The greatest quantum risk for Bitcoin may not lie in wallet keys, but in encrypted data exchanged between institutions.

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Golden Finance reports that on May 30, network infrastructure company ZeroTier CEO Andrew Gault said that the Bitcoin industry’s focus on threats from quantum computing may be off target. Its biggest risk may not necessarily be wallet private keys being cracked, but rather the encrypted authentication data currently transmitted between institutions and exchanges. Gault warned that attackers may adopt a “collect first, decrypt later” strategy—accumulating, in advance, today’s encrypted network traffic, authentication records, and digital signatures—then decrypting them once quantum computing capabilities mature in the future. He believes that security risks in the inter-institution data transmission layer could become a more serious challenge for future financial systems.
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