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Galaxy Digital launches $5 million effort to make Bitcoin quantum-ready
The initiative will fund quantum-resistant signature schemes, wallet migration tools, and security audits, and Galaxy aims to win additional backing from other firms to accelerate adoption.
Galaxy Digital has launched a $5 million Bitcoin Quantum Readiness Initiative to support developers working on defenses against future quantum-computing threats to the Bitcoin network, according to CoinDesk.
The program plans to back research and engineering for quantum-resistant signature schemes, wallet migration tools, and security audits. Galaxy said it will begin accepting applications immediately and hopes other firms will contribute funding and research to speed the transition to new cryptographic standards.
CoinDesk reports that experts say quantum computers cannot yet break Bitcoin at a meaningful timeframe, but that preparing upgrades could take years because protocol migration would require coordination across developers, wallets, exchanges, and users.
The report also cites CryptoQuant research warning that, if quantum computing advances enough to undermine Bitcoin’s cryptography, roughly 6.9 million bitcoin could become vulnerable, worth about $461 billion at current prices.
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