Galaxy is taking steps to protect Bitcoin from the future possibility of attacks from quantum computers.
Led by crypto enthusiast Mike Novogratz, the company is offering $5 million in grants to developers working on ways to protect systems from future quantum computer attacks.
The Galaxy Bitcoin Quantum Readiness Initiative will help create new security methods, suggest improvements to Bitcoin, and develop ways to easily move Bitcoin to more secure systems.
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Currently, Bitcoin’s security isn’t threatened by quantum computers. However, that situation could change surprisingly quickly, and the Bitcoin community isn’t moving fast enough to prepare a solution.
This project will focus on providing financial support to developers, continuing research with Galaxy Research, and establishing a Quantum Advisory Council made up of leading experts in quantum computing and security.
According to Alex Thorn, head of research at Galaxy Digital, quantum computing is advancing rapidly, while Bitcoin developers are only now starting to seriously explore ways to protect against the potential threats posed by quantum computers.
The company explained that Bitcoin’s security system, which uses a type of complex math called elliptic curve cryptography, could be vulnerable in the future if quantum computers become powerful enough. However, they pointed out that these powerful computers don’t exist yet, giving Bitcoin time to adapt and strengthen its defenses.
Quantum risk is real
Galaxy recently released a report exploring how quickly developing quantum computers could potentially pose risks to Bitcoin.
The report indicates the biggest threat to this leading cryptocurrency is the potential for powerful future quantum computers to crack its security system, which relies on a specific type of encryption called elliptic curve digital signatures.
Millions of coins could be at risk under certain scenarios, according to some estimates.
The company stated they understand the risk and are actively working on ways to reduce it.
One of the biggest challenges for Bitcoin is its slow decision-making process. Because Bitcoin isn’t controlled by a single entity, updating it to protect against future threats like quantum computing would require a lot of cooperation between developers, miners, and others involved.
2026-07-21 18:37