Microsoft’s latest breakthrough in quantum computing has reignited discussions about Bitcoin’s security in a post-quantum world. On February 19, the tech giant introduced its quantum computing (QC) chip, Majorana 1, marking a significant step toward large-scale quantum applications.
Bitcoin exchange River highlighted that while a crypto-threatening quantum breakthrough is still years away, Microsoft’s new chip may have shortened that timeline.
What is the Threat?
Quantum computing has long been seen as a potential threat to Bitcoin’s cryptographic security. River noted in a February 20 post on X that a quantum computer with 1 million qubits could theoretically crack a Bitcoin address.
Microsoft claims that its new chip is a step toward reaching that level of computing power. This raises a key question: How long does Bitcoin have before it must become quantum-resistant?
Quantum Computing: Closer to Reality?
Quantum computers are notoriously difficult to build and operate. In the past, they could only run for a few microseconds before breaking down due to environmental noise and the need for extremely low temperatures. This made practical, large-scale quantum computing seem like a distant reality.
However, Microsoft’s Majorana 1 chip addresses some of these challenges, offering improved stability. With this development, quantum computers are moving closer to real-world applications.
While the chip is still far from the scale required to tackle industrial-grade problems, Microsoft CEO Satya Nadella predicts that quantum systems could reach 1 million qubits by 2027–2029.
Does Bitcoin Need to Act Now?
Bitcoin’s security relies on cryptographic algorithms that, in theory, could be broken by sufficiently advanced quantum computers.
If quantum computing advances faster than expected, Bitcoin’s current cryptographic protections could become obsolete, potentially allowing hackers to steal funds by breaking private keys.
That said, some experts believe that Bitcoin’s timeline for becoming quantum-resistant is much longer than many fear. Adam Back, a respected cryptographer, argues that post-quantum computing is still several decades away.
He expects ongoing research in post-quantum cryptographic signatures to result in stronger, more compact signatures that Bitcoin can integrate into its network.
Others, like Bitcoin advocate Adrian Morris, suggest that quantum computing is “barely a viable technology” today. In a post, he pointed out that major issues remain, particularly in thermodynamics, memory, and maintaining stable calculations over extended periods.
Some estimates suggest that quantum computing might not pose a real threat for another 100 years.
Also Read: Microsoft Shareholders Reject Proposal To Add Bitcoin To Balance Sheet, Less Than 1% Votes In Favour
Bitcoin’s Quantum-Resistant Plan
Despite the uncertainty, Bitcoin developers are already preparing for a potential quantum threat. Preston Pysh, co-founder of The Investor’s Podcast Network, pointed to BIP-360 as a key proposal for addressing quantum security concerns.
BIP-360 suggests transitioning Bitcoin to a quantum-resistant cryptographic structure by replacing its current signature methods with more secure alternatives.
Pysh noted that this upgrade could be implemented via a soft fork, ensuring a smooth transition without disrupting the network.
The Road Ahead
While Microsoft’s quantum advancements highlight the need for long-term security planning, Bitcoin’s immediate risk remains low. Quantum computers capable of cracking Bitcoin addresses are still far from reality. However, the industry is proactively researching and developing quantum-resistant solutions to safeguard Bitcoin’s future.
For now, Bitcoin remains secure. But as quantum computing continues to evolve, the crypto community must stay ahead of the curve, ensuring the network remains resilient in the face of future technological advancements.