Crypto groups form alliance to tackle quantum computing risks

Nine crypto organizations have banded together to create the Quantum Alliance, aiming to set shared standards that would shield blockchains from future quantum computer attacks. The group includes The Vault, Quantus, American Fortress, Intmax, Keystone, Midnight Foundation, Postquant Labs, Abelian and Hacken.

Their focus is on developing open testing methods, benchmarks and migration guidelines for post-quantum cryptography. The effort builds on the first official standards released by NIST in August 2024, which the industry has yet to adopt in a coordinated way.

Participants highlight the exposure of roughly 6.04 million BTC on addresses whose public keys are already known, including an estimated 1.1 million BTC possibly linked to Satoshi Nakamoto.

CTO Richard Carback of Postquant Labs told CoinDesk that a machine powerful enough to break current signatures via Shor’s algorithm could realistically arrive by 2028.

Based on information from cryptonews.net