Quantum computing may pose a serious threat to Bitcoin in the coming years. David Carvalho, CEO of Naoris Protocol, shares his insights regarding the potential for quantum hackers.
Potential Threats to Bitcoin
David Carvalho believes that Bitcoin's reliance on elliptic-curve cryptography may become its Achilles' heel. He warns that a class of powerful quantum algorithms, particularly Shor's algorithm, could potentially break Bitcoin's cryptographic defenses in seconds once the hardware catches up. According to him, this technological leap could arrive in as little as three to five years.
Discussion of Security Measures
Carvalho points out that nearly a third of Bitcoin's circulating supply could be endangered, as those coins are stored in wallets with exposed public keys. He emphasizes the need for preparation and urges investors to migrate their assets to quantum-secure wallets and update their security systems.
Diverse Opinions Among Experts
Not all experts share Carvalho’s sense of urgency. Blockstream CEO and Bitcoin pioneer Adam Back suggests that the threat may be 20 years away, although he acknowledges that legacy wallets may eventually need to transition.
The situation surrounding Bitcoin's security becomes increasingly relevant in light of rapidly developing quantum technologies. Investors and developers must be prepared for potential changes to protect their assets.
