Authored by Mathew Di Salvo via BitcoinMagazine.com,
BlackRock, the world’s biggest asset manager, has chimed in on the crypto-quantum debate - and is surprisingly optimistic.
The firm, which manages over $15 trillion in assets, said in its new report, Quantum Computing and Blockchains, that upgrading existing cryptography to quantum-resistant standards is a far easier task than actually building a functional quantum computer capable of breaking that cryptography.
“In our view, PQ migration for cryptocurrencies is eminently addressable from a technical standpoint, and the key challenge is one of timely coordination and implementation,” the report read.
The crypto community has sounded the alarm about hypothetical advancements in quantum computers that could in the future be able to break Bitcoin’s cryptography. Some in the space — including Bitcoin developers — have started preparing for a post-quantum future by testing quantum-resistant signatures on live sidechains.
Quantum computers do exist but make mistakes and a machine that can break Bitcoin’s cryptography currently does not exist.
Bitcoin currently is the biggest computer network in existence.
BlackRock has skin in the g
