Bitcoin Quantum Threat Grows as Exposed Public Keys Increase

As the blockchain industry prepares for the potential impact of quantum computing, researchers have sounded the alarm on the growing threat to Bitcoin's security.

About 30% of Bitcoin's supply is currently exposed through public keys, making it vulnerable to quantum attacks. According to Hunter Beast, co-author of BIP 360, this exposure would allow a hacker to reverse-engineer private keys using Shor's algorithm and gain control over the corresponding coins.

The risk is not solely technical, with some older coins potentially unable to migrate to quantum-safe addresses. Isabel Foxen Duke, co-author of BIP 360, warned that if a quantum computer arises before consensus on migration, it could be catastrophic for the Bitcoin network, allowing a hacker to access and spend millions of dollars' worth of coins in a matter of hours.