Ethereum Foundation Drops Poseidon Hash for Quantum Era
Ethereum Foundation abandons Poseidon hash function on its base layer, moving to options like SHA or BLAKE, as it prepares for the quantum era and potential cryptanalysis risks. Researchers have been exploring alternative hash functions since 2018, when the Ethereum Foundation started funding SNARK-friendly hashes. The decision marks a shift in approach driven by rising concerns of quantum computing and cryptanalysis risks.
Live market snapshot (at publish): ETH $1,875.19 (-1.1% 24h)
2018 marked the beginning of Ethereum Foundation's funding for SNARK-friendly hashes, with Poseidon arriving in 2019. However, recent research has shown that traditional hash functions can now match Poseidon in a SNARK. According to researcher Justin Drake, "Off-the-shelf traditional hash functions like SHA2 and BLAKE2s can now match Poseidon in a SNARK. In hindsight the key was not SNARK-friendly hashes, but hash-friendly SNARKs."
The Ethereum Foundation's move to abandon the Poseidon hash function enhances the security measures of the cryptocurrency and prepares it for potential risks associated with quantum computing. As researcher Justin Drake notes, "As AI becomes exceptional at cryptanalysis, the contrarian bet to avoid riskier structures like lattices and isogenies is visibly paying off. The past weeks have been brutal. Lattice-based “HAWK” and isogeny-based “SQIsign,” both signature schemes in NIST’s Round 3, have suffered blows. Sources I trust say more blood is coming." This change may have a positive impact on the Ethereum market.
100x slower than native CPU compute, the Poseidon hash function has been deemed less efficient than traditional hash functions. In contrast, traditional hash functions like SHA or BLAKE offer a more secure and efficient alternative.
Analysis: A successful shift to traditional hash functions may lead to increased investor confidence in the Ethereum market. The impact of this change will depend on various factors, including the adoption of quantum computing and the effectiveness of the new hash functions. A break below the current support level would signal a potential downturn, while a hold above the resistance level would indicate a bullish trend.
The Ethereum Foundation's plans include the deployment of production-grade leanVM in 2027 and consensus, data, and execution layer deployments in 2028, further enhancing the security and efficiency of the Ethereum network. As the cryptocurrency market evolves, the Ethereum Foundation's decision to abandon the Poseidon hash function is a step towards ensuring the long-term security and viability of the Ethereum network. Watch for the Ethereum Foundation's upcoming developments to assess the impact of this change on the Ethereum market.
Frequently Asked Questions
- What is the Poseidon hash function?
- The Poseidon hash function is a cryptographic hash function designed for use in zero-knowledge proofs and other cryptographic applications.
- Why is the Ethereum Foundation dropping the Poseidon hash function?
- The Ethereum Foundation is dropping the Poseidon hash function due to the rising concerns of quantum computing and cryptanalysis risks, and is instead opting for traditional hash functions like SHA or BLAKE.
- How will this change affect the Ethereum market?
- The shift to traditional hash functions may have a positive impact on the Ethereum market as it prepares for the quantum era and enhances its security measures.