Galaxy Digital's head of research, Alex Thorn, has addressed concerns about quantum computing's potential threat to Bitcoin's cryptography, stating that while the risk is real, it is not immediate. Thorn emphasized that the narrative of Bitcoin being unprepared is overstated, as efforts are underway to make the network quantum-resistant.
Quantum computing, which uses qubits capable of superposition, poses a theoretical risk by potentially deriving private keys from public keys. However, Thorn noted that most Bitcoin is not immediately vulnerable, as exposure primarily affects coins with public keys already revealed on-chain. Developers are actively working on solutions, including new address types using post-quantum cryptography, to mitigate long-term risks. Thorn reassured investors that while quantum risk should be monitored, it should not deter Bitcoin exposure, as the network is evolving to address credible threats.
Galaxy Digital: Bitcoin Faces Quantum Risk, But Not Imminent Threat
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