The event of quantum computing has raised considerations about its potential influence on Bitcoin’s
$96,456.05
safety.
On February 19, Microsoft launched its newest quantum chip, Majorana 1. Google made the same innovation in December 2024 with its Willow chip.
Bitcoin change River weighed in on February 20, suggesting that whereas quantum computing shouldn’t be an instantaneous menace, progress within the area may pace up the necessity for stronger safety measures.
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The corporate mentioned, “The Majorana 1 chip is way from that scale now, however may attain the 1 million mark by 2027-2029 <…> When ran for a number of days to weeks, a 1-million qubit QC may doubtlessly crack Bitcoin addresses through a long-range assault”.
River additionally said, “This breakthrough shortens the timeline to make Bitcoin quantum-resistant. Even when it’s a decade away, addressing vulnerabilities early is essential”.
River CEO Alexander Leishman acknowledged that quantum computing doesn’t pose an instantaneous hazard to Bitcoin. Nonetheless, he disagreed with the argument that conventional banking would collapse earlier than Bitcoin, stating that banks have a number of layers of safety, akin to password authentication and handbook approval for giant transactions.
Not like conventional monetary establishments, Bitcoin depends on cryptographic safety. If a quantum assault had been to occur, an attacker would solely want entry to a Bitcoin public key to use vulnerabilities.
Lately, Lightning Labs’ CTO, Olaoluwa Osuntokun, disagreed {that a} safety concern within the Lightning Community was brought on by a software program flaw. What did he say? Learn the total story.
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