Michael Saylor downplays quantum computing threat to Bitcoin

PANews June 9 news, according to CoinDesk, Strategy founder Michael Saylor recently downplayed the threat of quantum computing to Bitcoin in an interview with CNBC, believing that when the threat is imminent, the Bitcoin protocol can respond to potential risks through software upgrades. He said: "This is mainly a marketing trick by those who want to sell you the next quantum concept token. Google and Microsoft will not sell computers that can crack modern encryption technology because it will destroy Google and Microsoft - and also the US government and banking system."

There are currently multiple proposals to study how to make Bitcoin's proof of work (PoW) resistant to quantum attacks, including quantum-resistant encryption hardware developed by startups such as BTQ. A Bitcoin developer has submitted a BIP (Billion Dollar Improvement Proposal) suggesting that wallet addresses be migrated to quantum-safe addresses through a hard fork. Saylor emphasized that the Bitcoin protocol is upgraded every year, and the greater security threat comes from phishing attacks. Saylor concluded: "Bitcoin is a protocol; its software is upgraded every year." He also believes that the biggest security threat facing Bitcoin is phishing. However, not everyone agrees with Saylor's point of view. A recent report by Presto Research pointed out that the crypto industry is "unprepared" for the upcoming quantum threat.

Share to:

Author: PA一线

This content is for informational purposes only and does not constitute investment advice.

Follow PANews official accounts, navigate bull and bear markets together
Recommended Reading
2 hour ago
3 hour ago
4 hour ago
5 hour ago
5 hour ago
7 hour ago

Popular Articles

Industry News
Market Trends
Curated Readings

Curated Series

App内阅读