BroadChain has learned that in an April 8 interview with Bloomberg, Blockstream CEO Adam Back stated that quantum computers currently do not pose a practical threat to the Bitcoin network, but the industry should start preparing immediately.
Back pointed out that current hardware generally lacks robust error-correction capabilities, meaning the quantum risk remains a long-term challenge rather than an imminent crisis.
He emphasized that the core issue isn't about reaching a consensus on when quantum computers will become a significant threat. Instead, the focus should be on providing Bitcoin holders with a roughly ten-year window to migrate their keys to quantum-resistant formats.
Back added that a dedicated research team of 20 people is already actively working on this initiative—publishing papers and conducting real-world deployments. Blockstream's Liquid network is serving as an early testing platform for these efforts.
Furthermore, post-quantum cryptography has advanced from theoretical research to practical implementation, with NIST finalizing its relevant standards by the end of 2024.
The industry's primary challenge now lies in coordinating an orderly migration before the risk becomes urgent.