According to Blockstream CEO Adam Back, the threat of quantum computing to the Bitcoin network is more theoretical than immediate, but the industry must still prepare. As a pioneer in Bitcoin's history, known for his work in cryptography since the 1990s, Back emphasized that while the risk is real in theory, it is not yet a practical concern, in a recent interview with Bloomberg.
Back pointed out that current quantum hardware lacks error correction, a point supported by recent research papers. Although the threat is long-term, Back stressed the importance of timely preparation, allowing for a gradual migration to quantum-resistant formats over the next decade.
This timeline aligns with the development of post-quantum cryptography, which is transitioning from theoretical to practical implementation, particularly after the standardization by NIST in 2024. Back highlighted that active research and deployment are already underway across the ecosystem, citing a dedicated 20-person research team and the Liquid network as a testing ground. The main challenge for the industry is to coordinate a smooth, orderly migration before the quantum threat becomes urgent.