What is the quantum threat to Bitcoin?

#Write2Earn Quantum technology poses a threat to Bitcoin, as it could compromise your private wallet keys. This could put all the Bitcoins in it at risk.

Many believe that quantum computers could disrupt the Bitcoin network and pose a serious threat to its survival. Bitcoin developers are developing the system to address future risks, although the real threat is still far away. They are focusing on dormant Bitcoin wallets, as they are more vulnerable to quantum attacks.

Quantum technology could exploit weaknesses in the asymmetric cryptography that protects Bitcoin wallets. This includes the Elliptic Curve Digital Signature Algorithm (ECDSA), which Bitcoin uses for security.

Bitcoin wallets are secured by ECDSA to generate a pair of private and public keys. If the ECDSA algorithm is compromised, your Bitcoins would be at risk. Experts believe that practical quantum attacks could occur within five to twenty years, with the period from 2030 to 2048 being considered possible dates. Older wallets are most vulnerable to quantum attacks because they use P2PK or reused P2PKH addresses, where public keys are exposed. An estimated 5.9 million Bitcoins (about 25% of the supply) are held in P2PK or reused P2PKH addresses; therefore, these currencies are vulnerable to future quantum attacks.