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zeekayandHanzo Dev
70f6883235
A July commit removed eight papers on the premise "no license — DEX/non-custodial only". That premise is wrong: Lux operates an ATS, a broker-dealer, a transfer agent and a bank, and this material is resold at lux.financial. The merge that brought main in preserved the removal because the commit stated a reason, which is how a stale reason outlives the fact it rested on. Back, at the versions main carried — main never received the removal, so its copies are the later ones: the ATS architecture, the security-token standard, smart order routing, institutional custody, MPC custody, post-quantum securities, the SSB partnership and the CoinBridge brief. 83 files. Co-authored-by: Hanzo Dev <[email protected]>
37 lines
1.7 KiB
TeX
37 lines
1.7 KiB
TeX
\section{Introduction}
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\label{sec:intro}
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%% =====================================================================
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The quantum threat to elliptic curve cryptography is not a question of
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whether but when. Shor's algorithm~\cite{shor1994} solves the elliptic
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curve discrete logarithm problem in polynomial time on a quantum
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computer. Once a CRQC exists, every ECDSA private key is recoverable
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from its public key, and every historical signature becomes forgeable.
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For cryptocurrencies with short-lived state (e.g., daily trading
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balances), the quantum threat can be mitigated by migration at the
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time CRQCs become imminent. For digital securities, this strategy
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fails for three reasons:
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\begin{enumerate}[nosep]
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\item \textbf{Long asset lifetimes.} Bonds, real estate tokens, and
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structured products have maturities of 10--30 years. A security
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issued in 2026 with a 30-year maturity must remain unforgeable
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until 2056.
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\item \textbf{Harvest-now, decrypt-later.} An adversary can record
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signed transactions today and forge them once a CRQC is
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available. For securities, this means retroactive forgery of
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ownership transfers.
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\item \textbf{Regulatory record-keeping.} SEC Rule 17a-4 requires
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broker-dealers to retain records for 6 years; FINRA Rule 4511
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requires 6 years. If signatures become forgeable during the
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retention period, the audit trail is compromised.
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\end{enumerate}
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The Lux network addresses this by deploying post-quantum cryptography
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as native EVM precompiles at genesis. This is not a future roadmap
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item; it is a day-one capability.
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%% =====================================================================
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