tldr; BlackRock has highlighted the risk of quantum computing in its Bitcoin ETF filing, warning that powerful quantum processors could decrypt private keys and compromise wallet security. Approximately 25% of bitcoins are stored in potentially vulnerable addresses. While advancements in quantum computing, like Google’s processors, pose a theoretical threat, experts argue that Bitcoin developers are already working on post-quantum solutions such as SPHINCS+. The transition to quantum-resistant cryptography may be complex but is seen as necessary for future security.
*This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.
Original-Assistant-8 on
A few quotes in there:
As Paolo Ardoino, CEO of Tether, explains, “*quantum machines are still far from being able to crack 256-bit security*“, providing some breathing room.
Days without a post about a risk from quantum computers for Bitcoin:
0
uncapchad on
Wouldn’t be a normal week without the lunatic doomers and their quantum pet rock. Yes it is a risk. To EVERYTHING digital. Don’t think your hydro-electric dam runing on 1990s Cobol code will be immune, nor aviation, shipping, banking and the entire supply chain. Oh what fun times ahead .
Yes it is being worked on. By EVERYONE. It’s another aspect of technology where all sorts of disciplines are questing for answers. Not just Bitcoin
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tldr; BlackRock has highlighted the risk of quantum computing in its Bitcoin ETF filing, warning that powerful quantum processors could decrypt private keys and compromise wallet security. Approximately 25% of bitcoins are stored in potentially vulnerable addresses. While advancements in quantum computing, like Google’s processors, pose a theoretical threat, experts argue that Bitcoin developers are already working on post-quantum solutions such as SPHINCS+. The transition to quantum-resistant cryptography may be complex but is seen as necessary for future security.
*This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.
A few quotes in there:
As Paolo Ardoino, CEO of Tether, explains, “*quantum machines are still far from being able to crack 256-bit security*“, providing some breathing room.
Opinions are divided in the crypto community. Some, like [Coin Bureau](https://x.com/coinbureau/status/1922197006715666823), warn about the **severity of the threat**. Their tweet highlights:
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Days without a post about a risk from quantum computers for Bitcoin:
0
Wouldn’t be a normal week without the lunatic doomers and their quantum pet rock. Yes it is a risk. To EVERYTHING digital. Don’t think your hydro-electric dam runing on 1990s Cobol code will be immune, nor aviation, shipping, banking and the entire supply chain. Oh what fun times ahead .
Yes it is being worked on. By EVERYONE. It’s another aspect of technology where all sorts of disciplines are questing for answers. Not just Bitcoin