David on why quantum computers are a bigger threat to onchain privacy than onchain security:
"Our world runs on encryption. There's obviously always risk the moment that there's data, but this is not something that I would consider a high risk."
"Right now we have demos built to show how you do that. You use an ephemeral key. So you generate some sort of signature with your local key, like your passkey or your YubiKey, and then you use that in order to create an ephemeral key that is the encryption or decryption key for storing the user share."
"So unless someone has access to the passkey or the YubiKey, they won't be able to decrypt it, just like you're not able to decrypt anything today in the world."
"Then we can talk about quantum computing and what risk that poses for things that are encrypted onchain, but that's a whole other conversation. This is a security encryption, it's not a privacy encryption. With privacy, what you do is you harvest now and you decrypt later."
"But with security, the moment that there's an actual quantum risk, then it doesn't matter that you have the old key, because it doesn't mean anything."
FT
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