In the crypto world, quantum computers are causing a lot of concern. Google recently reported that future quantum computers could possibly break Bitcoin’s (BTC), private keys in less than nine minutes. Many have questioned if we’re nearing the end for cryptocurrencies. New measures will likely be taken to combat the potential threat that quantum computers pose to crypto. To protect Bitcoins (BTCs) worth $74 billion that Satoshi Nakamoto owned, a new proposal aims to freeze them.
Satoshi Bitcoins to be Frozen?
BIP-361 proposes that Satoshi’s Bitcoin (BTC), holdings be frozen in order to safeguard them against quantum threats. Jameson Lopp and his five co-authors want to freeze Satoshi’s Bitcoins before quantum computers are made public. It is called “Post Quantum Migration and Legacy Signature Sunset.”
Bitcoin’s (BTC) post-quantum readiness is still lacking. Ethereum (ETH) has already started working on quantum protection.
You may also like: 3 Cryptocurrencies That Could Be Safe From Quantum Computers
Quantum computers could pose a serious threat to the crypto sector. The cryptocurrency sector may be threatened by the advent of quantum computers.
Can BTC reach $1 million before Quantum Computers arrive?
BTC’s limited supply has led to the prediction that it will reach $1 million. Several industry analysts, including Binance’s Changpeng Zhao, Ark Invest CEP Cathie wood, Strategy Chief Michael Saylor and others, predicted that BTC would eventually reach a seven-digit level. BTC is expected to reach $1 million by the end this decade, according to many industry experts.
Quantum computers, however, could pose significant challenges for Bitcoin (BTC) to reach the $1,000,000 mark. The BTC team could boost its price if they develop a post-quantum security system.
“This article is not financial advice.”
“Always do your own research before making any type of investment.”
“ItsDailyCrypto is not responsible for any activities you perform outside ItsDailyCrypto.”
Source: watcher.guru
