By cryptoadmin Zcash developers aim to complete software instructions to support quantum-computer-resistant signatures in January; the first phase will cover approximately 70 percent of the $ZEC supply.
Privacy-focused cryptocurrency project Zcash is accelerating its technical preparations against potential security risks arising from quantum computers in the future. The developers of Zakura, the software used to run the Zcash network, plan to add new instructions to verify quantum-resistant signatures to the system in January.
These instructions will allow users to prove payment authorization with hash-based signatures. Current cryptographic systems assume that it is practically impossible to derive a wallet’s private key from its public key. There are concerns that if quantum computers or new mathematical methods weaken this assumption, attackers could create forged transaction signatures from the public keys.
Because hash-based signatures use a different verification method, a potential development that could affect the existing public key system is not expected to automatically break the new structure. However, the developers’ January target does not necessarily mean the update will be definitively enabled on the mainnet that same month. A confirmed network activation date has not yet been announced.
Zcash offers two main payment types: transparent and secure. In transparent transactions, addresses and amounts are visible on the blockchain, similar to Bitcoin. Secure transactions, on the other hand, conceal the sender, recipient, and amount information.
It is estimated that out of approximately 16.98 million $ZEC, 11.96 million are in the transparent pool. Therefore, the initial plan covers approximately 70 percent of the circulating $ZEC. Separate solutions will need to be developed to secure protected transactions against quantum threats.
Zakura also developed a special information access tool that allows wallets to check balances without revealing to a server which addresses they control. The experimental feature is available in the Vizor wallet.
To date, no practical quantum attack capable of cracking the keys of crypto wallets has been demonstrated. Therefore, the study does not indicate the start of a current attack, but rather preparation for a potential future risk.
*This is not investment advice.