EU Supervisors Warn Quantum Computing Threatens Blockchain Security

Quantum computing poses a significant threat to blockchain security, according to EU supervisors. This concern has prompted Vitalik Buterin, co-founder of Ethereum, to propose a solution to reduce the cost of private transactions with quantum resistance by more than 99% within the Ethereum network.

The proposal, identified as EIP-8288 and co-authored with Thomas, aims to address the vulnerability of blockchain technology to quantum attacks. This move comes as other platforms, such as XRP Ledger, are also working towards achieving quantum-computing resistance by 2028.

Meanwhile, Algorand has appointed William Herkelrath as its new CEO, replacing Staci Warden after nearly five years in the role. Ethereum is targeting full quantum safety by December 2029 with its Hegotá upgrade taking shape.