Crypto industry accelerates shift to quantum-resistant tech, Reuters reports

The cryptocurrency industry is preparing to transition its blockchain networks to post-quantum cryptography amid forecasts that quantum computers could advance faster than expected, Reuters reported. Google predicted in March that quantum computers could potentially break current encryption standards by 2029. Citigroup has also analyzed that the development of quantum computing and AI could make cryptocurrencies vulnerable to hacking sooner than anticipated. Reuters noted that while the industry is concerned about the burdens of an early transition, organizations like the Ethereum Foundation and the Algorand Foundation have already announced roadmaps to support post-quantum systems.