The security of cryptocurrency is under threat from AI, a point made by Justin Drake, an Ethereum Foundation researcher who sees the swift progress of AI as a means to expose the vulnerabilities of Bitcoin and Ethereum in short order. The crypto world is at odds over what to do about it, with some making impassioned pleas for new defenses against what they see as a growing software menace.
AI’s Rapid Progress Raises Alarms
Drake has issued a warning that within months AI could uncover hidden flaws in the cryptographic systems currently in place. He points to the way OpenAI and Google DeepMind have been advancing their models, to the extent that they will be performing at gold medal level at the International Mathematical Olympiad this summer; such is the speed with which AI can be applied to the kind of complex mathematics that blockchains rely on for their security.
It is not a matter of hardware as with the quantum threat but of software on any given computer, so the risk is more easily scaled and immediate. Drake’s pronouncements have been met with a good deal of controversy in the industry. While some are calling for prompt action, other experts regard the alarm as nothing more than FUD (fear, uncertainty, and doubt).
Industry Divided Over Response Strategies
Vitalik Buterin of Ethereum concedes the AI danger is real yet cautions against overreacting, says Coin Bureau. In the community at large, opinion is divided between those wanting to implement defensive upgrades and those who think the threat is being exaggerated.
For his part, Drake is advocating a ‘bunker mode’ approach: move funds to new addresses and expedite the adoption of stronger algorithms. Exchanges and custodians will probably spearhead the move to safer systems given their ability to handle user assets in bulk.
Ethereum and Bitcoin Chart Different Courses
Ethereum is taking firm steps to insulate its base layer from AI attacks before the decade is out. Bitcoin is another story; its conservative approach and the slow pace of upgrades are an impediment to quick change and have led some to question the network’s agility. Then there is the fact that a third of all Bitcoin is in addresses with a publicly known cryptographic lock, an open invitation to an AI attack should the technology be allowed to advance unchecked.
How Users Can Stay Safe Amid AI Advances
In light of the risks AI poses, a degree of vigilance is called for. To limit one’s exposure to any cryptographic weaknesses an AI might uncover, experts advise users to use current wallet software, avoid reusing addresses, and keep an eye on official announcements about upgrades.
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