Quantum Alliance forms amid warnings 6.4 million bitcoin face future quantum threat
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Who gets Satoshi Nakamoto’s 1.1 million bitcoin, and, for that matter, millions more that are at risk if quantum computers become powerful enough to break the security protecting it, has been a topic of intense debate for quite some time. Christopher Smith, CEO of quantum-resistant layer-1 blockchain Quantus, believes whoever develops that technology first could take those tokens worth billions, potentially with government backing. “The most likely scenario is that whoever gets the first CRQC (Cryptographically Relevant Quantum Computer) will take them, probably with the blessing of whichever national government,” Smith told CoinDesk. “Hopefully it’s a government that likes bitcoin.” The security researcher and protocol engineer’s warning comes as nine crypto companies unveiled the Quantum Alliance on Thursday to develop common security standards for bitcoin, Ethereum and other blockchain networks.
First reported by CoinDesk. This page is a short excerpt; the full text is theirs.
