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International Workshop on Data Privacy Management

International Workshop on Cryptocurrencies and Blockchain Technology

DPM 2022, CBT 2022: Data Privacy Management, Cryptocurrencies and Blockchain Technology pp 308–316Cite as

Migrating Blockchains Away from ECDSA for Post-quantum Security: A Study of Impact on Users and Applications

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Part of the Lecture Notes in Computer Science book series (LNCS,volume 13619)

Abstract

Blockchains use Elliptic Curve Digital Signature Algorithm (ECDSA) to secure transactions between the wallets and blockchain nodes. Due to the potential threat from quantum computers, these blockchain implementations need to migrate away from ECDSA to a post-quantum algorithm before quantum computers become powerful enough. However, the migration process is long and challenging because replacing the underlying cryptographic implementation will significantly impact several existing use-cases, causing financial losses to users and making applications fail. We study the impact of such use-cases from a user and application perspective. To partly minimize the impact, we observe that use of BIP39 Seed is key to achieving backward compatibility and propose possible strategies in choosing and adapting a BIP39-compatible post-quantum algorithm.

Keywords

  • Post-quantum cryptography
  • Bitcoin
  • Blockchains
  • Elliptic curve digital signing algorithm

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Notes

  1. 1.

    A cursory search on Google.com yields estimates where more than 30% Bitcoin wallets are dormant.

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Author information

Authors and Affiliations

  1. pQCee Pte Ltd., Singapore, Singapore

    Teik Guan Tan

  2. Singapore University of Technology and Design, Singapore, Singapore

    Jianying Zhou

Authors
  1. Teik Guan Tan
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  2. Jianying Zhou
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Correspondence to Teik Guan Tan .

Editor information

Editors and Affiliations

  1. Samovar, Télécom SudParis, Institut Polytechnique de Paris, Palaiseau, France

    Joaquin Garcia-Alfaro

  2. Universitat Autonoma de Barcelona, Bellaterra, Spain

    Guillermo Navarro-Arribas

  3. Technical University of Denmark, Lyngby, Denmark

    Nicola Dragoni

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Tan, T.G., Zhou, J. (2023). Migrating Blockchains Away from ECDSA for Post-quantum Security: A Study of Impact on Users and Applications. In: Garcia-Alfaro, J., Navarro-Arribas, G., Dragoni, N. (eds) Data Privacy Management, Cryptocurrencies and Blockchain Technology. DPM CBT 2022 2022. Lecture Notes in Computer Science, vol 13619. Springer, Cham. https://doi.org/10.1007/978-3-031-25734-6_19

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  • DOI: https://doi.org/10.1007/978-3-031-25734-6_19

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