The founder of Binance believes this is a solvable challenge, and the technical solution is already in place.
Changpeng Zhao (CZ), the founder of Binance, has just spoken out about one of the long-term risks that is increasingly discussed in the tech and crypto world: the threat from quantum computers to the underlying encryption systems of Bitcoin and other current blockchains.
In an interview with TBPN, CZ stated that when quantum computing reaches sufficient power, it has the potential to break the encryption mechanisms currently protecting Bitcoin, including the ECDSA Digital Signature Algorithm , which is the foundation of the network's security. If this scenario occurs, Bitcoin may have to undergo a Hard Fork to upgrade to quantum-resistant cryptography algorithms (Post-quantum cryptography).
However, CZ doesn't consider this an insurmountable threat. He points out that the development of quantum computing will simultaneously spur the emergence of next-generation encryption algorithms that even quantum computers cannot crack, and in fact, quantum-resistant algorithms already exist. All that's needed is to upgrade the Bitcoin protocol to implement these security mechanisms.
CZ's perspective reflects a general trend within the blockchain research community: the quantum threat is real, but not without a way out; the issue is timing and the consensus of the Bitcoin community to implement upgrades before the risk materializes.
