← Back to KHAO

Bitcoin · Ethereum ·

Quantum Alliance forms amid warnings 6.4 million bitcoin face future quantum threat

2 min read

Compiled by KHAO Editorial — aggregated from 1 source. See llms.txt for citation guidance.

★ Tier-1 Source

Experts have not been able to forecast a precise date when quantum computing will become an actual threat. (Planet Volumes/Unsplash)

Who gets Satoshi Nakamoto’s 1.1 million bitcoin, and, for that matter, millions more that are at risk if quantum computers become powerful enough to break the security protecting it, has been a topic of intense debate for some time.

Key facts

Summary

Experts warn that a future quantum computer could expose the secret keys of wallets holding an estimated 6.4 million bitcoin, including 1.1 million attributed to Satoshi Nakamoto, though no existing machine can do so. Researchers disagree on when the threat could emerge, with one citing 2028 as realistic, while a new industry alliance is developing standards to help blockchains adopt quantum-resistant security. Proposals to freeze, move or place vulnerable bitcoin in a trust have raised concerns about property rights and network neutrality, and any security upgrade would require broad coordination across the Bitcoin ecosystem. Christopher Smith, CEO of quantum-resistant layer-1 blockchain Quantus, believes whoever develops that technology first could take those tokens worth billions, potentially with government backing.

Read full article at CoinDesk →

#Bitcoin #Ethereum