Ethereum is preparing for a significant update that may strengthen its defences against possible risks brought on by quantum computing. Vitalik Buterin’s new proposal, EIP-7702, is the main topic of discussion in this update. This proposal addresses several particular technical difficulties relating to signing procedures that were previously considered restrictions, making it an upgrade over the previous one.
The real threat posed by quantum computing, however, is a hot issue of conversation in the community. Some contend that without any practical answers provided, quantum computing is frequently employed as a scare tactic. Developer James Prestwich, for instance, noted that more urgent action would be required immediately if quantum computing became a real threat. He says it is not very beneficial to discuss quantum computing without offering concrete solutions.
https://x.com/VitalikButerin/status/1787884546790220258
There is a serious risk that quantum computing will affect the encryption techniques that are in use today, such as Ethereum. Should quantum technology progress to the point where these techniques are rendered ineffective, the entire system may be at jeopardy. Because of this, there is a pressing need to begin the transition away from the encryption standard in use today, ECDSA, which serves as a vital security component for many of Ethereum’s activities.
In the past, Vitalik Buterin has taken the initiative to solve these issues. His published work on GitHub shows that he has been writing programmes for wallets that are resistant to quantum assaults since 2017. His strategy focuses on sophisticated cryptographic techniques called STARK protocols. They’re thought to be a good defence against quantum assaults. The best course of action, according to Buterin, is to continue improving these protocols and ensure that every major advancement made in Ethereum is compatible with a scenario in which quantum resistance is required.
EIP-7702 is more than merely a countermeasure to quantum computing. Additionally, it adds capabilities like signature aggregation, which may become increasingly crucial as technology advances to tackle new problems. This suggestion is a part of a larger plan to guarantee that Ethereum stays safe and operational in the face of upcoming technical developments, in addition to addressing current issues.
