Ethereum Foundation Prioritizes Post-Quantum Security

The Ethereum Foundation has elevated post-quantum security to a top strategic priority, forming a dedicated Post Quantum team and calling the effort a top priority for the network.

TL;DR
• The Ethereum Foundation has formed a dedicated Post Quantum team to drive wallet safety upgrades and research prizes.
• The team will focus on biweekly developer sessions on post-quantum transactions and multi-client post-quantum consensus test networks.
• The foundation is backing new cryptography with funding and outreach, launching two $1 million prizes and planning post-quantum community events and education.

Summary
The Ethereum Foundation has made post-quantum security a top priority, forming a new Post Quantum team led by Thomas Coratger and supported by Emile, a cryptographer from leanVM. This move is driven by the accelerating timelines of quantum computing, which could potentially break today's encryption methods faster than normal computers. The team will focus on wallet safety upgrades, research prizes, and test networks to prepare for quantum threats.

Key actions include biweekly developer sessions on post-quantum transactions, multi-client post-quantum consensus test networks, and funding for cryptography research through prizes like the $1 million Poseidon Prize and the Proximity Prize. The foundation also plans community events, education efforts, and a video series to address post-quantum security.

The urgency is emphasized by the potential risks of quantum computing to blockchain security, particularly in exposing wallet keys and disrupting network operations. Industry participants stress the importance of early preparation for quantum threats, noting that blockchains may be able to coordinate a full-stack software transition faster than traditional finance.

Key takeaways:
• The Ethereum Foundation has formed a Post Quantum team to drive wallet safety upgrades and research.
• The team will lead biweekly developer sessions on post-quantum transactions and multi-client test networks.
• $1 million prizes are being offered to harden the Poseidon hash function and support post-quantum initiatives.
• Community events and education efforts are planned to address post-quantum security.

As the threat of quantum computing looms, it's essential for Ethereum to prioritize post-quantum security and prepare for a future where traditional cryptography may no longer be secure.