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Blockchain in the Face of Quantum Threat: Are Bitcoin and Ethereum “Lagging Behind”?

Quantum Computing: A Potential Threat to Digital Assets
Quantum computing technology is developing rapidly and is predicted to threaten the current cryptographic foundation of cryptocurrencies , including Bitcoin.

Blockchain systems using legacy signature algorithms like ECDSA (Elliptic Curve Digital Signature Algorithm) , which protect trillions of dollars worth of digital assets, will become more vulnerable to attacks as quantum computers become more widespread, according to new research from Mysten Labs.

Solana, Sui, Near excel in quantum defense
Mysten Labs — the developer of the Sui (SUI) blockchain — says new blockchains using the EdDSA algorithm, such as Solana, Sui, and Near , are more likely to be able to upgrade to post-quantum security more easily than older systems like Bitcoin and Ethereum.

“Whichever blockchain supports sovereign wealth, state treasury or government-issued digital currency (CBDC), and if the community values long-term trust, then it needs to adopt a post-quantum cryptographic standard soon,” — Kostas Chalkias, co-founder of Mysten Labs emphasized.

Conversion is inevitable for Bitcoin and Ethereum
Governments have now recognized the risk and many are calling for the phasing out of legacy algorithms like ECDSA and RSA by 2030–2035.

This puts huge pressure on major blockchains like Bitcoin and Ethereum , as switching to quantum-secure algorithms would face many technical and operational difficulties .

Chalkias concludes:

“Bitcoin and Ethereum will eventually have to upgrade to quantum-resistant algorithms to ensure transaction security.”