The digital assets industry is starting to prepare for the arrival of quantum computing. This question, still theoretical today, nevertheless gives rise to important debates within the ecosystem. In this context, Coinbase calls on developers to accelerate the necessary technical preparations. According to its advisory board dedicated to quantum, the transition must begin without delay, in particular to protect major networks like Bitcoin from future risks.
In brief
- Coinbase is calling on blockchain developers to begin the transition to post-quantum security now.
- The advisory committee believes that the industry should not wait until a quantum threat becomes imminent.
- Around 7 million Bitcoins are potentially vulnerable in old or inactive addresses.
- Several options are being studied for non-migrated funds, from freezing assets to intermediate solutions.
- Major blockchain networks, including Bitcoin and Ethereum, are already beginning to prepare for the post-quantum era.
Crypto: Coinbase wants to launch the post-quantum transition now
Coinbase's Quantum Advisory Board believes that the crypto community must immediately begin the work necessary to migrate to quantum-resilient systems. Developers should not wait until consensus is reached on the treatment of vulnerable or abandoned funds.
According to the Coinbase report published Thursday, the committee specifies that no quantum computer is currently capable of breaking the cryptographic mechanisms used by blockchains:
No quantum computer can currently break blockchain cryptography, but the timelines remain uncertain; So the crypto community needs to start preparing now, rather than debating when exactly the threat might materialize.
Coinbase Quantum Advisory Board
However, deadlines remain difficult to predict. This is why experts consider that the Crypto ecosystem must anticipate rather than react urgently.
Created in January, this council brings together researchers from academia and industry. Its mission is to study the potential consequences of quantum computing on blockchain networks and to propose avenues for preparation.
One of the main concerns is assets whose owners will never migrate to addresses protected against future quantum capabilities. This question could become a major topic for the entire Crypto sector in the years to come.
Bitcoin faces the challenge of vulnerable addresses*
According to the report, a quantum computer powerful enough to compromise the digital signatures used by Bitcoin could appear as early as 2030. This prospect fuels reflections on the measures to be adopted before such a situation occurs.
The committee believes that “ several million bitcoins (around 7 million) would today be exposed in old addresses whose public keys are already visible “. These funds could become potential targets if quantum advances reach a sufficient level.
The researchers particularly mention assets associated with addresses that have been inactive for a long time, as well as certain funds attributed to Satoshi Nakamoto. Taking into account different address types, almost seven million bitcoins would currently be considered vulnerable in the long term.
Faced with this observation, the council presents several scenarios. The first consists of permanently freezing assets that have not migrated after a defined deadline. The second proposes not to impose anything on users, in order to respect the historical principles of Bitcoin and the property rights associated with the funds held.
Several solutions studied to protect blockchain networks
The report also presents intermediate approaches. Some proposals aim to limit the movement of vulnerable funds by block. Others suggest the use of alternative cryptographic mechanisms to gradually replace current signatures.
Furthermore, several players in the sector have already started to prepare for this transition. In January, the Ethereum Foundation established a team to coordinate its adaptation to post-quantum security. A few weeks later, a dedicated roadmap was also presented to support this development.
In April, Coinbase's advisory board highlighted that certain networks operating with proof of stake could be particularly exposed to future quantum attacks. The signatures used by validators are in fact based on cryptographic mechanisms which could be affected by these technological advances.
For its part, the Stellar Development Foundation recently unveiled a plan intended to support its users towards quantum-resistant cryptography. Meanwhile, Bitcoin developers continue discussions on how to migrate affected funds and how to deal with assets that would remain vulnerable.
For Coinbase's board, the priority remains clear: the crypto community must move forward now on technical aspects in the face of the quantum threat. According to its members, user assets remain secure today, but the industry should not view the lack of immediate threat as a reason to delay its preparation, particularly for Bitcoin. In the coming months, debates should therefore focus on migration mechanisms and the balance between security, asset ownership and network continuity.
Maximize your Tremplin.io experience with our 'Read to Earn' program! For every article you read, earn points and access exclusive rewards. Sign up now and start earning benefits.
