Odaily Planet Daily reports that researcher Avihu Levy has proposed a Quantum-Safe Bitcoin (QSB) scheme that grants quantum resistance to Bitcoin transactions using only existing traditional script constraints. Under this scheme, standard Bitcoin transactions rely on ECDSA (Elliptic Curve Digital Signature Algorithm) signatures, which could be broken by sufficiently powerful quantum computers running Shor’s algorithm. To address this, the researchers propose QSB, which replaces the reliance on elliptic curve cryptography in transaction security with a Binohash-based construction employing a one-time signature scheme embedded within Bitcoin scripts.
Binohash achieves transaction integrity through a proof-of-work puzzle based on signature length. However, the paper notes that quantum computing can also break this puzzle.
QSB eliminates this vulnerability by creating a "hash-to-signature" puzzle that requires the payer to solve a puzzle based solely on hashing rather than elliptic curve mathematics, making it resistant to quantum attacks that compromise elliptic curve cryptography.
"Because this puzzle depends solely on the preimage resistance of RIPEMD-160 (and not on any elliptic curve assumptions), it is completely unaffected by Shor's algorithm," the researchers explained. (The Block)