In the ever-evolving world of technology, a new threat looms: quantum computing. Google Quantum AI's study, published in May 2025, estimates that a quantum computer could crack the encryption used by cryptocurrencies like Bitcoin in a matter of days.
This breakthrough highlights the need for urgent action. The National Institute of Standards and Technology (NIST) has been at the forefront, finalizing post-quantum cryptography (PQC) standards in August 2024. These standards, including CRYSTALS-Kyber, CRYSTALS-Dilithium, and SPHINCS+, are designed to protect against quantum attacks.
The cryptocurrency community is also taking steps to safeguard its assets. Proposals like BIP-360 are being developed to introduce quantum-resistant features like the "Pay to Quantum Resistant Hash" (P2QRH) address type. As of July 5, 2025, Bitcoin trades at $108,216.00 USD, emphasizing the importance of these security measures.