Quantum progress put Bitcoin's security to the test
Quantum computing is no longer just a theoretical threat to Bitcoin – it quickly develops into a real threat.
IBM plans to launch the world's first fault -tolerant quantum computer called Quantum Starling by 2029. This schedule may still appear far away, but according to experts, the countdown has already started cryptographic billing.
Google researcher Craig Gidney recently revealed that quantum machines could be much closer to cracking encryption than before. His study showed that current estimates for cracking RSA keys-a relative of the elliptical curve cryptography used by Bitcoin-were too optimistic. According to its calculations, ECC could be compromised within a decade, possibly as early as 2030.
In the meantime, there is not agreement everywhere about how great the danger actually is. Blockstream CEO Adam Back believes that it will take at least 20 years for quantum machines to be efficient enough to threaten Bitcoin. However, he admits that the cryptocelt may have to migrate funds on quantity -proof addresses, including dormant stocks such as those of Satoshi Nakamoto.
Others demand faster action. David Carvalho, CEO of Naoris Protocol, warns that some new technologies – such as Microsoft's quantum hardware – could shorten the time frame to just five years. He claims almost a third of all BTCs are in susceptible wallets, and a single attack could shake public trust.
Investor Chamath Palihapitiya shared these fears at the end of last year and argued that Bitcoin's central Hashing Algorithm could be cracked even faster with enough quantum chips. He believes that developers must now start modernizing before the threat becomes irreversible.
While quantum computers are still facing massive technical hurdles, the race is about preparing Bitcoin's defense mechanisms before it is too late.
