Coinbase Prepares for Quantum Threat as Industry Launches Security Consortium
Coinbase CEO Brian Armstrong says that quantum computing does not pose an immediate threat to Bitcoin. However, he emphasizes that the industry must prepare for a future where powerful quantum computers become a reality.
A new initiative called the Bitcoin Security Consortium has been launched by Coinbase alongside BlackRock, Fidelity Digital Assets, Block, and other major players in the industry. The consortium aims to support the long-term security of the Bitcoin network and coordinate efforts to prepare for the eventual arrival of quantum computers.
Coinbase is developing a quantum-resistant version of its proprietary key management system, known as PQ-CoreKMS, as part of its post-quantum strategy. It will also co-host working sessions with Bitcoin Core developers, cryptographers, and researchers to discuss migration strategies for decentralized blockchain networks.