BlackRock, Coinbase, Strategy Pledge $15 Million to Prepare Bitcoin for Quantum Threats
The consortium will fund developers and projects over 3 years as Bitcoin backers debate how soon quantum computing could threaten the network.
- On Thursday, Strategy and BlackRock launched the Bitcoin Security Consortium, pledging $15 million over three years to support developers securing the Bitcoin network against quantum computing threats.
- Bitcoin's quantum security is a growing concern in the community, though the timeline remains debated; Bernstein reported the network has about three to five years to prepare for post-quantum upgrades.
- On Wednesday, Galaxy Digital pledged up to $5 million for quantum-resistant solutions, while Brink executive director Mike Schmidt will coordinate the consortium's daily operations as a volunteer.
- BlackRock's Robert Mitchnick said Bitcoin core developers do "incredibly important work," adding that the firm is pleased to make "significant additional funding available to support Bitcoin's long-term security needs."
- Experts remain divided on the timeline; Blockstream CEO Adam Back projects no meaningful quantum threat for 40 years, whereas Bernstein estimates a three- to five-year preparation window.
37 Articles
37 Articles
Bitcoin Security Strategy Shifts to Post-Quantum Cryptography Planning - BlockTelegraph
Coinbase is preparing its infrastructure and the broader cryptocurrency ecosystem for an eventual threat that may be decades away: quantum computing powerful enough to break the cryptography securing blockchain networks today. The company has outlined a multi-year strategy focused on three core areas: upgrading its own key management systems, ensuring compatibility with post-quantum standards across major blockchains, and coordinating industry-w…
BlackRock, Coinbase, Strategy Among Members of $15 Million Bitcoin Security Consortium
Nine institutional Bitcoin firms have formed the Bitcoin Security Consortium, pledging a combined $15 million over the next three years to fund the developers and researchers working to keep the network secure over the long term, including against the eventual threat of quantum computing. The group announced Thursday includes BlackRock, Coinbase, Strategy, Anchorage Digital, ARK Invest, Block, Blockstream, Fidelity Digital Assets and Galaxy, a l…
BlackRock (NYSE: BLK), Coinbase (NASDAQ: COIN) and Strategy (NASDAQ: MSTR) Back $15M Bitcoin Quantum Security Consortium
Nine of the largest institutional names in Bitcoin have launched the Bitcoin Security Consortium, committing $15 million over three years to fund long-term network security research. Founding members include Anchorage Digital, ARK Invest, BlackRock (NYSE: BLK), Block, Blockstream, Coinbase (NASDAQ: COIN), Fidelity Digital Assets, Galaxy, and Strategy (NASDAQ: MSTR), spanning custodians, exchanges, asset managers, and infrastructure providers. Th…
Michael Saylor rallies Wall Street to confront Bitcoin’s quantum threat
Michael Saylor’s Strategy has joined eight financial firms in pledging $15 million over three years to protect Bitcoin, starting with preparations for potential quantum-computing threats. Strategy announced the Bitcoin Security Consortium in a press release, naming Anchorage Digital, ARK Invest,…
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