Quote from: Kogs on March 28, 2018, 04:50:44 AM

Quote from: ir.hn on December 12, 2017, 11:03:16 PM

Here is a whitepaper about how to define a new proof of work system that gives preference to CPU's forever theoretically and is immune to vulnerabilities that encryption algorithms are prone to.
(link is to wayback machine so you can trust visiting it)

https://web.archive.org/web/20171212224738/http://www.naturehackerproducts.com/2017/12/new-proof-of-work-pow-method-based-on.html?m=1

The take home message is to find a single factor (of a length defined by the difficulty) of a very large number (over 100 digits).

Since it is such a large number GPU's become very slow at attempting it.

Factoring big numbers can be highly accelerated with quantum computers and Shor's algorithm.

https://en.wikipedia.org/wiki/Shor%27s_algorithm

In my opinion new POW algorithms should not only be ASIC resistant, they should also be quantum computing resistant.

Bitcoin would already suffer if some day quantum computers with enough qubits become reality as the private/public keys could be cracked with Shor's algorithm.
The SHA-256 hashing of the public key would prevent this attack, but there are already lot of public keys revealed which still contain balances (very old transactions, reused bitcoin addresses). And with those known public keys the private keys could be calculated.

Also RSA encryption (used for example in HTTPS connections) could be cracked quite easly with Shor's algorithm which might be the best what could happen to our nice three letter agencies to globally spy on every online connection.

It might still take long time until quantum computers with enough qubits are available, but we should try to avoid not quantum computing proof algorithms when creating new stuff.

Well since every other algorithm suffers massively RIGHT NOW from GPU and/or ASIC speed up, if all we have to worry anout is quantum computing then I think we are way way above par. For right now we don't even know if quantum computing the way it is envisioned will even work, let alone we have no idea what an actual application will be capable of. So I say we cross that bridge when we get there. For now we need gpu and asic and botnet and server farm resistance.