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Ryan Sean Adams

👤 Speaker
3383 total appearances

Appearances Over Time

Podcast Appearances

Bankless
Ethereum’s Quantum Strategy with Justin Drake

Let me ask you the same question though.

Bankless
Ethereum’s Quantum Strategy with Justin Drake

So it's not just some portion of Bitcoin supply that is...

Bankless
Ethereum’s Quantum Strategy with Justin Drake

post-quantum insecure.

Bankless
Ethereum’s Quantum Strategy with Justin Drake

Also, Ethereum has this problem too, but with a different percent of supply.

Bankless
Ethereum’s Quantum Strategy with Justin Drake

Can you map that same problem?

Bankless
Ethereum’s Quantum Strategy with Justin Drake

So we get to a post-QDA scenario.

Bankless
Ethereum’s Quantum Strategy with Justin Drake

Oh my God, somebody, let's say they didn't freeze and burn.

Bankless
Ethereum’s Quantum Strategy with Justin Drake

Somebody is grabbing, scooping up the Satoshi Bitcoin.

Bankless
Ethereum’s Quantum Strategy with Justin Drake

What is happening on Ethereum at this point in time?

Bankless
Ethereum’s Quantum Strategy with Justin Drake

What percent of supply would be susceptible?

Bankless
Ethereum’s Quantum Strategy with Justin Drake

Let's just say Ethereum didn't solve quantum yet.

Bankless
Ethereum’s Quantum Strategy with Justin Drake

So let's just say it's in its current place.

Bankless
Ethereum’s Quantum Strategy with Justin Drake

What percent of supply would be vulnerable to this type of an attack?

Bankless
Ethereum’s Quantum Strategy with Justin Drake

But you have like the parity hack, isn't that a large portion?

Bankless
Ethereum’s Quantum Strategy with Justin Drake

So you think maybe at max 2%, 3%, 4%, 5% of Ethereum supply is kind of both lost and in quantum crackable addresses.

Bankless
Ethereum’s Quantum Strategy with Justin Drake

So Ethereum will have to make this same choice, right?

Bankless
Ethereum’s Quantum Strategy with Justin Drake

Yes.

Bankless
Ethereum’s Quantum Strategy with Justin Drake

Rather to, you know, so let's say it's something like 3%, whether to do the freeze and burn or just let that be a treasure hunt.

Bankless
Ethereum’s Quantum Strategy with Justin Drake

And your hope is that we just go with the treasure hunt option, which means some sort of quantum attacker will be able to scoop up that 1, 2, 3% of Ether.

Bankless
Ethereum’s Quantum Strategy with Justin Drake

Okay, so we have just talked about the soft social issue that quantum computing brings up.