Analysis: Crypto industry must accelerate quantum-proof transition

The cryptocurrency industry must accelerate its transition to post-quantum cryptography amid a rapidly advancing technological landscape, CoinDesk reported. The warning comes as the U.S. government commits over $2 billion to support nine quantum computing firms. While the development race for quantum computers is speeding up, preparations by major blockchains like Bitcoin (BTC) and Ethereum (ETH) to counter quantum attacks remain in their early stages, the outlet noted. Specifically, BTC addresses with exposed public keys and long-dormant funds could be vulnerable to future threats. CoinDesk explained that wallets, custodians, and exchanges must collaborate on transitioning to new cryptographic systems. The report also highlighted that the U.S. National Institute of Standards and Technology (NIST) is pushing to phase out quantum-vulnerable cryptographic technologies starting in 2030, urging the digital asset industry to develop a corresponding transition plan.