Bitcoin is facing an increasing threat from quantum computing, which may soon be able to decrypt its digital wallets, jeopardizing the network's security. Cryptography experts are calling for the adoption of quantum-resistant techniques, but implementing them requires extensive coordination and complex updates, raising concerns about divisions within the Bitcoin community.
There is real concern about the ability of quantum computers to break the encryption that protects Bitcoin wallets, which could affect millions of coins and expose the cryptocurrency market to an unprecedented shock. Among the prominent attendees was Jameson Lopp, the technical officer of "Casa," a company specialized in providing cryptocurrency custody solutions, who confirmed that time is clearly running out for the digital community to prepare for this danger.
The danger warned about will lead to a shock for those holding their coins in centralized wallets, while institutions that hold the coins they purchased by storing in cold or decentralized wallets will survive against the new quantum encryption.
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