Changpeng Chao, known as CZ and co-founder of Binance, explained in an interview published on April 7 that “quantum computing has the potential to break existing cryptographic mechanisms,” but denied that this is an irresolvable risk for current cryptography and Bitcoin.
Quantum-resistant cryptographic algorithms already exist that quantum computers have no benefit to cracking. Therefore, the (Bitcoin) protocol just needs to be updated to use these cryptographic mechanisms.
Qiao Changpeng, co-founder of Binance.
Although CZ did not specify what algorithms or solutions could be adopted, he believes tools to secure Bitcoin already exist and the necessary step is to implement them rather than develop them from scratch.
CZ also added about Bitcoin. you might need a fork (hard fork) To move to that type of encryptionHowever, no technical details or time estimates were provided.
However, this idea contradicts the proposal of StarkWare researchers, who recently published a scheme that could protect Bitcoin transactions from potential quantum attacks, using only current protocol rules and avoiding the implementation of forks, as reported by CriptoNoticias.
Discussion in two defined areas
This cautious stance puts CZ on the side of those who believe the ecosystem has enough time to prepare in an orderly manner. Instead of rushing to respond.
In this context, CZ’s perspective is consistent with that of other players in the ecosystem who view quantum risk from a 10-20 year distance, including Blockstream co-founder Adam Back, JAN3 CEO Samson Mow, and manager ARK Invest.
Finally, at the other extreme, pointing to the greater urgency of securing current systems, Google has announced that it will transition its infrastructure to post-quantum cryptography with a goal of 2029. Similarly, Cloudflare and Grayscale they aligned themselves with that short horizonand ecosystem analysts like Nick Carter estimate that “Q-Day” could arrive between 2030 and 2035.
Ultimately, the resilience of the ecosystem will depend not only on the speed of advances in quantum computing, but also on the community’s ability to orchestrate robust technology upgrades.
(Tag translation) Binance
