Sui Network Targets Privacy Amid Quantum Computing Concerns

Source: CryptoNewsNet Original Title: Sui Network Targets Privacy Amid Quantum Computing Concerns Original Link:

Sui’s Privacy Transactions to Safeguard Users

On Dec. 30, Mysten Labs co-founder and Chief Product Officer Adeniyi Abiodun confirmed the potential rollout of privacy transactions on the Sui network by 2026.

He stated that this will be achieved via inherent privacy primitives at the protocol level. In the long run, seamless, regulation-compliant on-chain payments without user opt-in will be the result.

The team is attempting to build a system of full confidentiality, where only the sender and receiver can view details of the transactions between them.

Sui’s approach will rely on early privacy components developed 2-3 years ago. It will use built-in protocol tools to support DeFi and app development, a step that could position it as a leader in scalable, private blockchain transactions.

It will still maintain Sui’s hallmark high throughput and low fees. Adeniyi highlighted that Sui intends to be a world leader in the growing privacy-centered ecosystem.

This is particularly of interest because of the rising regulatory scrutiny, especially with the talks about upgrades in quantum computing and the potential threat.

Sui’s privacy pivot can be seen as a proactive defense against the incoming risks associated with quantum technology.

The network stands to enjoy institutional attention, as the solution will appeal to many such entities.

What Future Does Quantum Computing Hold for Bitcoin?

Tech experts are saying that quantum machines could eventually crack Elliptic Curve Cryptography (ECC). This is the foundation of most blockchains’ signatures and addresses, including Bitcoin.

Last October, crypto analyst Charles Edwards advised that a solution is needed to the quantum computing threat by next year, especially if proponents “actually care about Bitcoin.”

In his opinion, Bitcoin holders have downplayed the potential threat of the quantum-resistant upgrades. There are a few experts who support Edwards’ position, but not Michael Saylor.

The executive chairman of a Bitcoin treasury company doesn’t agree that quantum computing holds the worst concerns for Bitcoin. He believes that the technology will strengthen Bitcoin.