Blockstream CEO Adam Back has asserted that Bitcoin is unlikely to encounter significant risks from quantum computing for the next 20 to 40 years. Back's comments, reported by PANews, were made in response to concerns about Bitcoin's vulnerability to quantum attacks. He highlighted that the National Institute of Standards and Technology (NIST) has already approved post-quantum cryptography standards, which Bitcoin could adopt well before quantum computers capable of breaking its encryption become available.
The discussion was sparked by a video from venture capitalist Chamath Palihapitiya, who suggested Bitcoin might face quantum threats within two to five years. However, Back countered that a quantum computer would require around 8,000 qubits to compromise Bitcoin's SHA-256 encryption, a capability not expected to be achieved in the near future.
Adam Back: Bitcoin Safe from Quantum Threats for 20-40 Years
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