The post CoinShares: Quantum Computing Threat to Bitcoin Is ‘Manageable,’ Not Immediate appeared first on Coinpedia Fintech News
The progress of quantum computing has raised new questions about the long-term security of Bitcoin, but digital asset manager CoinShares says the threat remains distant and manageable. According to the firm, while quantum computers could one day challenge certain cryptographic systems used by Bitcoin, the technology required to do so is still many years away.
Experts say discussions about quantum risks are important for a financial system that now secures trillions of dollars in value. However, current evidence suggests the issue is more of a future engineering challenge than an immediate danger.
How Quantum Computers Could Affect Bitcoin
Bitcoin’s security relies mainly on two technologies: digital signatures that authorize transactions and cryptographic hashing that protects addresses and powers mining. Advanced quantum algorithms could,
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