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Coinbase established an expert group to evaluate the impact of quantum computing.
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The initiative responds to potential threats to keys and cryptography that protect millions of BTC.
The American exchange Coinbase, one of the main custodians and exchange platforms for Bitcoin and other crypto assets globally, announced on January 21 the creation of a new body focused on facing the challenges that quantum computing can bring to the sector.
The American exchange introduced the Coinbase Independent Advisory Council on Quantum Computing and Blockchain, a group composed of experts in cryptography, quantum computing and blockchain systems.
Members include academics from institutions such as the University of Texas, Stanford, as well as researchers from the Ethereum Foundation (EF) and leaders in distributed network security and consensus.
The purpose of this advice is twofold:
- Assess independently the implications that the advancement of quantum computing will have on the cryptographic mechanisms that sustain networks such as Bitcoin and Ethereum.
- Offer practical guidance and clear to all developers, institutions and users on how to prepare for these challenges long before a quantum computer with the real capacity to compromise said cryptographies comes into existence.
An expert body for a future risk
According to Coinbase’s official announcement, the advisory board will publish position papers assessing the state of quantum computing and its implications for network security, as well as issuing concrete recommendations for individuals, developers, and organizations.
The exchange also plans to respond in real time to significant advances in quantum computing through independent analysis and practical guidance.
Coinbase’s approach underscores a reality for the cryptocurrency ecosystem: the transition toward quantum-resistant defenses It will not be a spontaneous eventbut a gradual process that will require coordination between custodians, developers, networks and users.
Bitcoins in danger
As reported by NoticiasVE, there are currently nearly seven million bitcoins (BTC) that could potentially be exposed to vulnerabilities linked to quantum computing.
In particular those BTC that are exposed in reused addresses, having publicly revealed the keys, which would facilitate future attacks by powerful quantum machines.
Although many of these addresses They belong to cryptoasset exchange sites like Binance, Bitfinex or Robinhood, according to data from Project Eleven, Coinbase is not on that list.