The recent discussions around quantum computing have sparked concerns about the potential risks to legacy blockchains. For XRP holders, experts suggest that the token's architecture may provide better protection against these threats than Bitcoin's. The XRP Ledger, an open-source and decentralized blockchain, is used by Ripple to facilitate cross-border transactions. Let's break down the issue and explore the differences between XRP and Bitcoin in terms of quantum vulnerability.
The primary concern is that a powerful quantum computer could potentially reverse-engineer a user's private key from their exposed public key, allowing unauthorized access to funds. Typically, a user's public key is exposed when they send a transaction, making their account activity a factor in quantum vulnerability. A recent audit of the XRP Ledger found that around 300,000 accounts, holding approximately 2.4 billion XRP, have never sent funds and are therefore considered quantum-safe by default.
However, there are dormant whale accounts that have transacted in the past and may be vulnerable to quantum attacks. The XRP Ledger's key rotation feature allows users to swap their signing key without moving funds, providing an additional layer of protection.
Mayukha Vadari, a staff software engineer at Ripple, also highlighted the escrow feature as a defense against quantum risk, as funds locked in escrow with a time lock are safe due to logic rather than cryptography. In comparison, the quantum threat to Bitcoin appears more significant due to the sheer scale of vulnerable coins and the lack of a key rotation feature.
Approximately 6.9 million BTC are estimated to be vulnerable, which is nearly 35% of Bitcoin's circulating supply. While Bitcoin developers have proposed initiatives to develop quantum resistance, the current structural vulnerabilities pose a greater risk to holders.