Scientists are convinced that quantum computers can hack the bitcoin blockchain

Bitcoin developers BTC $92,398.71 Bitcoin -1.31% Market capitalization $1.83 trillion VOL. 24 hours $2.56 billion are preparing for a possible threat posed by quantum computers capable of breaking modern cryptographic security. The so-called «Q Day» envisages the emergence of machines that will be able to crack the private keys of bitcoin wallets using the Shor algorithm, which poses a serious danger to the system. This was reported by Google Quantum AI specialists.

The main problem is the vulnerability of public keys that become available during transactions. Older types of addresses, such as Pay-to-Public-Key (P2PK), pose the greatest risk, while modern Pay-to-Public-Key-Hash (P2PKH) are more secure if not reused. According to various estimates, about 37% of coins are currently at risk.

To counteract the threats, a new Pay to Quantum Resistant Hash (P2QRH) address standard has been proposed as part of BIP-360. It uses hybrid cryptography that combines Shor’s signatures with post-quantum algorithms such as FALCON. The new addresses will begin with the bc1r designation, and their structure will protect public keys from intruders.

The process of switching to the new addresses can take from several months to several years, depending on the support of the community and exchanges. Migration requires considerable effort, but is technically possible, allowing for effective countermeasures.

Although the threat of quantum computers is a reality, bitcoin developers are demonstrating their readiness to protect the system. The proposed QuBit softfork demonstrates the community’s determination to ensure the reliability of the cryptocurrency even in the face of new challenges.