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Cryptocurrencies may become the primary target of quantum computing attacks, and governance speed is the biggest risk.

DeepFlowTech
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Deep Tide TechFlow update: On July 27, according to CoinDesk, Eddy Zervigon, CEO of Quantum Xchange, a quantum-computing security infrastructure company, said that because of their decentralized nature, cryptocurrencies will become the “canary in the coal mine” for quantum computing attacks—meaning the first area to expose vulnerabilities. A recent assessment by Google researchers shows that the number of physical qubits required to crack Bitcoin’s elliptic-curve cryptography has dropped by 20 times compared with earlier estimates, and multiple organizations have moved their expected “Q-Day” (the day quantum computers can break existing cryptographic systems) forward to 2029. German Digital Assets noted that the real risk is not the cryptographic technology itself, but the pace of governance—upgrading Bitcoin requires 90% miner consensus, and historically this has led to hard forks (for example, the 2017 SegWit upgrade resulted in the birth of Bitcoin Cash). By contrast, traditional financial institutions only need a board resolution to complete the migration of encryption infrastructure. In addition, experts warn that the quantum threat is not a binary event that “arrives suddenly one day.” Even if quantum computers take months to crack data, as long as the cracking is completed while the data still has value, the threat already exists.
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