Bitcoin's Quantum Threat Is Real. The Migration Clock Is Ticking

The industry keeps asking when a quantum computer will be powerful enough to crack Bitcoin. Elliptic-curve cryptography has been known to be quantum-vulnerable for more than thirty years, and crypto still has no mechanism to make everyone move off it. Fortune put the exposure at $2 trillion in digital assets secured by elliptic-curve cryptography, against a total crypto market worth $2.8 trillion. Nearly the whole asset class rests on cryptography the industry already agrees is finished. Developers can introduce new signature types, but moving the assets depends on custodians acting for clients and on self-custodied holders acting for themselves. Participation stays optional, and delay stays rational until the risk changes abruptly. The Cost of Moving First NIST has already standardized replacement signature schemes, so post-quantum solutions are available today.

First reported by BeInCrypto. This page is a short excerpt; the full text is theirs.