TechFlow news, December 7 — According to a16z crypto's report "Quantum computing and blockchains: Matching urgency to actual threats," although quantum computers pose a long-term threat to cryptographic systems, the actual risk is widely exaggerated. The report indicates that the emergence of "cryptographically relevant quantum computers" capable of breaking modern cryptographic systems before 2030 is highly unlikely.
a16z recommends immediately deploying hybrid cryptographic schemes to defend against "harvest now, decrypt later" (HNDL) attacks, but blockchains do not need to rush into adopting post-quantum signature technologies, as digital signatures are not vulnerable to HNDL attacks.
Bitcoin faces unique challenges due to its slow governance mechanism and a large number of potentially abandoned quantum-vulnerable coins, requiring early planning for migration paths. Privacy-focused chains, on the other hand, require post-quantum protection more urgently because they encrypt transaction data.
The report emphasizes that achieving security and addressing current vulnerabilities remain far more urgent threats than the distant risks posed by quantum computing, and it proposes seven specific recommendations to help the industry address quantum-related challenges.
