Odaily Planet Daily reports that a16z Crypto published a lengthy article on the X platform stating: The timeline for the emergence of quantum computers capable of breaking cryptocurrencies (CRQC) is often exaggerated; it is highly unlikely they will appear before 2030, and the risk profiles of different cryptographic primitives vary. Post-quantum encryption needs to be deployed immediately due to threats like “Harvest Now, Decrypt Later” (HNDL) attacks. However, quantum-resistant signatures and zkSNARKs are less susceptible to HNDL attacks, and premature migration could introduce performance overheads, implementation immaturity, and code vulnerabilities. Therefore, a cautious rather than hasty migration strategy should be adopted. For blockchains, most non-privacy public chains like Bitcoin and Ethereum primarily use digital signatures for transaction authorization, so they do not face HNDL risks. Their migration pressures mainly stem from non-technical challenges such as slow governance, social coordination, and logistical issues. Bitcoin faces particular problems, including slow governance and the existence of millions of tokens worth hundreds of billions of dollars that are quantum-vulnerable and may be abandoned. In contrast, privacy chains encrypt or hide transaction details, making their confidentiality susceptible to HNDL attacks, and should transition as early as possible.
a16z Crypto emphasizes that in the coming years, implementation security issues such as code vulnerabilities, side-channel attacks, and fault injection are more urgent and significant security risks than threats from distant quantum computers. Developers should prioritize investments in code audits, fuzz testing, and formal verification.
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