Bitcoin Migration (BTC) to post-quantum standards will take at least 5 to 10 years, according to Jameson Lopp, lead developer of Bitcoin and co-founder of cryptocurrency custody company Casa, who has been involved in the ongoing quantum computer debate.
Lopp agrees with Adam Back, CEO of crypto infrastructure company Blockstream, that there is no short-term threat to Bitcoin from quantum computers. Lopp said in an job.
“Quantum computers will not break Bitcoin in the near future. We will continue to observe how they evolve. Yet making thoughtful changes to the protocol and unprecedented fund migration could easily take 5-10 years.”
We must hope for the best, but prepare for the worst,” he added. jobhe said the Bitcoin protocol is more difficult to upgrade to post-quantum standards than centralized software because of its distributed consensus model.
The debate over the quantum threat and possible solutions continues to be a major topic of discussion in the Bitcoin community, with a growing schism between Bitcoin maximalists, who call for caution in changes to the protocol, and venture capitalists (VCs), who say the the quantum threat is imminent.
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“Quantum resistance solutions are affordable enough to be funded by nonprofits and venture capitalists,” Bitcoin maximalist Pierre Rochard. said.
Rochard added that it would be so expensive to attack Bitcoin via quantum computers that the government would be forced to “subsidize it as a collective action problem.”
Samson Mow, Bitcoin investor and CEO of holding company and advocacy group JAN3, also questioned the ability of a quantum computer to hack Bitcoin’s security.
“In reality, quantum computers cannot take into account the number 21 – not 21 million – 21, without extensive customization of the algorithm,” Mow said. said.
Despite this, venture capitalists and other investment firms warn that The price of BTC is impacted by the threat, or perceived threat, of quantum computers.
The price of BTC could drop below $50,000 if the protocol is not quantum ready by 2028, according to Charles Edwards, founder of digital asset investment fund Capriole.
Edwards called on Bitcoin node operators to apply Bitcoin Improvement Proposal (BIP) 360which introduces a quantum signature scheme for BTC.
Review: A quantum attack on Bitcoin would be a waste of time: Kevin O’Leary
