BlackRock warns of the potential threat posed by quantum computing to Bitcoin (BTC) and other digital assets.
Quantum computing advancements could compromise the cryptographic algorithms that secure digital assets like Bitcoin, including SHA-256 and ECDSA.
Shor's algorithm, a powerful quantum algorithm, could potentially break the ECDSA and allow for the derivation of private keys from public keys, posing a security risk.
Efforts to address the quantum threat to Bitcoin include discussions on Quantum-Resistant Address Migration Protocol (QRAMP) and exploring hybrid cryptographic approaches.