Key highlights:
- Researchers have slashed the resource estimate for a quantum attack operation by 86%, producing a benchmark below half of Google’s previous level
- While the research does not mean Bitcoin and Ethereum can be attacked, improving quantum algorithms can shorten the time available for both networks to upgrade their cryptography
- Bitcoin and Ethereum developers are exploring quantum-resistant signatures, bracing for Q-Day
The estimated computing cost of a future quantum attack on under BIP-361 excluded Satoshi Nakamoto’s 1.1 million BTC stash. Meanwhile, Galaxy has launched a $5 million Quantum Readiness Initiative to fund Bitcoin researchers working on quantum-proofing the network.
Ethereum, on the other hand, is inching toward a raft of major upgrades designed to quantum-proof the network before the end of the decade. The Ethereum Foundation has unveiled plans to make the entire L1 quantum-resistant across execution, consensus, and data by December 2029.
Other blockchains are toeing the same path. BNB Chain and Avalanche have released roadmaps to protect their networks from quantum computing threats while nursing plans for an ecosystem-wide solution.
Source:: Bitcoin and Ethereum Quantum Attack Costs Fall Below Google Benchmark