Bitcoin’s Quantum Conundrum: A Looming Threat to Network Security
The co-founder of Solana, Anatoly Yakovenko, has sounded the alarm on a potential quantum computing breakthrough that could render Bitcoin’s current safety measures obsolete. Speaking at the All-in-Summit 2025, Yakovenko warned that there is a “50/50” chance that quantum computers could crack the cryptographic protective measures safeguarding Bitcoin transactions within the next five years.
The concern centers on quantum machines that can run algorithms like Shor’s, which could potentially break the digital signature algorithm of the elliptical curve used to protect private keys in Bitcoin (BTC). This would enable attackers to falsify transactions and compromise the network, posing an existential risk to the entire system.
Quantum Threats and Skeptics
Yakovenko argued that Bitcoin should migrate to a quantum-resistant signature scheme before this technology becomes viable. However, not everyone shares his sense of urgency. Adam Back, CEO of Blockstream, estimated that the technology is still relatively far away and argued that upgrading Bitcoin will be “relatively simple.” Other skeptics, like Peter Todd, a Bitcoin Core contributor, dismissed current quantum computers as non-existent, stating that “demos that run toy problems don’t count.”
Despite the skepticism, Yakovenko pointed to the rapid progress in AI as evidence that laboratory research can quickly translate to real-world applications. He suggested that if tech giants like Apple or Google are already using quantum-resistant cryptographic stacks, it’s time for Bitcoin to migrate its security infrastructure.
Vulnerabilities and Exposure
The quantum weakness of Bitcoin stems from two primary attack vectors. The network uses ECDSA based on the SecP256K1 curve to secure private keys and validate transactions, making it particularly susceptible to the Shor algorithm. Approximately 25-30% of all Bitcoin, over 4 million BTC, including early Satoshi Nakamoto holdings, are stored in addresses with exposed public keys.
These old Legacy Pay-to-Public Key addresses are immediately vulnerable to quantum attacks since their public keys are already visible on the blockchain. Additionally, transaction windows create further risk exposure, as public keys are revealed during the approximately 10-minute confirmation window. A sufficiently powerful quantum computer could exploit this short exposure to derive private keys and steal funds before transactions are confirmed.
A Call to Action
The design of Bitcoin complicates a quantum upgrade, as it would require a hard fork – an extremely controversial and technically complex process that demands widespread network support. Nevertheless, Yakovenko’s warning serves as a reminder that the Bitcoin community must be proactive in addressing potential quantum threats. As the cryptocurrency landscape continues to evolve, it’s essential to prioritize network security and stay ahead of emerging risks.
For more information on this developing story, visit https://crypto.news/bitcoin-faces-quantum-risk-solana-co-founder-warning/
