Altcoins News
By Sydney TheCMO
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Industry Takes Notice. The crypto world isn't sleeping on this threat though.
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Regulators and Researchers Jump In. The European Central Bank announced March 18 that it's starting a study on quantum computing's…
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Galaxy Digital dropped some reassuring news Monday. Will Owens from the firm said quantum computing risks are pretty much overblown for most crypto wallets right now. The catch?
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Owens made it clear that quantum computers could theoretically crack cryptographic protections, but there's a big "but" here.
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The crypto world isn't sleeping on this threat though. Companies are already working on quantum-resistant methods just in case.
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Owens thinks the industry should prepare now rather than wait. "While the threat is not immediate, it's crucial to prepare for potential future risks.
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Not really clear yet when quantum computers will pose a serious threat.
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On March 15, Galaxy Digital released a detailed report about when quantum risks could become real problems.
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MIT held a conference March 19 focusing on quantum computing and cryptography. Experts from different sectors talked about the urgent need for quantum-safe encryption methods.
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The U.S. National Institute of Standards and Technology is pushing ahead with new cryptographic standards.
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IBM announced a partnership March 20 with leading blockchain firms to explore quantum-safe security protocols.
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The University of Cambridge launched a new research program focused on quantum cryptography the same day.
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The Bank of England acknowledged quantum computing risks in its latest quarterly report released March 19.
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And the Swiss Federal Institute of Technology announced March 18 that it successfully tested a new quantum-resistant algorithm on a blockchain network.
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Companies like Galaxy Digital continue monitoring developments closely. Regulatory discussions around quantum computing implications are gaining momentum too.
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