The event of quantum computing has raised issues about its potential impression on Bitcoin’s
$96,500.23
safety.
On February 19, Microsoft launched its newest quantum chip, Majorana 1. Google made the same innovation in December 2024 with its Willow chip.
Bitcoin alternate River weighed in on February 20, suggesting that whereas quantum computing shouldn’t be an instantaneous risk, progress within the subject might velocity up the necessity for stronger safety measures.
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The corporate stated, “The Majorana 1 chip is way from that scale now, however might attain the 1 million mark by 2027-2029 <…> When ran for a number of days to weeks, a 1-million qubit QC might doubtlessly crack Bitcoin addresses through a long-range assault”.
River additionally acknowledged, “This breakthrough shortens the timeline to make Bitcoin quantum-resistant. Even when it’s a decade away, addressing vulnerabilities early is essential”.
River CEO Alexander Leishman acknowledged that quantum computing doesn’t pose an instantaneous hazard to Bitcoin. Nevertheless, he disagreed with the argument that conventional banking would collapse earlier than Bitcoin, mentioning that banks have a number of layers of safety, equivalent to password authentication and guide approval for big transactions.
Not like conventional monetary establishments, Bitcoin depends on cryptographic safety. If a quantum assault had been to occur, an attacker would solely want entry to a Bitcoin public key to take advantage of vulnerabilities.
Not too long ago, Lightning Labs’ CTO, Olaoluwa Osuntokun, disagreed {that a} safety subject within the Lightning Community was brought on by a software program flaw. What did he say? Learn the complete story.
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