BlockBeats News, December 20 — Nic Carter, the father of smart contracts and co-founder of Castle Island Ventures, published a lengthy article stating that research by renowned quantum theorist and scholar Scott Aaronson shows that quantum computing is only an “extremely difficult” engineering challenge to crack Bitcoin, rather than requiring new fundamental physics discoveries. Nic Carter pointed out that, in theory, Bitcoin can undergo soft forks and adopt “post-quantum” (PQ) signature schemes. Currently, there are indeed some quantum-resistant cryptographic signature schemes available. However, the main issue lies in how to determine the specific post-quantum scheme, organize the soft fork, and painstakingly migrate tens of millions of addresses with balances. Therefore, the measures needed to prevent Bitcoin from being cracked by quantum computing may take nearly ten years. Additionally, since many vulnerable Bitcoin are stored in abandoned addresses, and their owners cannot be forced to transfer their Bitcoin, even if Bitcoin upgrades to post-quantum signatures, it still faces the risk of 1.7 million Bitcoins being suddenly stolen by quantum attackers. Bitcoin not only needs to upgrade in an orderly and timely manner but also requires collective agreement among Bitcoin holders to seize these 1.7 million Bitcoins to eliminate this risk — an unprecedented move in Bitcoin’s history. Accordingly, Nic Carter urges and calls on the Bitcoin community and developers to take mitigation measures as soon as possible, rather than viewing the threat of quantum computing with indifference or excessive optimism.
Disclaimer: The information on this page may come from third parties and does not represent the views or opinions of Gate. The content displayed on this page is for reference only and does not constitute any financial, investment, or legal advice. Gate does not guarantee the accuracy or completeness of the information and shall not be liable for any losses arising from the use of this information. Virtual asset investments carry high risks and are subject to significant price volatility. You may lose all of your invested principal. Please fully understand the relevant risks and make prudent decisions based on your own financial situation and risk tolerance. For details, please refer to
Disclaimer.
Related Articles
Bitcoin meltdown to $10,000 remains likely unless prices reclaim $75,000, analyst says
A familiar voice is back with a familiar, and controversial, call on bitcoin BTC$66,860.50.
Mike McGlone, senior commodity strategist for Bloomberg Intelligence, is reiterating that bitcoin could crash to $10,000.
But this time, he's framed it with a very clear line in the sand: $75,000.
If bitco
CoinDesk40m ago
Capital Flows From Gold Back to Bitcoin As Digital Haven Matures
Bitcoin has consistently been considered as a centerpiece for crypto-economic theory and its representation as “Digital Gold”. Recent data from Fidelity clearly demonstrates that Bitcoin’s role as a measurable indicator of market performance is firmly established as a reality, not just a
BlockChainReporter1h ago
Bitcoin's $1.3 trillion security race: Key initiatives aimed at quantum-proofing the world's largest blockchain
Quantum computers capable of breaking the Bitcoin blockchain do not exist today. Developers, however, are already considering a wave of upgrades to build defenses against the potential threat, and rightfully so, as the threat is no longer hypothetical.
This week, Google published research
CoinDesk1h ago
