Bitcoin Warns of Quantum Computer Threat Response Time of 2 Years

A warning has been issued that the security system of Bitcoin needs to be improved in line with advancements in quantum computer technology. Stacks co-founder Muneeb Ali stated that Bitcoin could become vulnerable to attacks from quantum computers and argued that quantum-resistant cryptographic technology should be implemented within the next two years, along with the migration of existing assets to the new security system. This process is expected to take about four years. Currently, Bitcoin uses the ECDSA algorithm, but the emergence of quantum computers poses a risk to the existing cryptographic systems. The U.S. National Institute of Standards and Technology (NIST) is also pushing for the phasing out of cryptographic technologies that are vulnerable to quantum computers. Ali pointed out that merely introducing a new security system will not solve the problem, and that existing Bitcoin holders need to move their assets to secure addresses. Additionally, he projected that the transaction processing capability of the Bitcoin network could decrease to about 10% of its current level upon the introduction of quantum-resistant technology. Stacks aims to develop related technologies and expand network processing capabilities in preparation for these changes.

This content is provided for general informational purposes only and doesn't constitute financial, investment, legal, or tax advice. Any events, rewards, online promotions, or related information mentioned herein should not be considered a recommendation, solicitation, or invitation to purchase, sell, trade, or otherwise deal in any crypto assets. Crypto assets are highly volatile and may result in loss. The availability of WEEX services, products, and related events may vary by region. You are responsible for ensuring that your participation is in accordance with applicable local laws and regulations.