10% or less of Bitcoin’s total supply is deemed to be a cryptocurrency “structurally unsafe” Glassnode’s data analytics platform claims that quantum computing has made a major breakthrough. Their output type is designed to reveal the public keys, regardless of management methods.
Glassnode, in a post on Wednesday, said that this group totals about 1.92 Million Bitcoins. It includes BTC from the early Satoshi Pay-to Public Key (P2PK), multi-signature structures, such as the Pay-toMultisig (P2MS), modern Pay to Taproot (P2TR), or outputs which, by design, reveal the public-key-equivalent. post.
Satoshi Nakamoto, the creator of Bitcoins, has about 1.1 Million coins. This represents 5.5% of vulnerable supply. Following this are another 620,000 Satoshi era coins which represent 3.1% and approximately 200,000 coins (or 1% supply) in Taproot address.
How to choose PQC [post-quantum cryptography] It is important to separate the issue of how you will handle coins with quantum vulnerabilities from your decision on whether or not to deploy them. But the two are frequently conflated. The controversy surrounding the second often overshadows discussions about the first – ARK Invest
These findings highlight the necessity of implementing a quantum-proof pathway for Bitcoin. For example, the proposed Pay-to-Merkle-Root output type (P2MR), which aims to eliminate Taproot’s key-path spend that is quantum-vulnerable, but does not add digital signatures post-quantum.
A significant portion of 9.6% remains structurally vulnerable. “could be reduced if wallet infrastructure, address standards, and user behavior evolve,” Glassnode added
According to a white paper published in March, the supply of Bitcoins would be susceptible to quantum theft only if quantum computer can crack its elliptic-curve cryptography. This would require approximately 2,330 logical quadbits, and millions or billions of gates. paper Ark Invest, a US-based investment firm.
Source: Glassnode
Nearly 70% Bitcoin is protected from the threat of quantum computing
Glassnode calculates that approximately 13,99 million Bitcoins, or 69.8%, of the entire supply remain unaffected by a threat from quantum computing. This is in accordance with Ark Invest’s figuresCointelegraph’s March report stated that the supply of 65% was secure.
The analytics provider also notes that approximately 4.12 billion BTC or 20,6% of total supply are still in circulation. “operationally unsafe,” This means that the coins were exposed as a result of an address or key management problem.
Source: Glassnode
The data at entity-level shows the exposure of large corporate holdings. The data shows that Franklin Templeton and WisdomTree, as well as Robinhood and Revolut, each hold 100% of BTC, while Grayscale holds 52%, and Fidelity has just 2%.
Related: Bernstein says Bitcoin market already priced in quantum risk
If you look at the tokens exposed by cryptocurrency exchanges, about 5% BTC is held on Coinbase, while Binance BTC accounts for 85%, and Bitfinex BTC comprises about 100%.
Glassnode wrote that to minimize exposure exchanges and custodians should reduce key reuse and improve address hygiene, and to plan for migration to a quantum proof format in order to prepare themselves for future quantum breakthroughs.
Magazine: Bitcoin vs. the quantum computer threat — Timeline and solutions (2025–2035)
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Source: cointelegraph.com
