Gate News message: On April 13, according to Cointelegraph, Bernstein recently released a research report saying that Bitcoin’s prior pullback has, to a certain extent, already reflected the market’s concerns about quantum computing risks. The firm believes the quantum threat is “real but manageable” and does not yet constitute an imminent systemic risk.
Bernstein noted that, although research—including from Google—suggests that future quantum computers could, in extreme cases, quickly break some of the encryption algorithms commonly used in blockchains, progress in zero-knowledge proofs and post-quantum cryptography to some degree provides a hedge. The firm believes that Bitcoin developers still have about 3 to 5 years to advance the path for post-quantum upgrades, and it also referenced the current BIP-360 proposal, which could reduce some quantum exposure risks through a soft fork.
In addition, Bernstein said that institutional investors (including ETF issuers and corporate holders) are expected to play a positive role in driving the upgrade consensus. However, industry views note that the main challenge for post-quantum upgrades lies in user migration and consensus formation, rather than the technical implementation itself.
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