WSJ returns to the hot BTC quantum hacker risk, experts call it an 'invisible bomb'

"The Wall Street Journal" (WSJ) recently reignited the discussion on the threat of Quantum Computing to the security of BTC, calling it an "invisible bomb." With the advancement of Quantum Computing technology, this threat could change the future of the cryptocurrency and blockchain industry within a decade, causing high attention in the industry.

WSJ Once Again Sparks Concerns About Quantum Hackers

In a recent report, The Wall Street Journal focused on the potential threat Quantum Computing could pose to BTC (BTC) security, calling it an 'invisible bomb, ready to explode at any time.' The article mentioned that Quantum Computing technology may disrupt the encryption architecture of BTC, and even threaten the entire blockchain ecosystem.

According to reports, with Google's release of its Willow Quantum Computing chip on December 9, the topic has once again heated up. In theory, a powerful Quantum Computing machine can crack the private key of BTC in a few minutes, making the security mechanism of BTC instantly invalid.

Potential economic impact may exceed 3 trillion U.S. dollars

According to a 2022 study by the Hudson Institute, quantum hackers may cause losses of over $3 trillion, affecting not only the Cryptocurrency market but also potentially triggering a global financial crisis.

Senior researcher Arthur Herman of the Hudson Institute said, "This is like an invisible bomb, once someone develops quantum hacking technology and targets Cryptocurrency, the consequences will be unimaginable." The WSJ report also mentioned that considering BTC's market value has reached a historical high of 2.1 trillion US dollars (BTC price is 108,000 US dollars), the actual potential impact may be even greater.

The primary target of quantum hackers: BTC

In the report, Skip Sanzeri, co-founder of the quantum security network company QuSecure, pointed out that BTC, as the "decentralized wild west," faces extremely high risks. He said: "BTC will become the primary target for quantum hackers. Unlike traditional banks, BTC lacks effective defense mechanisms, and there is no compensation for stolen wallets."

In addition, the report also mentions that about 1.72 million BTC are stored in addresses where public keys have been exposed, and these assets will be a priority target for quantum hackers. This even includes the wallet of BTC founder Satoshi Nakamoto.

Experts remain calm: there is still time to respond

Despite the existence of quantum threats, industry experts emphasize that there is no need to panic excessively. Avalanche founder Emin Gün Sirer believes that the risk of quantum hackers is still manageable. He said, 'The threat of quantum computing does exist, but the time for it to cause a disaster is still far away, and we have enough time to prepare.'

Tech giant Meta also discussed the so-called 'Quantum Doomsday' threat in an episode of its Metatech Podcast. Meta engineers believe that the breakthrough in Quantum Computing not only threatens blockchain, but also poses a challenge to all industries that rely on encryption technology.

Efforts to combat the threat of quantum

To address this threat, engineers are working on developing post-quantum encryption technology. Meta stated that by combining traditional algorithms and new technology, they are developing encryption standards that can withstand quantum threats.

These efforts show that although Quantum Computing poses a real challenge to the blockchain industry, it is not entirely accurate to call BTC a "hidden bomb". With the continuous evolution of relevant technologies, the "doomsday scenario" of the encryption industry may still be successfully resolved.

The experts at Meta ended the discussion on an optimistic note, saying, "Developing quantum defense technology is a daunting task, but we are fully capable of meeting this challenge."

This article WSJ re-fries BTC quantum hacker risk, experts call it an 'invisible bomb' first appeared on Chain News ABMedia.