Sealsq ‘advancing’ field of Post-Quantum Cryptography

SEALSQ (LAES) Corp announced that it is “at the forefront of developing innovative solutions to address the challenges posed by quantum computing.” Through its QUASARS project, SEALSQ is advancing the field of Post-Quantum Cryptography by creating hybrid solutions and quantum-resistant hardware designed to secure critical systems such as the Internet of Things and blockchain networks.The company said, “As quantum computing evolves, its potential to disrupt blockchain-based systems like Bitcoin is becoming more evident. Bitcoin’s security relies on cryptographic principles that could be compromised by sufficiently powerful quantum computers. Key vulnerabilities include: p2pk and Reused p2pkh Addresses: These expose public keys, allowing quantum computers to derive private keys and steal funds. Unspendable Bitcoins: Many Bitcoins in vulnerable addresses are inaccessible because their private keys have been lost. Without action, these coins remain at risk once quantum computers achieve sufficient computational power. Mitigating Bitcoin’s Quantum Vulnerabilities To safeguard Bitcoin against quantum threats, the community can take several actions: Transfer Funds to New p2pkh Addresses: Bitcoins in unused p2pkh addresses remain quantum-safe because their public keys are not exposed. Transferring funds to such addresses can prevent immediate risks. Consensus-Driven Ultimatums: A potential solution is for the Bitcoin community to establish an ultimatum requiring funds to be moved to safe addresses. After a set period, coins in unsafe addresses could become unusable. This measure, while effective, requires broad consensus and careful implementation to avoid unintended consequences.”