American exchange Coinbase, one of the world’s leading custodians and exchange platforms for Bitcoin and other crypto assets, announced on January 21 the creation of a new entity focused on addressing the challenges that quantum computing may pose to the field.
The American exchange has introduced a group called the Coinbase Independent Advisory Committee on Quantum Computing and Blockchain. Comprised of experts in cryptography, quantum computing, and blockchain systems.
Members include academics from the University of Texas at Stanford University and elsewhere, researchers from the Ethereum Foundation (EF), and leaders in decentralized network security and consensus.
The purpose of this advice is twofold.
- evaluation Advances in quantum computing are independent of their impact on the cryptographic mechanisms that sustain networks such as Bitcoin and Ethereum.
- Provide practical guidance And long before quantum computers arrive with the real ability to break cryptography, it will be clear to all developers, institutions, and users how to prepare for these challenges.
Expert organization to prepare for future risks
According to Coinbase’s official announcement, the advisory board will issue a position paper assessing the current state of quantum computing and its impact on network security. In addition to this, specific recommendations for individuals, developers and organizations will also be issued.
The exchange also plans to respond to significant advances in quantum computing in real time through independent analysis and practical guidance.
Coinbase’s approach highlights the reality of the cryptocurrency ecosystem: the transition to quantum-proofing It’s not a spontaneous eventHowever, it is a gradual process and requires coordination between administrators, developers, networks, and users.
Bitcoin at risk
As reported by CriptoNoticias, currently Approximately 7 million Bitcoins (BTC) potentially leaked Vulnerabilities related to quantum computing.
In particular, BTC whose keys are publicly available and published in reused addresses is at risk. Something that will facilitate future attacks by powerful quantum machines.
Many of these addresses Belongs to a crypto asset exchange site According to Project Eleven data, Coinbase is not on that list, as are Binance, Bitfinex, and Robinhood.
