The Ethereum team is actively developing network defenses against quantum computers. These machines could potentially hack blockchains in the future.
Castle Island Ventures partner Nic Carter believes elliptic curve cryptography will become obsolete within 3 10 to ten years. He argues blockchains need to implement cryptographic flexibility now.
In his view, Ethereum is handling this challenge better than Bitcoin. He noted the altcoin’s team has already taken several steps:
- Created a dedicated security team
- Included post-quantum protection on its strategic roadmap
Developers also have responded to key community questions. Carter described their approach as proactive.
The analyst called Bitcoin‘s efforts the least successful. He accused its team of indecision and reluctance to accept proposals.
Quantum Threat Worries Extend Beyond Crypto
Google recently announced plans to fully transition to post-quantum algorithms by 2029. The company updated its threat model and focused on protecting authentication systems and digital signatures.
Google plans to implement the post-quantum algorithm ML-DSA in Android 17. The company already uses similar solutions in Chrome and cloud services. Google believes future quantum computers could threaten current encryption standards.
Who Should Worry?
The quantum threat primarily affects old P2PK addresses with exposed public keys. Expert opinions vary.
Some, including Michael Saylor and Adam Back, consider the risks exaggerated. Others see a serious problem emerging as early as 2028.
Estimates suggest the vulnerable bitcoin amounts remain relatively small. Carter emphasized that developer response speed could affect the ETH▲$1,679.80/BTC▲$62,953.00 ratio long-term. At the time of writing, Bitcoin traded at $69,450. Ethereum traded around $2,077.
Post-quantum preparation remains an industry discussion. Further steps will depend on progress from Bitcoin and Ethereum developers, along with actual advances in quantum computing.
Previously, we explained the key differences between Bitcoin and Ethereum. You can find all the information in our guide at this link.
