At the ETH Denver conference, developers highlighted the looming threat of quantum computing to Bitcoin’s digital signatures, emphasizing the urgency of addressing this vulnerability as advances in technology progress. Notably, Bitcoin’s primary risk stems from Shor’s algorithm, which could potentially reverse-engineer private keys from public keys, endangering ownership and security. Over 6.9 million Bitcoin are currently stored under exposed public keys, highlighting significant risks if quantum capabilities are realized before adequate protective measures are established. In response to these growing concerns, the Ethereum Foundation has formed a post-quantum security team, and Coinbase has set up an advisory board to evaluate the implications of quantum computing on digital assets.
Bitcoin’s quantum computing risks discussed at ETH Denver conference
