Bitcoin Faces Governance Speed Issues Amid Quantum Computer Threats

The cryptocurrency market is facing threats from quantum computers. Experts analyze that decentralized cryptocurrencies like Bitcoin and Ethereum are likely to be the first targets of attacks. As warnings continue that quantum computers could undermine existing encryption systems, a larger variable than technology is pointed out to be 'governance speed.' Deutsche Digital Assets, a German digital asset management firm, stated that the vulnerability of cryptocurrencies lies in the governance speed that demands rapid responses. Traditional financial institutions can quickly upgrade encryption systems through procedures like board resolutions, but Bitcoin requires consensus from participants worldwide. The Bitcoin network requires over 90% consensus from miners for major changes, and in the past, hard forks occurred due to disagreements during the 'SegWit' upgrade. Researchers warn that future quantum response upgrades will also involve significant time and conflict. The threat of quantum computers does not arise after a specific point in time but can gradually materialize based on real-time decryption possibilities. Therefore, the key for the cryptocurrency market lies not in the speed of technological advancement but in how quickly it can respond to changes.

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