Description

Macquarie University physicist A/Prof. Gavin Brennen, together with Australian entrepreneur Dorjee Sun and researchers in Singapore and Sydney, has announced a collaboration with blockchain company Hyperchain on providing quantum security to digital currency. The team named Quantum Resistant Coin (QRC), includes researchers A/Prof. Brennen at Macquarie U., Prof. Miklos Santha at CNRS Université Paris Diderot and Centre for Quantum Technologies (CQT), A/Prof. Troy Lee at Nanyang Technological University and CQT, and Senior Lecturer Dr. Marco Tomamichel at UTS. 

Subject

They have just released a whitepaper which finds that Bitcoin and other cryptocurrencies will be vulnerable to attacks by quantum computers in as little as ten years. Such attacks could have a disastrous effect on cryptocurrencies as thieves equipped with quantum computers could easily steal funds without detection, thus leading to a quick erosion of trust in the markets. They also assess the risk of quantum dominated mining in so called Proof of Work protocols which are the basis for verifying transactions in Bitcoin and many other cryptocurrencies.

Period1 Nov 2017 → 9 Nov 2017

Media coverage

9

Media coverage

  • TitleQuantum computers could crack Bitcoin, but fixes are available now
    Degree of recognitionInternational
    Media name/outletThe Register
    Media typeWeb
    CountryUnited Kingdom
    Date9/11/17
    DescriptionAn international group of quantum boffins reckons Bitcoin could be broken by the year 2027.

    The researchers from Singapore, Australia and France say that scenario represents the worst case, and would see a quantum computer able to run Shor's algorithm against the cryptocurrency's protective elliptic curve signature quicker than the 10 minutes Bitcoin needs to record a transaction in the blockchain.
    URLhttps://www.theregister.co.uk/2017/11/09/quantum_computers_could_crack_bitcoin/
    PersonsGavin Brennen
  • TitleWerden in zehn Jahren Quantencomputer Bitcoin das Genick brechen?
    Degree of recognitionInternational
    Media name/outletInstitutional Money
    Media typeWeb
    CountryGermany
    Date9/11/17
    DescriptionZu dieser Erkenntnis gelangt eine Gruppe von australischen Wissenschaftern in Zusammenarbeit mit einem Team in Singapur, schreibt "cryptovest.com". Autoren der Studie mit dem Titel "Quantum attacks on Bitcoin, and how to protect against them" sind Divesh Aggarwal, Professor an der National University of Singapore, Gavin K. Brennen, Dozent an der Macquarie University, Sydney, Troy Lee, Dozent an der Nanyang Technological University in Singapur; Miklos Santha, Professor am Centre for Quantum Technologies in Singapur sowie der Schweizer Marco Tomamichel vom Centre for Quantum Software and Information an der University of Technology in Sydney.
    URLwww.institutional-money.com/news/maerkte/headline/werden-in-zehn-jahren-quantencomputer-bitcoin-das-genick-brechen-138519/
    PersonsGavin Brennen
  • TitleQuantum Computers Pose Imminent Threat to Bitcoin Security
    Degree of recognitionInternational
    Media name/outletMIT Technology Review
    Media typeWeb
    Date8/11/17
    DescriptionThe massive calculating power of quantum computers will be able to break Bitcoin security within 10 years, say security experts.
    URLhttps://www.technologyreview.com/s/609408/quantum-computers-pose-imminent-threat-to-bitcoin-security/
    PersonsGavin Brennen
  • TitleThe real risks quantum attacks will pose for Bitcoin
    Degree of recognitionInternational
    Media name/outletHomeland Security News Wire
    Media typeWeb
    Date6/11/17
    DescriptionCombining expertise in quantum technologies and cryptography, researchers have been projecting future dates that quantum computers could jeopardize the security of current cryptocurrencies, a market now worth over $150 billion, and assessing countermeasures to such attacks.
    URLwww.homelandsecuritynewswire.com/dr20171105-the-real-risks-quantum-attacks-will-pose-for-bitcoin
    PersonsGavin Brennen
  • TitleWhite Paper Maps Risks That Quantum Attacks Will Pose For Bitcoin
    Degree of recognitionInternational
    Media name/outletPioneering Minds
    Media typeWeb
    Date5/11/17
    DescriptionMacquarie University physicist Associate Professor Gavin Brennen, together with Australian entrepreneur Dorjee Sun and researchers in Singapore and Sydney, has announced a collaboration with blockchain company Hyperchain on providing quantum security to digital currency. The team named Quantum Resistant Coin (QRC), includes researchers A/Prof. Brennen at Macquarie U., Prof. Miklos Santha at CNRS Université Paris Diderot and Centre for Quantum Technologies (CQT), A/Prof. Troy Lee at Nanyang Technological University and CQT, and Senior Lecturer Dr. Marco Tomamichel at UTS. They have just released a whitepaper which finds that Bitcoin and other cryptocurrencies will be vulnerable to attacks by quantum computers in as little as 10 years. Such attacks could have a disastrous effect on cryptocurrencies as thieves equipped with quantum computers could easily steal funds without detection, thus leading to a quick erosion of trust in the markets. They also assess the risk of quantum dominated mining in so called Proof of Work protocols which are the basis for verifying transactions in Bitcoin and many other cryptocurrencies.
    URLhttps://www.pioneeringminds.com/white-paper-maps-risks-quantum-attacks-will-pose-bitcoin/
    PersonsGavin Brennen
  • TitleA toss of the bitcoin
    Degree of recognitionInternational
    Media name/outletDaily Telegraph
    Media typeWeb
    CountryAustralia
    Date5/11/17
    DescriptionMacquarie University physicist Associate Professor Gavin Brennen, together with Australian entrepreneur Dorjee Sun and researchers in Singapore and Sydney, has announced a collaboration with blockchain company Hyperchain on providing quantum security to digital currency. The team named Quantum Resistant Coin (QRC), includes researchers A/Prof. Brennen at Macquarie U., Prof. Miklos Santha at CNRS Université Paris Diderot and Centre for Quantum Technologies (CQT), A/Prof. Troy Lee at Nanyang Technological University and CQT, and Senior Lecturer Dr. Marco Tomamichel at UTS.
    URLwww.dailytelegraph.com.au/business/a-toss-of-the-bitcoin/news-story/8d3826f5e5fbc17d3c88b5402669835f
    PersonsGavin Brennen
  • TitleNew white paper maps the very real risks that quantum attacks will pose for Bitcoin
    Degree of recognitionInternational
    Media name/outletPhys.org
    Media typeWeb
    Date2/11/17
    DescriptionMacquarie University physicist Associate Professor Gavin Brennen, together with Australian entrepreneur Dorjee Sun and researchers in Singapore and Sydney, has announced a collaboration with blockchain company Hyperchain on providing quantum security to digital currency. The team named Quantum Resistant Coin (QRC), includes researchers A/Prof. Brennen at Macquarie U., Prof. Miklos Santha at CNRS Université Paris Diderot and Centre for Quantum Technologies (CQT), A/Prof. Troy Lee at Nanyang Technological University and CQT, and Senior Lecturer Dr. Marco Tomamichel at UTS.
    URLhttps://phys.org/news/2017-11-white-paper-real-quantum-pose.html
    PersonsGavin Brennen
  • TitleQuantum Computers Are (Probably) Going To Steal Your Bitcoin
    Degree of recognitionInternational
    Media name/outletGizmodo
    Media typeWeb
    Date1/11/17
    DescriptionDr Tomamichel is part of the new Quantum Resistant Coin group of researchers working to use their expertise quantum technologies and cryptography in developing security measures for of digital currencies, in partnership with blockchain company Hyperchain.

    The group is also working with Associate Professor Gavin Brennen at Macquarie University, Professor Miklos Santha at the Centre for Quantum Technologies in Singapore, and Associate Professor Troy Lee from Nanyang Technological University, Singapore.
    URLhttps://www.gizmodo.com.au/2017/11/quantum-computers-are-probably-going-to-steal-your-bitcoin/
    PersonsGavin Brennen
  • TitleBitcoin will be crackable by quantum computers in a decade
    Degree of recognitionInternational
    Media name/outletiTNews
    Media typeWeb
    CountryAustralia
    Date1/11/17
    DescriptionIncreasingly powerful quantum computers could jeopardise cryptographic currencies in as little as ten years, researchers have warned.
    URLhttps://www.itnews.com.au/news/bitcoin-will-be-crackable-by-quantum-computers-in-a-decade-476561
    PersonsGavin Brennen