Billionaire Chamath Palihapitiya: Quantum computing will pose a risk to v1 encryption methods, but there is no worry in the near term
Billionaire Chamath Palihapitiya tweeted, "Quantum computing poses a risk to v1 encryption methods. The timeframe is very unclear and not in the near future. But if I owned a large amount of BTC, my risk posture would be to assume it could happen and plan accordingly. Currently, any potential risks to Bitcoin can be resolved through forks that implement quantum-resistant encryption for new transactions. However, this cannot retroactively protect exposed unmigrated public keys. Funds in old p2pk addresses (dead accounts?) with exposed public keys will still be vulnerable to quantum computing attacks against ECDSA and become targets."
In previous news, Google announced progress in quantum computing: completing calculations that would take supercomputers 10^25 years in less than five minutes. Ava Labs founder suggested freezing Satoshi Nakamoto's one million Bitcoins due to the risks posed by the development of quantum computing.
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