Quantum computing could break bitcoin and ethereum encryption, study warns
Quantum computing is quickly advancing, and that's making the crypto world a bit nervous.
These super-powerful machines might soon be able to crack the encryption that keeps cryptocurrencies like bitcoin and ethereum safe, putting digital wallets and transactions at risk.
One study even suggests up to half of all bitcoin in circulation could be vulnerable if quantum attacks become reality.
Crypto firms build quantum-resistant upgrades
Crypto companies aren't just watching from the sidelines: they're already working on upgrades to make blockchains quantum-resistant.
It's a tricky process, though: new security measures need more storage and bandwidth, and getting everyone on board takes time.
Some networks, like Algorand, have published a post-quantum roadmap and plan to start supporting post-quantum accounts later this year, while Ethereum aims for full protection by 2029.
Still, experts say the race is on: quantum tech could move faster than expected, so action can't wait.