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Bitcoin Core developer predicts timeline for network transition to post-quantum standards
Bitcoin Core developer and Casa platform founder Jameson Lopp (Jameson Lopp) suggested that the transition of the Bitcoin blockchain to post-quantum standards could take from five to ten years. According to the Bitcoin core developer, the threat of hacking by quantum computers for the first cryptocurrency is not on the horizon for the next two to four years. "We continue to monitor the development of quantum computers. They will not break Bitcoin in the near future. However, making thoughtful changes to the protocol and an unprecedented migration of funds could easily take from five to ten years. We must hope for the best but prepare for the worst," Lopp explained. The developer believes that due to its distributed consensus model, Bitcoin's code is more difficult to upgrade to post-quantum standards than centralized software. Non-profit organizations could support the development of solutions to ensure the quantum resilience of the first cryptocurrency's network to minimize hacking risks. If a breach occurs, the market will have to endure a significant price drop of BTC, and recovery could take several years, Lopp stated. Previously, the chairman of American company MicroStrategy, Michael Saylor (Michael Saylor), stated that quantum computers are not capable of destroying Bitcoin and, on the contrary, will strengthen the first cryptocurrency.