Bitcoin, Ethereum 'Q-Day' Quantum Threat Could Arrive as Soon as 2030: Report

The story

By the time Bitcoin and other networks are ready to defend themselves, it may already be too late, according to a new analysis.

From the source

Price data by In brief Quantum computers capable of breaking blockchain cryptography could arrive as soon as 2030, Project Eleven wrote in a report. Recent hardware developments have accelerated the potential timeline for the threat to crypto networks. Developers for Bitcoin, Ethereum, and other major blockchains are developing plans to prepare for the quantum threat. A sweeping new technical report warns that the cryptographic foundations securing trillions of dollars in digital assets could be broken by quantum computers within the next four to seven years—and that the blockchain industry is dangerously unprepared for the transition needed to survive.

The report , published by Project Eleven, a quantum security firm, concludes that a "cryptographically relevant quantum computer"—one powerful enough to crack the elliptic curve digital signatures protecting Bitcoin , Ethereum , and other major blockchains—is more likely than not to exist by 2033, and potentially as early as 2030.

"Migration to quantum-resistant cryptography is no longer optional but imperative for any blockchain system expected to be trusted and secure into the future," the report states.

Who and what

Key names and topics in this story: Bitcoin, Ethereum, Quantum Threat Could Arrive, Soon.

Where to follow next

• Read the full piece at decrypt.co
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