Avalanche founder: No need to panic about quantum doomsday, BTC has enough time to fix the vulnerability

Odaily Planet Daily News US President-elect Trump has promised to establish a strategic reserve for the government-held BTC, similar to the digital Fort Knox, but Quantum Computing can allow thieves to raid Knox. Some senior Cryptocurrency experts say BTC still has enough time to fix its vulnerabilities. Avalanche Cryptocurrency company’s founder Emin Gün Sirer said:“At some point in the future, the quantum world will definitely come to an end, but it will be a long time before that moment, so there is no need to panic.” Cryptocurrency executives believe that BTC can ensure its security by adopting a new encryption method that is not easily cracked by Quantum Computing. However, this radical reform may take several years. Due to the decentralized nature of BTC, changing its technology requires widespread consensus among people around the world who maintain its network. Past upgrade progress has been slow and controversial. However, even if the community reaches a consensus on how to protect BTC from quantum attacks, there is another obstacle: existing BTC needs to be transferred to quantum-resistant addresses. Every individual or company holding BTC needs to perform such a transfer, otherwise BTC may be stolen by quantum thieves. (WSJ)