US EditionBlackRock Issues Rare Warning: Is Bitcoin’s Future at Risk From Quantum Tech?
- BlackRock, the world's largest asset manager with over $11.6 trillion in assets, recently warned about quantum computing's threat to Bitcoin security in its iShares Bitcoin Trust ETF prospectus.
- This warning follows advancements in quantum algorithms like Shor's, which could break Bitcoin's elliptic curve digital signatures and SHA-256 hashing, core to its transaction security.
- Experts note that a quantum computer could derive private keys from public keys, threatening older wallets holding around 5.9 million BTC and jeopardizing all recorded transactions once 'Q-Day' arrives.
- Google researchers recently revised hardware estimates downward to under one million qubits needed to break Bitcoin's encryption, indicating the timeline for a threat may be shorter than previously expected.
- The industry is actively pursuing quantum-resistant cryptography, with experts stressing urgent protocol upgrades to prevent network splits and secure Bitcoin's future against advancing quantum threats.
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12 Articles
Quantum Computing Is Threat To BTC: BlackRock
BlackRock, the world’s largest asset manager, has issued a warning regarding the potential threat of quantum computing to Bitcoin (BTC) and other digital assets. In a recent update to its iShares Bitcoin Trust ETF (IBIT) prospectus, BlackRock explicitly included quantum computing as a risk factor, stating that it could render Bitcoin’s source code “flawed or ineffective. It means, if quantum technology advances sufficiently, it could compromise …
Blackrock’s Updated Bitcoin ETF Prospectus Reveals Hidden Danger: Quantum Hack Risk - Coin Surges
A freshly revised prospectus for Blackrock’s Ishares Bitcoin Trust (IBIT) now includes a cautionary note that the advent of powerful quantum computing—and related developments—could render Bitcoin’s foundational cryptographic safeguards “becoming ineffective.” Blackrock Flags Quantum Computing Risk This week, the debate around quantum computing and Bitcoin has reignited within the crypto sphere, with renewed speculation over […] Read Entire Arti…
Blackrock’s Updated Bitcoin ETF Prospectus Reveals Hidden Danger: Quantum Hack Risk – Crypto News Bitcoin News
A freshly revised prospectus for Blackrock’s Ishares Bitcoin Trust (IBIT) now includes a cautionary note that the advent of powerful quantum computing—and related developments—could render Bitcoin’s foundational cryptographic safeguards “becoming ineffective.” Blackrock Flags Quantum Computing Risk This week, the debate around quantum computing and Bitcoin has reignited within the crypto sphere, with renewed speculation over […]
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