Quantum Computing Poses Long-Term Challenge to Bitcoin Security

Quantum computing presents a real threat to Bitcoin, but it is not an immediate crisis, according to Galaxy Digital's Head of Research, Alex Thorn. According to ChainCatcher, Thorn emphasized that investors should not misinterpret this long-term technological challenge as a reason to avoid Bitcoin immediately. Thorn highlighted that the current risk is limited to specific addresses with exposed public keys, such as reused addresses, some custodial addresses, and assets in older address formats. Analysis by security firm Project Eleven indicates that approximately 7 million BTC are in this 'long-term exposure' category. However, they remain secure under the current quantum computing capabilities. To address these concerns, developers have proposed several solutions. These include introducing new address types based on post-quantum cryptography, implementing a 'sandglass' mechanism to restrict spending from permanently exposed public key addresses, and a phased upgrade path to fundamentally reduce the broadcasting of transaction public keys.