Nine Blockchain Groups Unite as Quantum Threat Hangs Over Bitcoin

A new coalition of nine blockchain organizations is tackling a problem that could eventually put roughly 6.4 million bitcoin at risk, including an estimated 1.1 million BTC associated with Satoshi Nakamoto. Launched this week, the Quantum Alliance wants to establish common security standards before powerful quantum computers can crack the digital signatures protecting cryptocurrency wallets. The threat isn’t here yet, but preparing for it could take years. Nearly one-third of Bitcoin’s supply could eventually become vulnerable to quantum computers, and a new industry coalition wants to get ahead of the threat. The Quantum Alliance, launched Oct. 15 in Lisbon, brings together nine blockchain organizations to establish common standards for protecting cryptocurrency networks, wallets, and infrastructure.

First reported by Bitcoin.com News. This page is a short excerpt; the full text is theirs.