Nine Crypto Firms Form Quantum Alliance as 30.2% of Bitcoin (BTC) Supply Has Exposed Keys

Nine crypto firms have formed the Quantum Alliance to develop shared security standards for blockchain networks, as the group estimates exposed public keys are tied to 6.04 million Bitcoin (BTC), or 30.2% of the total supply. The estimate describes potential exposure, not coins that can be taken with today’s computers. Current quantum computers cannot derive the private keys needed to spend coins linked to exposed public keys. The alliance plans to develop security tests and migration guidance for Bitcoin, Ethereum and other networks. Members include Hacken, Midnight Foundation, Quantus and Postquant Labs. The scale of the risk depends in part on where public keys appear.

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