Adam Back: The quantum threat to Bitcoin is still distant, but the migration window has opened

Mars Finance reported that Blockstream CEO Adam Back said in a Bloomberg interview that quantum computers currently do not pose a real threat to the Bitcoin network, but the industry should begin preparing immediately. He noted that today’s hardware generally does not have error-correction capability, and the quantum risk is a long-term challenge rather than an imminent crisis. Adam Back emphasized that the key issue is not reaching a consensus on when quantum computers will have sufficient threat capability, but rather providing Bitcoin holders with a time window of about ten years to migrate their keys to quantum-resistant formats. He said that there is currently a 20-person research team working continuously on the effort, publishing papers and conducting real deployments, and that Blockstream’s Liquid network has already been put into use as an early testing platform. In addition, post-quantum cryptography has moved from the theoretical stage into the implementation stage, and the NIST completed the finalization of the relevant standards by the end of 2024. The main challenge facing the industry is how to coordinate and complete an orderly migration before the risk becomes urgent.