Ethereum's Post-Quantum Account Protection Could Cost Just 7 Cents
A new proposal called SPHINCS- aims to lower the cost of quantum-resistant signature verification on Ethereum.
Ethereum developers have proposed a method to quantum-proof user accounts at a cost of approximately $0.07 per transaction, according to the lead of Ethereum’s Kohaku team. The proposal, known as SPHINCS-, focuses on reducing the verification expense of post-quantum signatures while a long-term solution is developed.
The SPHINCS- approach builds on existing stateless hash-based signature schemes, aiming to make them practical for Ethereum’s current architecture. The team estimates that the cost savings could be significant, enabling users to protect their accounts against future quantum threats without prohibitive fees.
While Ethereum is actively working on more permanent quantum-resistant measures, the SPHINCS- proposal offers an interim solution. The development underscores the network's proactive stance in addressing the potential risks posed by quantum computing.