Galaxy Launches $5 Million Bitcoin Quantum Security Initiative

From financefeeds.com

Galaxy has launched the Bitcoin Quantum Readiness Initiative, committing up to $5 million in grants for developers and researchers working on post-quantum cryptographic tools for Bitcoin. The program is designed to address a risk that is not immediate but could become harder to manage if the industry waits too long. Bitcoin relies on elliptic curve cryptography, a system that could eventually be broken by a sufficiently powerful quantum computer. No cryptographically relevant quantum computer exists today, but the expected timeline for reaching that point has been narrowing, according to Galaxy. The initiative ... (full story)