- FreedX’s Chief Business Officer, Anton Golub, lays out several reasons why the quantum computing FUD focused on Bitcoin and the broader crypto industry is exaggerated.
- He says quantum computers are still hundreds of millions of qubits short of the 317 million qubits required to crack the BTC ecosystem.
- The chain’s PoW model also makes it quantum-resistant from the get-go.
Quantum computers are the next big thing in technology. They undoubtedly carry disruptive capabilities that will reshape many industries.
With that, the quantum computing FUD (Fear, Doubt, Uncertainty) targeting Bitcoin (BTC) and the broader crypto market continues to gain traction. The speculations undermine expert consensus, stating that while the public should not entirely ignore the theoretical threat of a “Q-Day,” the technology’s practical danger to chains with multi-layered security and checks and balances, such as Bitcoin and Ethereum (ETH), remains a distant reality at this point.
Meanwhile, some argue that even if a quantum computer does come close to breaking Bitcoin’s infrastructure, the vast computational resources it would need to mount an attack on the chain would still outweigh the potential rewards. The scenario renders such efforts impractical.
Recently, Anton Golub, Chief Business Officer of FreedX, provided additional reasons why most quantum computing narratives against Bitcoin are becoming increasingly ridiculous. He believes the technology is virtually many years away from untangling the prime crypto asset’s infrastructure.
Existing Quantum Computers Vs. Bitcoin
First off, Golub pointed out that quantum computers need 317 million physical qubits to crack Bitcoin. The figures are hundreds of millions away from their existing 100 physical-qubit scale.
Adding complexity to that factor is Bitcoin’s proof-of-work (PoW) model. The senior executive highlighted that the framework makes the chain resistant to significant quantum speedups, echoing the previous explanation of Dr. Roy Murphy, a computer scientist and Bitcoin script engineer.
Moreover, Golub, again mirroring Murphy’s analysis, claimed Bitcoin can migrate before the quantum threat turns urgent. The chain can simply add quantum-resistant signature via consensus upgrades. It could nullify potential key theft by moving to quantum-secure signatures. Add to that Murphy’s recommendation of merely doubling the network’s hashrate to make any attack unfeasible.
Finally, the industry expert noted that the crypto industry is already “post-quantum” ready long before quantum computing scales to 100 million qubits. Like what Strategy Executive Chairman Michael Saylor told the crypto community, Bitcoin’s platform will have adjusted its security measures and developed ways to quantum-proof its infrastructure before quantum computers could even catch up.
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