A recent analysis by investment bank Benchmark indicates that the threat posed by quantum computing to Bitcoin and other cryptocurrencies remains decades away. The report, authored by analyst Mark Palmer, suggests that while theoretical vulnerabilities exist, practical quantum attacks on Bitcoin's cryptographic structure are unlikely in the near future. This is due to the significant technological advancements required to develop quantum computers capable of breaking current cryptographic standards, which experts estimate will take 15-30 years.
The analysis highlights that only Bitcoin addresses with exposed public keys through transactions are at risk, while most holdings remain protected by hash functions. The cryptocurrency industry is actively working on quantum-resistant algorithms, with major projects like Ethereum and Cardano incorporating these considerations into their development plans. The extended timeline provides ample opportunity for the ecosystem to adapt and implement necessary security upgrades, ensuring blockchain resilience against future quantum threats.
Quantum Computing Threat to Bitcoin Decades Away, Benchmark Analysis Reveals
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