Countdown to Q-Day with Project 11

Anna Rose hosts the "Zero Knowledge" podcast with guests Alex Pruden and Connor Deegan from Project 11, discussing the implications of quantum computing for cryptographic systems and blockchains. They highlight the quantum threat to cryptographic systems, identifying vulnerable algorithms and emphasizing that upgrading networks alone is insufficient. Project 11 proposes strategies to protect digital assets and secure blockchain networks against these emerging threats.

Alex Pruden, a former US Army officer, focuses on zero knowledge cryptography and aims to develop post-quantum financial infrastructure. Connor Deegan, a cryptographer, discusses his experience with decentralized identity and the challenges within the Ethereum ecosystem. He notes that Project 11 initially focused on blockchain but later expanded to broader encryption systems, returning to blockchain due to its unique vulnerabilities.

The conversation touches on the evolution of quantum computing, which poses a substantial threat to blockchain security. While blockchain adoption has grown, skepticism remains about the immediacy of the quantum threat. The quantum computing community acknowledges the imminent arrival of quantum technology, highlighting differing perspectives between the two fields.

Large institutions express anxiety over quantum computing developments, particularly regarding the feasibility of upgrading blockchain protocols. Project 11 emphasizes the need for effective upgrades to prevent system collapse, considering trade-offs such as larger signatures and longer signing times. The migration of user key material to post-quantum cryptography is critical, requiring informed user action to avoid vulnerabilities.

The urgency of user migration before the arrival of quantum computers is stressed, with Project 11 facilitating this process. The complexity of migrating assets is acknowledged, with potential risks during the transfer process. The conversation also covers cross-signing to confirm ownership of Bitcoin addresses using post-quantum keys, providing a preliminary measure for user migration.

The discussion highlights the quantum threat, particularly Shor's Algorithm, which poses a significant risk to public key cryptography. The importance of proactively addressing these vulnerabilities is emphasized to avoid frequent protocol migrations. The potential of zero-knowledge proofs as a solution for post-quantum security is introduced, with Starks identified as a promising approach.

Leslie Kendrick raises questions about the applicability of Project 11's solutions across different blockchains. Mark Blyth explains that newer blockchain generations utilize EDDSA signatures, which differ from the ECDSA signatures used by Bitcoin and Ethereum. The conversation also addresses the significant progress in quantum computing, with the largest quantum computer currently having 6,000 qubits, illustrating the gap between current capabilities and what is necessary to break cryptographic systems.

Project 11 is focused on establishing new foundations for blockchains by implementing post-quantum algorithms, customizing NIST standardized algorithms for blockchain applications. The migration of user assets is emphasized, proposing a secure method involving a vault wallet on Ethereum that utilizes account abstraction and post-quantum cryptography.

A mapping system is essential for connecting old and new addresses across platforms, enhancing user experience. The discussion includes building new protocols to address quantum vulnerabilities in blockchain and financial systems, focusing on a custody solution to enhance security during migration. The ongoing threat of quantum computing is acknowledged, highlighting the importance of addressing it as adoption accelerates.