Bernstein: The Bitcoin market has absorbed quantum risk and does not pose a survival threat in the short term

ME News Report, April 13 (UTC+8), Bernstein stated that Bitcoin’s previous pullback has partly reflected market concerns about quantum computing risks, considering the threat “real but manageable,” and not an imminent systemic risk. Although research including Google indicates that future quantum computers could potentially rapidly crack commonly used blockchain encryption algorithms in extreme cases, progress in zero-knowledge proofs and post-quantum cryptography provides some hedge. Bernstein believes that Bitcoin developers still have about 3 to 5 years to advance the post-quantum upgrade path, and mentioned the current BIP-360 proposal, which can reduce some quantum exposure risks through a soft fork. Additionally, institutional investors (including ETF issuers and corporate coin holders) are expected to play an active role in driving consensus for the upgrade. However, industry experts point out that the main challenge of post-quantum upgrades lies in user migration and consensus formation, rather than technical implementation itself. (Source: ChainCatcher)