Solana Co-Founder Warns Bitcoin Developers About Quantum Computing Threat
At the All-In Summit, Anatoly Yakovenko, co-founder of Solana, raised concerns about Bitcoin’s future security. He believes there’s a 50/50 chance quantum computers could compromise Bitcoin’s cryptographic defenses within five years.
Yakovenko highlighted the rapid advancement in AI as evidence that theoretical concepts can quickly become reality.Quantum computers using algorithms like Shor’s could possibly break the Elliptic Curve Digital Signature Algorithm, which protects Bitcoin wallets.
This scenario poses a important risk too the network, allowing unauthorized access and transaction forgeries. To prevent this,Yakovenko urged migrating to a quantum-resistant signature system before quantum tech becomes a threat.
Though,some experts disagree. Blockstream’s Adam Back argued that the technology is still distant and transitioning Bitcoin to quantum-resistant cryptography is straightforward. Other contributors like Peter Todd dismiss current quantum computers, calling demos of toy problems irrelevant.
Bitcoin’s design further complicates a quantum upgrade.It would need a hard fork, a complex and sensitive update requiring broad network agreement. Despite these challenges, Yakovenko insists we must act soon due to fast-evolving technologies.
The primary vulnerabilities lie in exposed public keys and transaction windows. Many Bitcoins sit in old addresses with vulnerable keys, making them prime targets for quantum attacks. Users must be cautious when starting transactions, as revealing public keys briefly exposes them to risks.
