Crypto Industry Prepares for Quantum Computing Risks

The development of quantum computing has raised concerns about its potential impact on Bitcoin's security. However, experts in the cryptocurrency industry are urging researchers to study post-quantum cryptography (PQ) as a way to address these risks.

Alex Thorn, head of research at Galaxy Digital, recently discussed the topic with Bitcoin experts in Las Vegas. According to Thorn, institutions such as exchanges holding large amounts of funds can upgrade to quantum-resistant addresses if needed, leaving them largely insulated from practical threats.

The market impact of any stolen coins would be limited, as the Bitcoin market has routinely absorbed more than 1 million coins even outside bull markets, Thorn noted. Most experts agree that it is reasonable to study quantum-resistant technology for emergencies and keep it in reserve, even if the probability of quantum computing affecting Bitcoin is only 1%.