As quantum computing becomes increasingly integrated into our lives, it is said to pose a significant threat to Bitcoin (BTC).
Quantum threats have been much talked about lately, with analysts saying that a significant portion of Bitcoin’s supply has become structurally vulnerable because quantum technology is advancing faster than expected.
David Duong, head of investment research at Coinbase, said about a third of Bitcoin’s supply is vulnerable to quantum computing attacks.
“Approximately one-third of the Bitcoin supply appears to be vulnerable to long-term quantum computing attacks due to publicly available cryptographic information.”
At this point, Bitcoin’s long-term security may be entering a new phase.
Duong also warned that while the threat of quantum computing is still in its infancy, it is approaching faster than the market expects.
At this point, Duong also added that wallets that keep records of past transactions are especially vulnerable because their public keys are exposed.
“The cryptographic structure of wallets with public keys exposed is relatively vulnerable to brute force attacks.”
This makes up a significant portion of Bitcoin’s total supply.
Finally, Duong added that quantum threats have now evolved from simple theoretical risks to structural risks.
*This is not investment advice.
