Blockstream Lead Research Talks About Bitcoin’s Vulnerability To Quantum Computing
Bitcoin Might Be Vulnerable To Quantum Computing
Having proper security in place is an essential feature for any digital asset. As a result, it leads to many debates as to whether Bitcoin is well protected from hacks or just technological developments that could take place.
Could Quantum Security Affect The Crypto Space
Andrew Poelstra, who is the Lead researcher at the Blockstream, in a new episode of the what bitcoin did, was asked about Quantum computing. They wanted to know if it could be a real threat to some of the blockchains or Bitcoin in the crypto space.
He states that the threat was evident, but the good news is that we still have a long way from it. He went on to say that he was expecting that quantum computing would come into play against Bitcoin in probably less than 15 years, and he could even be more surprised if it happened in less than 25 years.
Thus, it is still essential for the community to take the needed action against quantum computing, as there is a need to have adequate preparation for the technological changes that would happen. Without having sufficient development within the community, the investors will easily get blindsided.
“It’s important now that we started working on standardization and exploring ideas and exploring what Bitcoin is going to look like in a post-quantum world, but in the current scenarios there were no candidates for post-quantum schemes that would be reasonable to deploy them in a Bitcoin.”
More On Quantum Security
Having quantum security within the crypto space is a topic that is being widely debated among the notable personalities within the crypto space. One of the prominent eToro Analysts, Mati Greenspan, stated that the threat is only to Bitcoin if it was made available to only one person.
If people went ahead to upgrade to quantum computing, then the Bitcoin miners would also need to go ahead and update, to ensure they are protected from the 99% chance of being attacked, a risk that is possible with the quantum computing.