Bitcoin’s quantum risk is ‘long-dated and manageable,’ Benchmark pushes back on panic
Benchmark analysts assert that the quantum computing threat to Bitcoin is long-dated and manageable, not an immediate crisis.Summary
Analysts at Benchmark are countering growing alarm regarding quantum computing's threat to Bitcoin, arguing that while a theoretical vulnerability exists, practical attacks are likely decades away, allowing ample time for the network to adapt. The risk primarily affects bitcoin in addresses that have already exposed their public keys, estimated to be between 1 million and 7 million coins, not the entire supply. Views on the timeline vary widely, with some experts suggesting threats could emerge in two to five years, while others place the risk 20 to 40 years out. Benchmark believes Bitcoin can evolve to become quantum-resistant through gradual upgrades, similar to past adaptations like Taproot. This debate occurs as industry players like the Ethereum Foundation and Coinbase increase focus on post-quantum security measures, even as some investors, like Jefferies' Christopher Wood, have recently dropped Bitcoin allocations due to quantum fears.
(Source：The Block)