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Quantum Computing and Blockchain: Matching Urgency with Real Threats
[Plain Language Introduction] The timeline for cryptographically relevant quantum computers (CRQC) is exaggerated.
Immediate transition to post-quantum cryptography is necessary due to the risk of "harvest now, decrypt later" (HNDL) attacks. However, digital signatures (which blockchains mainly rely on) are not vulnerable to HNDL threats, and migration strategies that hinder thoughtful consideration should be avoided. For Bitcoin, urgency arises from governance and the complex logistics of dormant coins.
The main near-term risks are implementation errors and side-channel attacks, not cutting-edge CRQC threats. It is recommended to deploy hybrid cryptography immediately and begin planning for signature migration.
For more details, see: