Crypto industry rushes to defend against quantum computing threat
Source: Financial Times
Bitcoin and other blockchain systems rely on cryptographic algorithms that quantum computers could theoretically break in years or decades, forcing migration to quantum-resistant code before that window closes. Major crypto firms are already allocating resources to implement post-quantum cryptography standards, indicating concern that the compromise timeline is shorter than the 10-20 year consensus estimates. The move exposes a structural vulnerability in the industry's foundational security model and creates a dependency on cryptographic standards developed by institutions like NIST that the crypto world has historically positioned itself against.