TechFlow News, May 7: According to a report by The Block, quantum-safe startup Project Eleven has released a new report stating that “Q-Day”—the day quantum computers break modern encryption—could arrive as early as 2030, with a “greater-than-50% probability” of occurring before 2033. The report warns that advances in quantum computing capability will not progress linearly but rather emerge suddenly and dramatically—“from zero to operational, instantaneously.” Currently, approximately 6.9 million BTC (valued at over $560 billion) face quantum attack risks under specific conditions.
In response to this threat, several mitigation strategies have already emerged within the industry: Paradigm researcher Dan Robinson proposes using timestamp proofs to help asset holders reclaim their funds on a future quantum-safe version of the Bitcoin network; the BIP-361 proposal, co-authored by Jameson Lopp and others, recommends establishing a multi-year migration window to guide users in transferring funds to quantum-resistant addresses. Google has also accelerated its quantum-resistant cryptographic migration target to 2029.
