Ethereum co-founder Vitalik Buterin recently took to the X social media network to advocate for stronger encryption standards.
Based on recent difficulty data, Buterin calculated that Bitcoin's cumulative proof of work (the sum of all the computations spent on mining) is approximately 2^96 hashes. This marks an important computational milestone, equivalent to 96-bit security.
Buterin praised Ethereum researcher Justin Drake for advocating for a 128-bit security level (as seen in proposals such as the BLS12-381 curve and the Lean Ethereum roadmap). This will ensure future readiness for increased hashing power.
go ahead
Bitcoin protects itself through a proof-of-work (PoW) consensus algorithm, which secures the network by requiring miners to perform billions of SHA-256 hashes to find a valid block.
Cumulative PoW represents the total number of “energy barriers” that an attacker must overcome in order to rewrite history.
A total hash of 2^96 means the Bitcoin chain is protected by the equivalent of up to 96 bits of brute force security. Of course, this would be a huge amount of calculation in the real world.
Buterin used this particular milestone to argue that cryptographic primitives across the industry should target a security level of at least ~128 bits. That way, you'll be able to stay ahead of the curve and get comfortable with your computing power.
Many older cryptosystems only effectively provide up to 128 bits of security against certain attacks, making them potentially vulnerable.
