Based on Bijié Wǎng, Chamath Palihapitiya, a venture capitalist and former Facebook executive, has reignited the debate over Bitcoin's vulnerability to quantum computing, predicting that the technology could break Bitcoin's encryption within five years. His warning contrasts with Adam Back, CEO of Blockstream and a Bitcoin pioneer, who argues the threat is at least decades away and can be addressed with existing post-quantum encryption standards. Palihapitiya bases his assessment on rapid advancements in quantum hardware, particularly Google's Willow quantum chip, which he claims could use Grover's algorithm to crack Bitcoin's SHA-256 encryption. Meanwhile, Back emphasizes the gap between theoretical models and practical quantum capabilities, noting that NIST's recently standardized SLH-DSA signature scheme offers a ready solution. He also highlights Bitcoin's decentralized governance model, which allows for a phased migration to quantum-safe protocols.
Chamath Palihapitiya Warns Bitcoin Could Face Quantum Threat in 5 Years, Adam Back Disagrees
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