Bitcoin · Strategy · Ark Invest · Cointelegraph
Strategy-led group pledges $15 million to quantum-proof Bitcoin network
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A consortium led by Strategy and BlackRock has pledged $15 million to secure the Bitcoin network from the threat of a quantum computing breakthrough.
Key facts
- On Wednesday, Galaxy Digital pledged up to $5 million in grants for developers working on Bitcoin’s quantum security and elected a council of quantum-advisory experts to research quantum-resistant
- A consortium led by Strategy and BlackRock has pledged $15 million to secure the Bitcoin network from the threat of a quantum computing breakthrough
- Other founding members include Anchorage Digital, ARK Invest, BlackRock, Block, Blockstream, Coinbase, Fidelity Digital Assets and Galaxy
- The consortium pledged an aggregate $15 million over the next three years to support developers securing the Bitcoin network against the threat of a quantum computing breakthrough, Strategy announced
Summary
Michael Saylor’s Strategy announced the launch of the Bitcoin Security Consortium, a group of financial institutions and Bitcoin companies supporting the long-term quantum security of the Bitcoin network. The consortium pledged an aggregate $15 million over the next three years to support developers securing the Bitcoin network against the threat of a quantum computing breakthrough, Strategy announced in a Thursday press release. Other founding members include Anchorage Digital, ARK Invest, BlackRock, Block, Blockstream, Coinbase, Fidelity Digital Assets and Galaxy. On Wednesday, Galaxy Digital pledged up to $5 million in grants for developers working on Bitcoin’s quantum security and elected a council of quantum-advisory experts to research quantum-resistant migration solutions.