According to PANews, Colton Dillion, co-founder of Quip Network, stated that quantum computing technology could pose a threat to blockchain security. Companies like Google and Microsoft are accelerating research and development, and their computing power may be able to break encryption algorithms.
Dillion described a quantum computing-supported double-spending attack, where an attacker only needs about 26% of traditional 51% attack power to control the top 10,000 largest wallets and roll back the transaction chain. Bitcoin developers have proposed anti-quantum initiatives like QRAMP, but community governance is slow.
Traditional governance processes such as Bitcoin BIPs and Ethereum EIPs take years to reach consensus. Dillion pointed out that the speed of the quantum threat evolution outpaces the protocol's response capability. Quip Network has launched an anti-quantum vault, but the industry needs fundamental solutions.
