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If quantum computers are developed that can break blockchain wallet encryption in a short time can wallets be upgraded without user intervention?

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by COINS NEWS 142 Views

Say in the future a quantum computer is available that can break the encryption of Bitcoin enabling anyone with access to such a computer to gain access to any wallets they want.

The Bitcoin core development team have anticipated this and upgraded the network to a quantum resistant encryption protocol.

Is there any way that you can make Satoshi’s 1 million+ Bitcoin wallet quantum resistant without Satoshi having to interact with his wallet with the original keys?

This could pose a significant problem for blockchains such as Bitcoin with a significant percentage of “lost” coins when hackers will be able to get their hands on said coins.

Edit: Quantum resistant encryption is already here

https://en.m.wikipedia.org/wiki/Post-quantum_cryptography

“In contrast to the threat quantum computing poses to current public-key algorithms, most current symmetric cryptographic algorithms and hash functions are considered to be relatively secure against attacks by quantum computers.”

submitted by /u/OurNumber4
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