Vitalik Buterin, the co-founder of Ethereum, has recently announced his ambitious goal for the Ethereum blockchain: to achieve quantum resilience. Quantum resilience refers to the ability of a cryptographic system to resist attacks from quantum computers, which are expected to surpass the computational power of classical computers in the near future.

Quantum computers could potentially break some of the encryption schemes that secure the blockchain, such as elliptic curve cryptography and hash-based signatures. This would compromise the integrity and security of the network and expose users’ funds and data to theft or manipulation.

Buterin’s vision is to make Ethereum quantum resilient by implementing a new type of signature scheme called Lamport signatures, which are based on one-time use keys that are immune to quantum attacks. Lamport signatures are already supported by some Ethereum clients, such as Geth and Parity, but they are not widely used due to their large size and high gas costs.

Buterin proposes to reduce these drawbacks by introducing a new layer of abstraction called signature aggregation, which allows multiple Lamport signatures to be combined into a single compact signature that can be verified by anyone on the network. This would significantly reduce the storage and bandwidth requirements, and make Lamport signatures more feasible and attractive for Ethereum users.

Buterin acknowledges that achieving quantum resilience is not an easy task, and that it will require a lot of research, development, testing, and coordination among the Ethereum community. He also admits that there are some trade-offs and challenges involved, such as the increased complexity of the protocol, the loss of backward compatibility, and the potential impact on scalability and interoperability.

However, he believes that these issues can be overcome with enough innovation and collaboration, and that quantum resilience is worth pursuing as a long-term goal for Ethereum.

Buterin’s announcement has sparked a lot of interest and debate among the crypto enthusiasts and experts. Some have praised his vision and leadership, while others have questioned his motives and feasibility. Some have argued that quantum resilience is not a pressing concern for Ethereum, as quantum computers are still far from being practical and widely available.

Other have pointed out that quantum resilience is not a binary property, but a spectrum that depends on various factors, such as the type and size of the quantum computer, the type and strength of the encryption scheme, and the type and value of the data being protected. They have suggested that instead of aiming for absolute quantum resilience, Ethereum should adopt a more flexible and adaptive approach that balances security and efficiency.

Regardless of the opinions and perspectives, it is clear that Buterin’s proposal has opened up a new frontier for Ethereum’s development and innovation.

Quantum resilience is not only a technical challenge, but also a strategic opportunity for Ethereum to differentiate itself from other blockchains and to position itself as a leader in the crypto space. Whether or not Buterin’s goal will be achieved remains to be seen, but it is certainly an exciting and inspiring one to watch.

“For most of this year, the naira will be highly volatile, leading to regulatory erraticism that can affect businesses, especially those holding foreign currency. The CBN lacks the liquidity to support the naira itself; out of US$33bn in foreign reserves, a large share (estimated at nearly US$20bn), is committed to various derivative* deals,” – Economist Intelligence Unit (EIU)

You see the reason why I wrote that people should forget those Wall Street banks which are predicting how the Naira will appreciate. All of them are conflicted because they’re managing Nigeria’s funds while also consulting for Nigeria, dropping mindless opinions. The implication is that they can never write anything that will offend Nigeria as those funds could be moved. In other words, how can you write a bad opinion on a client you are keeping his/her $5 billion?

I will only believe Wall Street banks when they posit and also help Nigeria improve our FDI (foreign direct investment). With that, I will then believe that they’re very confident of the Naira to convince their investing clients to make Nigeria an investment destination. Today, that is not happening and that says it all.

When I was a kid in primary school, then Imo State Governor, Sam Mbakwe, used to show a piece of paper on the television (I was later told that he was explaining the economic status of the state, and why people needed to donate funds to the state for projects). Nigeria’s President should come clean on where things stand in Nigeria. Until he does, he may struggle to fix things. I do hope he does so that from ASUU to NLC, everyone will get the memo.