Zcash developers are in a rush to create a wallet-level change to limit the future impact of quantum attacks. The proposed updates would allow every ZEC swap on NEAR to use its own private key.
Zcash privacy swaps target future quantum risks
The team behind Zakura is stepping up to address future quantum risks. Notably, the developers have proposed giving every ZEC swap made through NEAR Intents its own private key.
The privacy milestone would practically reduce or entirely close the gap that quantum computers could use to piece together users’ payment histories.
When users swap private ZEC for USDC via NEAR Intents, a single private Zcash address is published, and any unused ZEC can be returned. The address then remains visible regardless of whether a refund is needed.
These addresses reveal little information to current computers. However, a quantum computer could theoretically work backwards from the addresses to recover the key.
This remains a potential threat hanging over blockchains, especially those whose public keys are already on-chain for anyone to copy. While quantum computers capable of doing this remain a possibility in the future and may be years away, developers are rushing to solve the problem.
Every swap gets its own key
Zakura’s proposed fix allocates each swap its own viewing key while keeping the spending key on the user’s main account.
With each swap having its own key, the refund address exposed on NEAR would reveal only the payment linked to that swap. In doing so, the transaction would avoid exposing users’ full payment histories.
Zakura’s approach mainly relies on a database that wallets can query privately without revealing sensitive information.
In such a setup, the wallet asks where refunds landed and receives an answer without the database learning which address was queried.
According to the developers, no quantum computer has been shown to be capable of recovering these keys.
Zakura noted that wallets using its open-source libraries could add the feature in the coming weeks, while hardware wallets are expected to follow by January.
Could it help ZEC?
Lately, investors have shown greater interest in privacy coins, and ZEC has benefited greatly. Therefore, continued development to address future risks could make ZEC even more attractive.
Based on previous market reactions, Zcash could make further gains on the charts. As of this writing, Zcash was trading around $1,171, up 3.8% on the daily charts.
Thus, if historical patterns repeat themselves, ZEC could extend these gains, potentially flip $1.2K, and target a move above $1,250.
Final Summary
- Zakura proposed using a private key for every ZEC swap via NEAR Intents.
- The proposed change aims to address and mitigate future risks in quantum computing.
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