Expert Eli Ben-Sasson warns that quantum processing power could penetrate Bitcoin encryption.

Quantum computing represents a potential threat to cryptocurrencies, warns Eli Ben-Sasson, a blockchain expert. Rapid progress in this field could allow hackers to break the encryption that protects digital wallets, which could lead to a collapse of assets worth trillions. Ben-Sasson compares the current situation to the passengers of the Titanic ignoring an imminent iceberg. Widely used encryption, such as RSA and elliptic curve encryption, could be vulnerable to quantum computers, which process information differently than classical ones.

Large companies, including IBM and Google, are investing in the development of advanced quantum computers. Although there are technical obstacles, a revolutionary discovery could emerge sooner than expected. The impact of quantum computing would extend beyond cryptocurrencies, affecting banking systems and military communications as well. Ben-Sasson urges the cryptographic community to adopt post-quantum cryptography, which is more resistant to quantum attacks. Although some companies have begun to integrate these methods, Bitcoin faces unique challenges due to its decentralization, which complicates rapid adaptation to threats. Experts warn that without swift actions, trust in the cryptocurrency system could be severely affected.