Crypto Firms Prepare Post-Quantum Defenses as Google Research Warns 2029 Quantum Threat

According to Reuters, cryptocurrency firms are developing post-quantum cryptography defenses today following Google research suggesting quantum computers capable of breaking current encryption could arrive by 2029. Bitcoin is particularly vulnerable, with estimates that 35% to 50% of its supply could be exposed to such attacks, as quantum computers could eventually allow bad actors to forge digital signatures and authorize unauthorized transactions.

The Ethereum Foundation targets full post-quantum protection by 2029, while Algorand plans to support post-quantum accounts later this year. However, none of the top 20 blockchains have yet implemented such quantum-resistant algorithms.