Salvador does something surprising: he moved his national reserve, which consists of about 6250 BTC, from one place in blockchain on 14 separate addresses. Why?
Salvador moves BTC
Everything has already explained the National Bitcoin Bureau (Onbtc), which described this step as a means of “quantum risk reduction”, aimed at securing the country’s resources against progress in the field of computer science. In other words, officials are afraid that the development of quantum computers will threaten the country’s BTC resources.
Is it unnecessary hysteria? A large proportion of industry experts believe that the threat of breaking Bitcoin encryption by quantum computers is largely only theoretical. Certainly, however, keeping a large amount of cryptocurrencies on various wallets is a very good idea.
Until now, the Salvador authorities kept all their bitcoins in one public address. Even apart from the development of the new generation of computers, it was hardly responsible, and even … Strange thanks to the separation of funds into many portfolios, the government effectively reduces the risk of losing a large amount as a result of a single attack.
Actually, such a Bitcoins strategy should be a standard for all investors. The more that setting up a new address on the web costs nothing.
Once again about cryptography
The security of the Bitcoin network is based on the cryptography of elliptical curves (ECC), which ensures the secrecy of private keys. Currently, this cryptography cannot be broken by any known computer in the world. Experts, however, made the theory that a sufficiently advanced quantum machine, using the SHORA algorithm, could one day calculate the private key based on a public key.
For now – I will emphasize this again – we are talking only about theory. However, it is worth looking at estimates: according to one study, over 4 million BTC are stored on addresses that would be susceptible to attacks if quantum computers have broken ECC keys. It is usually a long “dormant” BTC, whose public keys have been revealed in previous transactions.
However, a shield is created for every new weapon. The creators of Bitcoin are already preparing for the use of postkwant cryptography, which could improve network security in the future.
