Mentioned:
BTQ Technologies has unveiled their next hyper ambitious vision: securing Bitcoin from quantum computing threats.
What’s happening:
- BTQ Technologies (NASDAQ: BTQ) has successfully demonstrated a new quantum resistant technology known as Bitcoin Quantum Core Release 0.2 to secure Bitcoin against attacks from quantum computing
Why it matters:
- BTQ Technologies’ new Bitcoin Quantum Core Release 0.2 uses NIST approved Module-Lattice Digital Signature Algorithm to replace Bitcoin’s existing Elliptic Curve Digital Signature Algorithm which is not safe from quantum computing attacks
Going deeper:
- Bitcoin Quantum Core Release 0.2 is purpose built to fully maintain Bitcoin’s existing network architecture and economic model while being able to be resistant to threats from quantum computing that could compromise the existing Bitcoin network
- BTQ Technologies has built their Bitcoin Quantum Core Release 0.2 on Bitcoin Core and integrated Post-Quantum Key infrastructure which will enable the deployment of new quantum resistant signature algorithms that upgrade the cryptography of Bitcoin transactions
The intrigue:
- BlackRock has been publicly outspoken about the risks that quantum computing pose to the future of Bitcoin and have published detailed concerns about Bitcoin’s ability to withstand threats from quantum computers in their regulatory filings for their spot Bitcoin ETF
