Michael Saylor, the founder of Strategy, wants to defend us against a quantum computer
The blockchain community has been warning for some time that quantum computers will threaten cryptocurrencies. However, opinions on this subject are divided: many experts believe that this is a threat, but it will only become real in many years.
However, Saylor decided not to wait on his hands: during the conference call, he presented a slide titled “Quants and our commitment to Bitcoin security.” For now, he thinks that fears about quantum are “FUD”, but it is worth thinking a few steps ahead. That’s why Strategy will lead global efforts to combat quantum threats.
Today, the Bitcoin community is already engaged in working on protocols resistant to quantum attacks.
Is this a real threat?
Although quantum computers are still in their early stages of development, scientists warn that such advanced machines could eventually threaten encryption systems used in finance, communications and blockchain networks. So not only Bitcoin is at risk!
Saylor believes that the BTC network has adapted to previous technical and regulatory challenges.
Finally, it is worth explaining that quantum computers theoretically could threaten Bitcoin because Shor’s algorithm can break cryptography based on public keys. Except that current quantum computers are many orders of magnitude too weak to do this in practice. A real threat would require stable machines with millions of qubits – today we are talking about hundreds or thousands, and very unstable ones at that. Bitcoin may, in fact, be updated with quantum-resistant cryptography before such strong machines are created. Quants are therefore a long-term technological challenge rather than a current “killer”.
Will Bitcoin Plunge Strategy?
