Coinbase Prepares for Quantum Computer Threat to Crypto Security

Coinbase has started preparing for the potential threat of quantum computers to crypto security. According to Coinbase's Chief Information Security Officer, Jeff Lunglhofer, a large-scale quantum computer capable of breaking current cryptography will eventually be built. However, no one knows exactly when this will happen.

The company has formed an Independent Advisory Board on Quantum Computing and Blockchain to assess the long-term risks facing digital assets. The board has high confidence that a fault-tolerant quantum computer will be developed in the future.

Coinbase is developing PQ-CoreKMS, a post-quantum version of its proprietary key management system. It plans to introduce an automated signing system that combines secure enclaves, secret sharing, and threshold cryptography within the next year.