tldr; BlackRock has updated its iShares Bitcoin Trust (IBIT) prospectus to expand risk disclosures about quantum computing’s potential impact on Bitcoin’s cryptographic security. The filing highlights concerns that advances in quantum computing could compromise Bitcoin’s security, potentially affecting wallets and the network. While the Bitcoin community is working on quantum-resistant solutions, there is no guarantee of timely implementation. The update follows recent quantum computing advancements by Google and Microsoft, which have reignited concerns about the technology’s implications for digital assets.
*This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.
Original-Assistant-8 on
BlackRock outlines the reality that once people realize there is even a small risk, they will demand security or will sell their asset.
There is a reason top companies like IBM, NVIDIA, Google formed the LINUX pqca. Only 23 members! QANX is a member from the crypto space, which is how I started to learn about this years ago.
Eth, ada have talked about needing 3+ years to solve.
Sol offered a vault to protect while they try to find a real solution.
Btc is starting discussions, but still not any real movement. Btw, if you put your coins in a wallet with no outgoing transactions, you get the same short term protection as sol’s vault. That would keep it safe even if btc needs 6 months to have all the transfers process into wallets with post quantum cryptography.
Creative_Ad_8338 on
I mean, if quantum can crack BTC then nothing else is safe either.
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tldr; BlackRock has updated its iShares Bitcoin Trust (IBIT) prospectus to expand risk disclosures about quantum computing’s potential impact on Bitcoin’s cryptographic security. The filing highlights concerns that advances in quantum computing could compromise Bitcoin’s security, potentially affecting wallets and the network. While the Bitcoin community is working on quantum-resistant solutions, there is no guarantee of timely implementation. The update follows recent quantum computing advancements by Google and Microsoft, which have reignited concerns about the technology’s implications for digital assets.
*This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.
BlackRock outlines the reality that once people realize there is even a small risk, they will demand security or will sell their asset.
There is a reason top companies like IBM, NVIDIA, Google formed the LINUX pqca. Only 23 members! QANX is a member from the crypto space, which is how I started to learn about this years ago.
Eth, ada have talked about needing 3+ years to solve.
Sol offered a vault to protect while they try to find a real solution.
Btc is starting discussions, but still not any real movement. Btw, if you put your coins in a wallet with no outgoing transactions, you get the same short term protection as sol’s vault. That would keep it safe even if btc needs 6 months to have all the transfers process into wallets with post quantum cryptography.
I mean, if quantum can crack BTC then nothing else is safe either.