Michael Saylor’s Strategy launched the Bitcoin Security Consortium. The consortium is a collection of Bitcoin and financial companies that support the security of Bitcoin over the long term.
In a press release on Thursday, Strategy revealed that the consortium had pledged $15 million to help developers secure the Bitcoin network from the danger of quantum computing. release.
Anchorage Digital and ARK Invest are also founding members. Mike Schmidt will coordinate the consortium’s daily work. He is a volunteer and executive director at Brink, an organization that helps Bitcoin developers.
On Wednesday, Galaxy Digital pledged The Bitcoin Foundation has awarded up to five million dollars in grants to developers researching quantum-resistant solutions for migration. It also elected an advisory council consisting of experts who are knowledgeable about quantum.
Bitcoin’s security in quantum computing is becoming a major concern, but the timeframe for a quantum breakthrough continues to be hotly debated. Blockstream CEO Adam Back claimed that Bitcoin will not face any threats in 2025. meaningful quantum threat There are at least another 20 to 40 decades.
A report by investment manager Bernstein in April stated that Bitcoin has about Three to five years is required to prepare for the post-quantum upgrade.
Robert Mitchnick is BlackRock’s Global Head of Digital Assets. He said that Bitcoin Core developers are not BlackRock. “incredibly important work” Asset management was happy to provide this information “significant additional funding available to support Bitcoin’s long-term security needs.”
Magazine: Bitcoin’s quantum upgrade path: What BIP-360 changes and what it does not
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Source: cointelegraph.com
