Nearly 10% of Bitcoin supply is ‘structurally unsafe’ from quantum breakthrough: Glassnode
Analytics provider Glassnode identified 10% of Bitcoin supply as structurally exposed to a quantum breakthrough, underscoring the need for a quantum-proof implementation such as BIP-360.
Analytics firm Glassnode has identified nearly 10% of Bitcoin's total supply as "structurally unsafe" in the event of a quantum computing breakthrough. The research highlights vulnerabilities in Bitcoin addresses that could be exploited by sufficiently advanced quantum computers, potentially compromising user funds stored in these exposed wallets.
The vulnerability stems from Bitcoin's cryptographic structure, particularly affecting older address formats and coins that have revealed their public keys through previous transactions. Quantum computers, once powerful enough, could theoretically break the elliptic curve cryptography that secures Bitcoin, allowing attackers to derive private keys from exposed public keys. This risk has prompted discussions about quantum-resistant upgrades to Bitcoin's protocol.
Glassnode's findings underscore the importance of implementing quantum-proof solutions like BIP-360, a proposed Bitcoin Improvement Protocol designed to enhance the network's resistance to quantum attacks. The cryptocurrency industry has been increasingly focused on quantum threats as tech giants and governments accelerate quantum computing development. While current quantum computers lack the power to break Bitcoin's encryption, experts warn that timeline could shorten dramatically.
The Bitcoin community now faces pressure to implement quantum-resistant measures before such technology becomes viable. Developers and stakeholders are closely monitoring quantum computing progress while working on preventive protocol upgrades to protect the network's long-term security.
Source: Cointelegraph
