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Coinpaprika 2025-02-10 08:35:31

Tether CEO Warns Quantum Computing Could Impact Satoshi’s Bitcoin

Tether CEO Paolo Ardoino reassured the crypto community that quantum computing does not pose an immediate threat to Bitcoin’s security. However, he acknowledged that inactive Bitcoin wallets, including those linked to Satoshi Nakamoto, could become vulnerable as quantum technology advances. His statement follows reports that Google expects commercial quantum computing applications to emerge within five years. In a February 8 post on X, Ardoino emphasized that Bitcoin’s cryptographic security remains intact for now. He noted that while quantum computing is still far from being a serious risk, it could eventually expose old Bitcoin wallets with lost keys or deceased owners. This includes the estimated 1.2 million BTC associated with Bitcoin’s mysterious creator. “Any Bitcoin in lost wallets, including Satoshi (if not alive), will be hacked and put back in circulation,” Ardoino warned. Despite this, he dismissed concerns that quantum computing could impact Bitcoin’s 21 million supply cap , assuring that it remains unchanged regardless of technological advancements. “Only 21 million Bitcoin anyway. Nothing can change that. Not even quantum computing. That’s the real key important message,” he added. Ardoino’s perspective aligns with Emin Gün Sirer, co-founder of Ava Labs , who previously pointed out that early Bitcoin transactions used a now-outdated Pay-to-Public-Key (P2PK) format. This method exposes public keys, making them more vulnerable to quantum attacks. Sirer proposed that a precautionary approach could prevent future risks. He suggested freezing old P2PK-based holdings or setting an expiration date for their usability. “Satoshi’s early mined coins used the very old Pay-To-Public-Key (P2PK) format, which reveals the public key and gives the attacker time to grind, for the mother of all cryptography bounties…as QC gets threatening, the Bitcoin community might want to look into freezing Satoshi’s coins, or more generally, provide a sunset date and freeze all coins at P2PK UTXOs,” he said. Quantum computing operates on quantum mechanics principles , enabling calculations at speeds far beyond traditional computers. This has raised concerns about its potential to weaken modern encryption, including the cryptographic security of blockchain networks. Google recently unveiled its latest quantum processor, Willow, reigniting discussions about the timeline for practical quantum threats. Many experts previously estimated that such risks were at least a decade away, but Google’s Quantum AI chief, Hartmut Neven, suggested that real-world quantum applications could appear within five years. “We’re optimistic that within five years we’ll see real-world applications that are possible only on quantum computers,” Neven stated. A highly advanced quantum computer could theoretically break cryptographic keys, alter blockchain transactions , and interfere with mining operations. These developments could result in risks such as unauthorized access, double spending, and network manipulation. However, the crypto industry is already preparing countermeasures. Blockchain networks like Solana are actively developing quantum-resistant cryptography, ensuring that security evolves alongside emerging threats.

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