Experts warn that new supercomputers may soon be powerful enough to crack Bitcoin’s cryptography.
- Quantum computers may break Bitcoin’s security in less than five years.
- Governments are preparing for quantum-safe systems by 2030.
- Bitcoin community must act now to avoid future risks.
What’s the Quantum Threat?
Quantum computers are a new type of technology that can solve problems much faster than regular computers. These machines can break the cryptography used in Bitcoin, making it easier for hackers to steal funds. Around 30% of Bitcoin is stored in ways that are especially weak against quantum attacks.
Why This Matters Now
This year, Microsoft created the Majorana chip, which sped up the timeline for building useful quantum computers. Experts now think we could see these machines working at a dangerous level within five years. Some believe it could happen even sooner — as early as next year.
Global Preparations Underway
Agencies like the U.S. National Institute of Standards and Technology (NIST) are working to switch to quantum-resistant security by 2030. Major financial firms, including BlackRock, have recognized the risk. They even noted it in legal filings for their Bitcoin ETFs.
The Risk of “Q-Day”
“Q-Day” is the name given to the day when quantum computers can actually break Bitcoin’s code. Once this happens, old and even new Bitcoin transactions could be unsafe. Hackers are already saving encrypted data today, waiting until they can break it later. This is called “harvest now, decrypt later.”
Bitcoin Needs to Evolve
Updating Bitcoin to withstand quantum threats is tough. Changes like hard forks are controversial in the Bitcoin world. But experts say waiting too long could be even more dangerous. Some suggest partial fixes, such as layered security and quantum-safe key management, as safer options.
What’s at Stake?
If Bitcoin does not upgrade soon, even a single hacked wallet could destroy trust. Bitcoin’s total market value is now over $2.2 trillion. Losing public confidence could crash the system. This isn’t just about technology. It’s about survival in the face of a real and coming threat.
Source: cointelegraph.com
