Ethereum Fortifies For The Future
While Ethereum price USD is steady if not brilliant, it is widely viewed by institutional investors as a major player over the next decade
Quantum Computing Threat
Growing institutional adoption of crypto means cybersecurity safeguards will need to be stronger than ever before.
As more giants of the financial world, notably Goldman Sachs and Morgan Stanley, embrace digital assets, so the expectation on crypto platforms to provide guarantees on security measures will intensify.
One of the major concerns going forward is the impact quantum computing might have on crypto-holding firms as well as the networks themselves.
Though this technology is relatively new and is still years away from being perfected, there is no question that it is a case of “when”, not “if” it happens.
Quantum computers, as opposed to today’s technology that powers laptops and smartphones, can solve highly-complex statistical problems that today’s computers simply cannot.
The capabilities of quantum computing are expected to affect myriad applications and industries, from finance and transportation to industry.
However, the worry in the world of crypto is not what this technology can do, but how it could be exploited by hackers and cybercriminals.
Hackers Already Harvesting
The problem lies in the fact that hackers are already harvesting data from blockchains – a fact cybersecurity experts acknowledge is happening.
The hope of these sinister elements is that when quantum computing reaches maturity, the technology will be so advanced that it will allow them to break even the most heavily-encrypted data.
It is a threat the likes of Ethereum, the world’s second-biggest cryptocurrency platform, are taking very seriously.
While Ethereum price USD is steady if not brilliant, it is widely viewed by institutional investors as a major player over the next decade.
It performs well across on-chain activity, technological advancement and traditional finance access – a genuine “triple threat” in a market that is notoriously volatile.
Because of its strong ecosystem, analysts feel that it could be fertile ground for hackers in the age of quantum computing.
PQ Strategy Takes Shape
The good news is that Ethereum has been preparing for such attacks for some time already.
A researcher at the Ethereum Foundation, Justin Drake, recently took to X explaining that his team had been conducting research and development (R&D) on post-quantum (PQ) security since 2019.
He said their long-term quantum strategy had now reached an inflection point.
“After years of quiet R&D, EF [Ethereum Foundation] management has officially declared PQ security a top strategic priority. Our journey began in 2019, with the ‘Eth3.0 Quantum Security’ presentation at StarkWare Sessions. Since 2024, PQ has been central to the vision. The pace of PQ engineering breakthroughs since then has been nothing short of phenomenal. Time to go full PQ,” he wrote in the post.
Powerful Message
Though Drake’s update features on social media, it will offer some reassurance to institutional investors.
Quantum computing will not come of age anytime soon, so to know that a major crypto is already shoring up its systems to counteract future attacks will instil confidence.
These measures also make it clear that Ethereum has recognised that it will have a major role to play in the world of finance in the future.
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