Nine crypto firms launch Quantum Alliance to address Bitcoin security risks.

iconKuCoinFlash
Share
AI summary iconSummary
Bitcoin news emerged as nine crypto firms launched the Quantum Alliance to address blockchain security risks. The group warns that 6.4 million BTC—30.2% of the total supply—have exposed public keys, including 1.1 million BTC potentially linked to Satoshi Nakamoto. While current quantum computers cannot steal these assets, the alliance is debating whether to freeze or migrate vulnerable funds. Postquant Labs’ CTO supports migration, while The Vault’s Bryn Bennett opposes freezing due to concerns over Bitcoin’s core principles. The alliance will soon release security testing and migration guidelines to prevent a potential security breach.

BlockBeats news: On October 16, the Quantum Alliance, composed of nine cryptocurrency companies, was officially launched. Publicly listed members include the security firm Hacken, Charles Hoskinson’s Midnight Foundation, the quantum-resistant Layer 1 blockchain Quantus, and Postquant Labs; the remaining members have not yet been individually disclosed. The alliance will establish common security standards for blockchains such as Bitcoin and Ethereum. It estimates that approximately 6.4 million bitcoins (30.2% of the total supply) have exposed public keys, including around 1.1 million bitcoins owned by Satoshi Nakamoto, though current quantum computers are not yet capable of stealing these assets.


There is significant disagreement within the Quantum Alliance regarding the threat timeline and response strategies. Bryn Bennett, Chief Revenue Officer at The Vault, said no one knows the exact date, but estimates continue to move forward; Richard Carback, Chief Technology Officer at Postquant Labs, believes 2028 is the realistic timeline.


Whether to freeze vulnerable assets has become the core point of contention. Carback favors transferring rather than freezing, while Bennett points out that freezing is a governance decision of the Bitcoin network, and any freeze sets a precedent of exchanging property rights and neutrality for quantum risk. Previously, CZ suggested freezing Satoshi’s bitcoins, and developer Jameson Lopp also proposed restricting vulnerable tokens, but critics argue this violates Bitcoin’s promise of non-confiscatability. The alliance plans to release shared security tests and migration guidelines in the future.

Disclaimer: The information on this page may have been obtained from third parties and does not necessarily reflect the views or opinions of KuCoin. This content is provided for general informational purposes only, without any representation or warranty of any kind, nor shall it be construed as financial or investment advice. KuCoin shall not be liable for any errors or omissions, or for any outcomes resulting from the use of this information. Investments in digital assets can be risky. Please carefully evaluate the risks of a product and your risk tolerance based on your own financial circumstances. For more information, please refer to our Terms of Use and Risk Disclosure.