Ethereum Foundation Unveils Crucial Post-Quantum Strategy - U.Today

The Ethereum Foundation has announced a dedicated post-quantum (PQ) team to prepare for a future where quantum computers could pose a threat to cryptography. In an update shared by renowned analyst Justin Drake, the team is led by researcher Thomas Coratger.

Ethereum prepares for quantum computing threats

As per the announcement, the Ethereum Foundation is no longer treating threats from quantum computers as theoretical. Hence, it has officially shifted into a “post-quantum mode” as part of its long-term security strategy. The foundation wants to urgently ensure that the Ethereum (ETH) blockchain is safe from future threats.

For perspective, Ethereum, just like other blockchains, relies on cryptography to secure the network. This cryptography guarantees security from classical computers. However, they could be vulnerable to large-scale quantum computers capable of cracking complex codes in minutes or days.

The Ethereum Foundation believes that it would be unwise to wait for quantum computers to start cracking cryptography before acting. The foundation believes that quantum timelines are accelerating and Ethereum must transition safely and gradually ahead of the threat.

In essence, the post-quantum security led by Coratger has the mandate to ensure that cryptography remains secure even if powerful quantum computers become commonplace tomorrow.

It is worth noting that the Ethereum Foundation has made this a top priority since 2019, when it made a presentation on Eth3.0 Quantum Security at StarkWare. The move now is to accelerate development so that the ecosystem stays ahead of the threat curve.

According to Justin Drake, several modifications will be effected, and these include protocol-level changes. Post-Quantum security is being designed directly into Ethereum’s core protocol, not just as an optional add-on. This means it will affect wallets, user accounts, validators and smart contract interactions.

Ethereum Foundation funding PQ security

To ensure optimum delivery, the Ethereum Foundation is supporting the project with $2 million. One million dollars has been set aside as the Poseidon prize to harden a critical hash function. The other $1 million prize is for the PQ cryptography initiative.

This indicates that the Ethereum Foundation believes that hash-based cryptography is a safe long-term bet against quantum threats.

The team’s timelines include conducting bi-weekly All Core Devs PQ transactions, PQ workshops and education. Part of the materials expected to be made available to sensitize users is a six-part video series on Ethereum’s PQ strategy.

The educational material will help users and enterprises to fully adopt post-quantum strategies that will keep Ethereum safe from threats.