Coinbase Urges Immediate Start to Bitcoin Quantum Computing Protections
(3 hours ago) · 1 source · Summarized by CryptoBipto
Coinbase, which reportedly holds approximately 5% of all bitcoin in existence, is calling for the Bitcoin community to begin implementing quantum-resistant cryptographic measures now rather than waiting. The exchange is pushing for proactive steps to protect Bitcoin against future threats from quantum computing.
WHY IT MATTERS
Think of Bitcoin's security like a very complex lock on a safe. Current computers would take billions of years to pick that lock, but quantum computers — a new type of computer still being developed — could theoretically pick it much faster. Coinbase, a major company that stores bitcoin for millions of customers, is saying the Bitcoin community should start changing the locks now before quantum computers become powerful enough to be a real threat. This matters because changing Bitcoin's underlying security requires agreement from a large, decentralized community of developers and users, and such changes can take years to design, test, and deploy. Starting early could help avoid a scramble later if quantum computing advances faster than expected.
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- coindesk.com
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