Author: Patrick Shirkey 2021-03-06 12:58:25
Published on: 2021-03-06T12:58:25+00:00
The email suggests exploring possible options for hardening Bitcoin against potential attacks on RSA, ECDSA, and sha256. The ideas presented are not deeply thought out at the technical level but may inspire discussion for new BIPs. Some of the possible defense strategies include alternate hashing methods, per address seed phrases, removing private keys from a wallet for safe storage in a separate location, completely removing wallets from the blockchain for 'absolute' cold storage (if technically possible), and burning old coins and generating 'new' coins to 'reset' tx history through a "Burn and Reissue" FIFO queue with set miner fees. The goal is to defeat potential attacks and prevention is better than cure. The email acknowledges that these ideas are challenging and probably contentious.
Updated on: 2023-05-21T01:56:07.655754+00:00