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Quantum Computing Is Threat To BTC: BlackRock

  • 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.

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