Ethereum prepares for quantum era with new security team and funding

The Ethereum ecosystem is taking proactive steps to address the existential threat posed by future quantum computers, which possess the capability to break existing public-key cryptography (specifically the Elliptic Curve Digital Signature Algorithm, ECDSA) that secures the network. While a full-scale quantum computer capable of running Shor’s algorithm remains years away, the Foundation recognizes the necessity of immediate preparation to safeguard trillions of dollars in decentralized assets.

To spearhead this critical effort, the Ethereum Foundation (EF), along with core contributors, has formalized a new working group dedicated exclusively to Post-Quantum Cryptography (PQC) research and implementation. This specialized team is tasked with assessing candidate quantum-resistant algorithms, primarily focusing on lattice-based cryptography, which has shown significant promise in resisting quantum attacks. The complexity lies in integrating these new, computationally heavier cryptographic primitives without drastically increasing gas costs or reducing transaction throughput.

Crucially, the PQC initiative is being backed by significant dedicated funding and grant allocations. These funds are designated for several key areas: supporting academic research into the feasibility and efficiency of integrating PQC primitives into the Ethereum Virtual Machine (EVM); developing specialized smart contract standards that facilitate a smooth transition to new signature schemes; and auditing proposed quantum-resistant algorithms to ensure they do not introduce new, exploitable vulnerabilities. The long-term roadmap includes developing account abstraction standards and migration tools, aiming to solidify Ethereum’s position as a future-proof decentralized ledger.

Source: Ethereum prepares for quantum era with new security team and funding