Ethereum Scientist Warns 20% Chance Quantum Computers Break Crypto By 2030

Ethereum co-founder Vitalik Buterin and other experts have raised serious concerns about the threat quantum computing poses to cryptocurrency security, estimating about a 20% chance that quantum computers could break current cryptography by 2030 and likely by 2040. Quantum computers, using qubits, have the potential to solve encryption problems exponentially faster than classical computers, endangering cryptographic systems that secure digital assets like Bitcoin and Ethereum. Researchers like Ian Miers and Google quantum expert Craig Gidney emphasize the urgency to develop quantum-resistant cryptographic proofs, such as STARKs and zero-knowledge schemes, to ensure blockchain security remains sound against future quantum attacks. Meanwhile, Bitcoin’s reliance on elliptic curve cryptography makes it vulnerable to quantum algorithms like Shor’s, though experts agree the threat is not immediate, with some suggesting significant risks may arise within the next decade or two. The crypto community is actively working on new quantum-resistant cryptographic tools and advising best practices, such as avoiding address reuse, to mitigate risks and protect digital assets. Despite looming threats, ongoing innovation and adaptability in the field provide hope that cryptocurrencies can withstand the challenges posed by the advent of quantum computing.