Bloomberg: Quantum Computing Puts About 34% of Existing Bitcoin at Potential Cracking Risk

CoinFeed July 7 news, according to a Bloomberg report, quantum computing is seen as a new threat that could crack the cryptographic algorithms of crypto assets like Bitcoin. Quantum computers are expected to far surpass traditional computers in decrypting complex mathematical problems, theoretically being able to deduce private keys from public keys, thus stealing on-chain assets. Wallets with early address formats and reused addresses are at the highest risk. Galaxy Digital research estimates that about 34% of circulating Bitcoin, worth approximately $470 billion, could become targets of quantum attacks in the future. Coinbase has established an advisory committee, and Strategy, where Michael Saylor is based, has also initiated related risk projects.