanks!!
My 2-cents. I think no crypts are not unbreakable. Yes, I agree with @steevc that it's about how long you need it for. Was NSA the one who invented SHA256? And I read that btc = SHA256^2 Is it something to lessen worries on encryption safety due to ^2... or is it stressful since it's by NSA? I don't know which or how to decide.
China claims:
source
They are referring to their communication systems being "spy-proof". Any thoughts on this?
Hashing is not the answer to all the problem. I mean we can't prove they are good, we can only try. And by definition they cannot be perfect since the set of possible inputs is way bigger than the output. You didn't mention security levels in your article. To have the security level we have today (2^80) we need hash functions of size at least 240 bits so 256 is good. But since no one can accurately guess the speed up we will get with quantum computers in classical computing settings, this margin is thin. It is safe to assume that we would need SHA3-384. source: Grover BHT hash function