“Securing a whole will take top long, so would not go piece by the piece with the largest WHALES PUTTING THEIR STASH IN QUANTUM VAULTS FIRST.”, – WRITE: www.coindesk.com
WHILE THE TECHNOLOGY, WHICH Uses The Quantum States of Subatomy Particles to Perform Calculations Institute of Transtors and Binary Code with Research and Development. The Goal Is A Massive Step-Up in Speed that Makes Tough Calculations Like Cracking Encryption, Such As that used to Protect Blockchains, Faster and Simpler.
And WHEN QUANTUM COMPUTING BECOMES AVAILABLE, Any Attacker is Unlikely to Annune Their Presence ImmediaTelly.
“The Threat Won’t Start with Satoshi’s Keys Getting Stolen,“ Dillion Said in An Interview. “The Real Quantum Attack Will Look Subtle, Quiet, and Gradual, Like Whales Casaral Moving Funds. By The Time Everyone Realizes What’s HapPening, It’ll Be Too Late.”
Dillion’s Doomsday Scenario Involves a quantum-commer. In Theory, Quantum Computing Could Reduce the Mining Power Required for a Traditional 51% Attack Down to About 26%, Dillion Said.
“SO NOW YOU’RE COMPromised The 10,000 Largest Wallets. You Rewind the Chain, Liquidate Those 10,000 Largest Wallets, Then Double Spend All The Transactions, and Now You’ve Really Got A Nuclear Bomb.
The Industry, of Course, Is Working to Find A Solution.
Bitcoin Developer Agustin Cruz, for Instance, Propsed Qramp, A Bitcoin Improvement Proposal (BIP) that Mandates a Hard-for Migration to Quantum-Secure. Quantum Startup Btq have Proped Replacing the Proof-of-Work Consensus System that Underpins the Original Blockchain Entirely with Quantum-Native Consusus.
The Problem is that Proposals Must Gain Community Approval. Blockchain Governance, Such As Bitcoin Improvement Proposals (BIPS) and Their Ethereum Equivalents, Ethereum Improvement Proposals (EIPS) CAUTIUS PROCESS.
For Example, The Bitcoin Community’s Recent on the Op_return Function Was Years in the Making, with Months of Developer Debates Abouts About What’s Consider. Ethereum’s Upgrades, Like The Merge, ALSO FACED LENGHY DEBATES AND DELEYS.
Dillion Argues that the governance Process Leaves Crypto Dangerously Exposed Because Quantum Computing Threats Will Evolve Much Faster than the Protocols Can Respond.
“Everyone’s Trying to this from the Top Down By Starting with A Bip or Eip and Getting Everyone’s Buy-in Together. But WE THINK THAT THAT IS A VERY DIFICULT, HEAVY LIFT,” HE.
Quip Network’s Quantum-Proof Vaults Aim to Circumvent The Political Inertia by ALLOWING IMMEDIATE USER-LEVEL ADOPTION WITHING REQUARING PROTOCOL UPGRADES. The Vaults Leverage Hybrid Cryptography, Blender Classical Cryptograph Standards with Quantum-Resistant Techniques to Provide Blockchain-Agnostic Security.
Effectvely, they asleves, Holders of Large Amountains of a Cryptocurrency, to Secure their Stashes While Waiting for the Machinations of Blockchain Governance to Tog. Crypto Communities Can’t Afford Leisurely Debates, He Argues.
“The BIP and EIP Processes Are Great for Governance, But Terrible for Rapid Threat Respons,“ Said Dillion. “WHEN QUANTUM HITS, ATTACKERS WON’T WAIT for Community Consensus.”
Colton Dillon is Speaking at the IEEE Canada Blockchain Forum, Part of Consensus 2025 in Toronto. The IEEE IS A KNOWLEDGE Partner of Consensus.
Read More: Quantum Computing Group Offers 1 Btc to Whover Breaks Bitcoin’s Cryptographic Key
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