Crypto firms prepare defenses as quantum threat to encryption draws nearer
Crypto firms are planning post-quantum upgrades as Google warns encryption-breaking machines could arrive by 2029, raising costs and infrastructure changes.
- The cryptocurrency industry is beginning to upgrade networks with quantum-resistant cryptography as concerns grow that future quantum computers could crack the encryption protecting digital wallets and transactions.
- About $2 trillion in global crypto assets face potential vulnerability because major blockchains rely on decades-old elliptic-curve cryptography, which quantum machines could eventually unscramble to forge digital signatures.
- Bitcoin remains particularly exposed, with estimates suggesting roughly 35 per cent to 50 per cent of its circulating supply could be vulnerable due to visible public keys from its 17-year history.
- The Algorand Foundation recently published a post-quantum roadmap and plans to support new accounts later this year, though industry executives warn that migration is complex and could increase costs.
- Google Research suggests quantum machines capable of breaking encryption could arrive by 2029, prompting comparisons to the Y2K-style overhaul as the industry prepares for a potentially years-long security transition.
32 Articles
32 Articles
Crypto firms prepare defenses as quantum threat to encryption draws nearer
The cryptocurrency industry is starting to prepare for the threat of quantum computing as recent advances fuel concerns that the technology could soon be able to crack the cryptography that protects transactions and digital wallets.
![[your]NEWS](/_next/image?url=https%3A%2F%2Fgroundnews.b-cdn.net%2Finterests%2Ffb6dc495f74049f513563c33352175eaa0ecd509.jpg%3Fwidth%3D24&w=64&q=75){kind=small}
Quantum Computing Sparks Race to Protect Cryptocurrencies from a Growing Security Threat
The global cryptocurrency industry is accelerating efforts to protect digital assets from what many experts now describe as one of the biggest long-term threats to ... The post Quantum Computing Sparks Race to Protect Cryptocurrencies from a Growing Security Threat first appeared on [your]NEWS.
Conventional encryption methods used in cryptocurrency transactions are vulnerable to emerging technology. The post Why quantum computers are an “existential threat” to cryptocurrencies appeared first on in.gr.
Global cryptocurrency market worth $2 trillion set to collapse? What is spelling trouble for crypto firms?
Crypto industry concerns have grown since March research from Alphabet's Google, one of several tech giants pioneering the technology, suggested quantum computers may be able to break that cryptography sooner than previously expected
Coverage Details
Bias Distribution
- 71% of the sources are Center
![[your]NEWS](/_next/image?url=https%3A%2F%2Fgroundnews.b-cdn.net%2Finterests%2Ffb6dc495f74049f513563c33352175eaa0ecd509.jpg%3Fwidth%3D60&w=128&q=75)
Factuality
To view factuality data please Upgrade to Premium
