As the world of cryptocurrency continues to evolve, experts are sounding the alarm over a looming threat: quantum computing. The study highlights an alarming trend: with predictions that up to 25% of Bitcoin could be at risk by 2026, the urgency for quantum-resistant solutions has never been greater.
Quantum Computing Threats to Bitcoin
Prominent figures in the field, including Charles Edwards and Olivier Roussy Newton, have highlighted the potential vulnerabilities that quantum computing poses to Bitcoin. They warn that sophisticated attacks could exploit these weaknesses, leading to significant financial repercussions for the $24 trillion Bitcoin economy.
Call for Quantum-Safe Protocols
The call for immediate action is echoed by Olivier Roussy Newton, CEO of BTQ Technologies, who is spearheading initiatives to create quantum-safe protocols. These efforts are grounded in post-quantum cryptography, which has been standardized by the National Institute of Standards and Technology (NIST).
Need for Enhanced Security Measures
Experts are adamant that without proactive measures, the Bitcoin market could face a crisis reminiscent of previous breaches in the cryptocurrency space. The potential destabilization of the entire market underscores the critical need for enhanced security protocols to protect against this emerging threat.
In a recent update, the cryptocurrency market is facing notable turbulence, with Shiba Inu and Mog Coin experiencing significant price drops. For more details on this situation, see the full article here.
