The cybersecurity company Naoris, focused on protecting digital assets from quantum computing threats, is offering a bounty to anyone who can crack the encryption algorithms used by major blockchain networks.
In an announcement shared with Cointelegraph on Thursday, Naoris stated that a successful breach of key cryptographic algorithms used in the crypto industry will earn a bounty of $120,000—equivalent to about 1 Bitcoin (BTC).
The largest bounty is $50,000, awarded to those who can crack secp256k1, a cryptographic standard that underpins Bitcoin, Ethereum, and many other protocols. A reward of $30,000 is offered for cracking Ed25519, which is used by Solana and encrypted messaging services like Signal and WhatsApp.
Naoris is also offering a $20,000 reward for successfully attacking NIST P-256, an elliptic curve used in Transport Layer Security (TLS) protocols that protect internet traffic. An additional $10,000 is available for cracking other elliptic curves, including P-224, P-384, and P-521.
These bounties are aimed at breaking elliptic curve parameters, which are the specific values or sets of values that define the elliptic curves used in cryptography, thereby determining the security and functionality of cryptographic systems.
The modern world heavily relies on cryptographic technology, and the consequences of its breach would be severe and far-reaching.
If secp256k1 is cracked, Bitcoin and several other blockchains, the Lightning Network, and many Ethereum Layer 2 protocols would collapse. Current estimates suggest that using today's GPU technology to crack this algorithm would take about 10 billion trillion years.
Successfully attacking Ed25519 would compromise the OpenSSH protocol used for secure server access, disrupt the Git version control system, and threaten parts of the DNS security layer.
NIST P-224 is primarily used in older systems, such as legacy smart cards, and is set to be deprecated by the National Institute of Standards and Technology after 2030. It is approximately 30,000 times easier to crack than 256-bit curves like secp256k1.
While quantum computers are unlikely to crack modern cryptographic technology in the short term, many experts believe it is a question of "when" rather than "if." Therefore, even though estimates suggest that quantum computers would need tens of millions of qubits to crack these systems, the cryptographic community has already begun preparations.
Bitcoin, in particular, is taking preliminary measures. A new Bitcoin Improvement Proposal (BIP) launched this month aims to address the threats posed by quantum computers by gradually phasing out Bitcoin's traditional signature scheme.
"A successful quantum attack on Bitcoin would lead to significant economic damage and harm to the entire ecosystem," the proposal states. "In addition to the impact on prices, the ability of miners to provide network security could be significantly affected."
In an interview with Cointelegraph in mid-April, early cypherpunk Adam Back, who was referenced in the Bitcoin white paper by Satoshi Nakamoto, suggested that quantum computing pressure could reveal whether the anonymous creator of blockchain is still alive.
He explained that quantum computing could put the Bitcoin held by Satoshi at risk of theft, forcing him to move it to protect it.
Researchers are also looking for more blockchain-independent solutions. Earlier this week, Sui Research launched a cryptographic framework that provides protection against quantum computing threats across multiple blockchains without the need for hard forks, address changes, or key updates.
Nevertheless, while this specific solution claims compatibility with all EdDSA-based blockchains, this requirement excludes Bitcoin and Ethereum. Compatible blockchains include Sui, Solana, Near, and Cosmos.
Related: SEC's new regulations tacitly allow staking rewards, Bitcoin (BTC) ETF may trigger $710 billion supply crunch
Original article: “Bitcoin (BTC) Faces Quantum Computing Threat: Naoris Offers Bounty for Cracking Cryptographic Algorithms”
免责声明：本文章仅代表作者个人观点，不代表本平台的立场和观点。本文章仅供信息分享，不构成对任何人的任何投资建议。用户与作者之间的任何争议，与本平台无关。如网页中刊载的文章或图片涉及侵权，请提供相关的权利证明和身份证明发送邮件到support@aicoin.com，本平台相关工作人员将会进行核查。
