Coinbase Quantum Advisory Council He released a statement stating that Quantum does not pose any risk to Bitcoin, at least for now.
A paper compiled by researchers from various universities and crypto organizations says that not all cryptocurrencies are at risk from Quantum. Specifically, Bitcoin’s “underlying infrastructure” is secure, and mining, hashing functions, and historical information are not at risk.
The report notes that wallet-level risk is an issue where quantum computing could eventually hack and steal your crypto.
While we note that Quantum does not actually exist today, but is approaching, we state that now is the time to prepare by upgrading security measures across the entire crypto ecosphere.
The council says different blockchains address the issue in different ways:
- While the community is not yet committed to a full upgrade plan, Bitcoin is exploring new address formats that better secure keys.
- Ethereum has released a detailed migration roadmap that could actually increase network scalability in the process.
- Solana, Algorand, and Aptos have begun or are planning to offer quantum-resistant options to users.
- Tier 2 networks like Optimism have announced migration plans with specific deadlines.
Coinbase says that they have adopted practices that simplify updates and increase resilience against cyber threats.
Although the threats are not imminent, their future is unknown. Google’s The research sees potential risks emerging from 2029 to 2035.
