Quantum Computing Can Break Zcash and Monero Privacy, Researcher Says

Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available. The concerns about quantum computers have emerged again, with veteran crypto researcher Justin Bons warning that they could crack Zcash (ZEC) and Monero (XMR). In an update shared by Bons on X, the crypto researcher claims that these privacy-focused coins are at risk. Notably, Bons explained that quantum computers can "deanonymize" and crack the elliptic curve cryptography from exposed public keys. Generally, a public key becomes visible when a user spends funds from their wallet. A quantum computer could solve the complex math behind that key and derive the private key. With this, a malicious actor or unauthorized individual might link the transaction to a real user and compromise the privacy of the transaction. ZEC & XMR privacy is guaranteed to be cracked within the next few years! ⚠️Quantum computing can de-anonymize it all if the public key is exposedWhen lives depend on long-term privacy, use a non-ZK-based mixer insteadPrivacy is a human right; we must acknowledge the risks! The threat from quantum computers remains of great concern across many blockchains, and Bons suggests using mixing services that do not rely on zero-knowledge proofs. He argues that this is a sure way to protect long-term privacy when "lives depend on it." For clarity, a mixer is designed to pool many users’ coins, redistribute them and make it more difficult to track the ownership of the asset. This helps to protect the identity of the owner. Bons is suggesting that some...