Researcher: Bitcoin and Ethereum Vulnerable to Quantum Computers

A researcher has indicated that leading cryptocurrencies like Bitcoin and Ethereum remain at risk from advancements in quantum computing. Despite theoretical resistance, practical application poses a challenge. The increasing capabilities of quantum computers present a potential threat to the existing cryptographic protocols that maintain the security of these digital currencies. The danger lies in quantum computers’ ability to break the algorithms currently used to secure transactions and protect wallets, potentially leading to widespread theft and a breakdown in trust in decentralized systems. Researchers are exploring methods to develop quantum-resistant algorithms, but these solutions are still under development and require extensive integration into existing cryptocurrency infrastructure. The researcher emphasizes the importance of proactive preparation, calling for increased research and development to ensure that Bitcoin, Ethereum, and other cryptocurrencies remain secure in the face of quantum advancements.