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Ethereum Foundation Charts Post-Quantum Future, Announces $1M Prize

The EF wants a post-quantum transition with zero downtime and zero loss of funds.
Ethereum Foundation Charts Post-Quantum Future, Announces $1M Prize
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The Ethereum Ethereum Foundation is preparing for its post-quantum future, announcing the formation of a dedicated post-quantum team and $1M bounty to harden Ethereum against the threat posed by quantum computing.

What's the Scoop?

  • New Team: The Post Quantum (PQ) team will be led by Thomas Coratger, a cryptographic engineer at the Ethereum Foundation, who will be supported by Emile, a leading specialist in leanVM (the cryptographic cornerstone of EF's post-quantum strategy). The EF has also announced a $1M Poseidon Prize, which will reward cryptographers for ensuring the security of an encryption algorithm that will power leanVM.
  • PQ Progress: Multi-client post-quantum consensus devnets are already active, coordinated across both new and established Ethereum client teams. To ensure continued progress, a new bi-weekly PQ team call will focus on user-facing PQ transitions, including precompiles, account abstraction, and future transaction aggregation.
  • Growing Concern: Quantum is the latest trend gripping the crypto industry's attention. Earlier this month, Vitalik Buterin Vitalik Buterin posted that Ethereum must achieve full quantum-resistance “as soon as possible,” so that the protocol’s cryptography can be trusted for a hundred years. Coinbase Coinbase formed its own quantum advisory board last week, and post-quantum crypto startup Project Eleven was just valued at $120M.
  • Impending Updates: The EF plans to publish a comprehensive roadmap targeting a zero-downtime, zero-loss transition to post-quantum security in the coming years.

Jack Inabinet

Written by Jack Inabinet

883 Articles View all      

Jack Inabinet is a Senior Analyst with a passion for exploring the bleeding edge of crypto and finance. Prior to joining Bankless, Jack worked as an analyst at HAL Real Estate where he conducted market research and financial analysis for commercial real estate development and acquisition activities in the Seattle region. He graduated from the University of Washington’s Michael G. Foster School of Business.

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