According to Coinbase CEO Brian Armstrong, quantum computing isn’t a current danger to Bitcoin. However, he believes the crypto industry needs to start getting ready now for the day when quantum computers become powerful enough to pose a risk.
Armstrong announced on X (formerly Twitter) the creation of the Bitcoin Security Consortium. This new group is supported by major companies in the crypto space, including Coinbase, BlackRock, Fidelity Digital Assets, Block, Blockstream, and Strategy.
This group is working to keep the Bitcoin network secure for the future, including getting it ready for the potential challenges posed by quantum computing.
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This news follows Coinbase’s release of a plan for preparing for the future of quantum computing. The company stated that it’s building a new, secure key management system called PQ-CoreKMS designed to withstand attacks from quantum computers.
Experts believe that quantum computers capable of breaking current encryption will eventually be created. However, they don’t see this as an immediate danger. The biggest challenge isn’t the computers themselves, but securely updating millions of users across many different blockchain networks.
Starting in August, Coinbase is partnering with the core team behind Bitcoin – its developers, security experts, and researchers – to explore ways to improve the network. They’re also committing both engineers and financial support to this effort, building on recent progress.
Recently, the U.S. National Institute of Standards and Technology (NIST) chose and standardized the first set of encryption methods designed to be secure against future quantum computers. As a result, governments and tech companies are beginning to update their important systems to use these new standards.
While today’s quantum computers aren’t powerful enough to break the security of Bitcoin, progress in building more reliable and accurate machines is ongoing. Most experts believe a quantum computer capable of attacking Bitcoin would need millions of extremely high-quality components and advanced error correction – far beyond what we have now. However, it’s hard to say exactly when such technology might appear.
When it comes to protecting Bitcoin from the potential threat of quantum computers, developers are exploring a few different solutions. These include using new, quantum-resistant ways to secure transactions, encouraging users to transfer their Bitcoins to more modern addresses, and making changes to the underlying software through proposed updates. However, any shift would need widespread agreement from the Bitcoin community.
Coinbase said that is precisely why it believes the industry’s focus should be on preparation.
2026-07-26 16:11