Golden Finance reported that the advancement of Quantum Computing technology may redefine the traditional concept of 'lost coins' in BTC that cannot be recovered. The article points out that some early generated and long-abandoned Wallets (such as Satoshi Nakamoto's Wallet) may face risks due to the breakthrough of old encryption technology by Quantum Computing, as their owners are unable to migrate the Secret Key to a more secure Encryption Algorithm. This may make some BTC, which was previously considered permanently lost, re-circulate, thereby changing the scarcity narrative. Although BTC developers can protect active Wallets through protocol upgrades and the network's adaptability is sufficient to meet the challenges of the quantum era, old Wallets may be more vulnerable to future attacks, posing a new test for BTC network security.
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Opinion: Quantum computing or cracking lost BTC, challenging scarcity narrative
Golden Finance reported that the advancement of Quantum Computing technology may redefine the traditional concept of 'lost coins' in BTC that cannot be recovered. The article points out that some early generated and long-abandoned Wallets (such as Satoshi Nakamoto's Wallet) may face risks due to the breakthrough of old encryption technology by Quantum Computing, as their owners are unable to migrate the Secret Key to a more secure Encryption Algorithm. This may make some BTC, which was previously considered permanently lost, re-circulate, thereby changing the scarcity narrative. Although BTC developers can protect active Wallets through protocol upgrades and the network's adaptability is sufficient to meet the challenges of the quantum era, old Wallets may be more vulnerable to future attacks, posing a new test for BTC network security.