DSA

Quantum Compu
2026-07-28 02:03:23

Quantum risk may hit crypto before banks, with Bitcoin governance seen as the weak link

Quantum computing is often framed as a broad threat to any system that relies on modern cryptography, from banks to government networks. Yet several voices cited in a recent report argue that crypto may be the first place where the danger becomes visible. The reason, they say, is not simply Bitcoin’s use of elliptic-curve cryptography, but the slower governance process required to coordinate a network-wide response. Quantum Xchange CEO Eddy Zervigon told CoinDesk that crypto is the “canary in the coal mine,” warning that the first real signs of a cryptographically relevant quantum machine may appear in decentralized crypto networks. He pointed to an industry timeline that places such machines around 2029, a view he said aligns with public comments from IBM CEO Arvind Krishna and with newer research from Google Quantum AI. That research suggested the hardware needed to break elliptic-curve cryptography protecting Bitcoin and Ethereum could be below 500,000 physical qubits, far less than older estimates. Other cited work says even under ideal conditions, migrating vulnerable Bitcoin UTXOs to post-quantum-safe addresses would take at least 76 days, while major upgrades require 90% miner consensus. Taken together, the concern is clear: post-quantum tools may arrive in time, but Bitcoin’s governance may struggle to move fast enough.

1970
Quantum risk may hit crypto before banks, with Bitcoin governance seen as the weak link