"Adam Back emphasized that much of today's quantum research is still in its early experimental phase, with existing quantum hardware lacking full error correction and only capable of trivial computations. He stated, 'The biggest calculation it's performed is factoring 21 into 7 times 3,' highlighting that current machines are closer to laboratory prototypes than practical systems."
"Back argued that while recent academic work has shown potential algorithmic improvements, these do not yet translate into meaningful hardware capability. He believes that quantum computers capable of threatening Bitcoin's elliptic curve cryptography are 'decades off,' although he acknowledged uncertainty around exact timelines."
"Despite the long timeline, Back stressed the importance of the Bitcoin ecosystem preparing for quantum computing risks. He advocated for a gradual migration path toward quantum-resistant signature schemes, allowing users and custodians ample time to update keys and infrastructure without disruption."
Adam Back stated that quantum computing is not a current threat to Bitcoin's cryptographic security, as existing quantum hardware is still experimental and limited. He emphasized that significant advancements in quantum computing are decades away. Despite this, he urged the Bitcoin ecosystem to start preparing for potential risks by transitioning to quantum-resistant signature schemes. Blockstream is actively researching post-quantum approaches and has implemented some in the Liquid network, which serves as a testing ground for new features.
Read at Bitcoin Magazine
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