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- Zhao says quantum risk is real, but crypto can adapt through planned upgrades.
- Network consensus may slow upgrades and cause splits during crypto transitions.
- Google research lowers quantum attack barrier, raising urgency for crypto security.
Concerns about quantum computing and crypto security are rising across the industry. Binance co-founder Changpeng Zhao said the threat is real but manageable. He stressed that crypto systems can adapt with planned upgrades.
Zhao shared his views in a post on X. He said current systems can shift to quantum-resistant cryptography. He noted the challenge lies in execution, not in technical possibility. He also stated that stronger computing power often improves encryption.
He argued that encryption is easier to strengthen than to break. He added that crypto will continue to exist after quantum advances. His comments aimed to calm fears about long-term viability.
Crypto Upgrades Face Consensus Delays
Despite this confidence, upgrades will not be simple. Blockchain systems rely on consensus among users and developers. This makes large changes slow and often disputed. Different groups may support different technical solutions.
Zhao warned that such disagreements could split networks. This may result in separate versions of the same blockchain. These splits can create confusion and weaken stability.
The transition phase also carries risks. New code may contain flaws in early stages. These issues can expose systems to attacks if not tested well. Some projects may also fail to upgrade on time.
Inactive or poorly maintained networks face higher risk. They may remain on older cryptographic systems. This could leave them open to quantum-based attacks. The gap between updated and outdated systems may widen.
Users who control their own funds may need to act. They could be required to move assets to updated wallets. This process may not be automatic. It will depend on user awareness and timing.
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Another concern involves dormant Bitcoin wallets. Some are linked to Satoshi Nakamoto. These wallets hold large amounts of Bitcoin. If older encryption breaks, they may become targets.
Quantum Research Lowers Barrier to Crypto Attacks
Zhao indicated that such a community might require protective measures. This could involve limitations or protective mechanisms for such addresses. However, defining such wallets is a complex matter.
This discussion is a result of recent research conducted by Google Quantum AI. The research indicates that fewer requirements will be necessary to overcome crypto encryption. This figure is an estimate of fewer than 500,000 qubits.
The figure was initially higher. This recent figure has reduced the barrier to overcoming encryption. This figure also increases the need to prepare on various networks.
The researchers also indicated a possible attack vector. This vector was demonstrated through a Bitcoin transaction. The transaction exposes a public key for a brief time. A quick quantum computer could utilize this to derive a private key and steal the money.
Zhao said that quantum computing is not a threat to current systems. Zhao believes that stronger systems will result in stronger security. This system will evolve. This model will persist in a quantum world.
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