While the Bitcoin protocol itself is challenging to modify, developers can create a hard fork to implement quantum-resistant features, addressing the emerging threats posed by quantum computing.

Recent research from Google reveals that quantum computers could potentially require 20 times fewer resources to break RSA encryption, which is vital for Bitcoin's security.

By 2030, it is estimated that a quantum computer with about one million noisy qubits could crack 2048-bit RSA encryption in just a week, a stark reduction from previous forecasts.

To safeguard against quantum threats, organizations should proactively assess their digital assets, consult IT vendors regarding post-quantum roadmaps, and ensure cryptographic agility.

Major financial institutions, including BlackRock, are increasingly recognizing quantum computing as a material risk to Bitcoin-related products, prompting urgent action to address these vulnerabilities.

Experts agree that while the risks from quantum computing are real, the cryptocurrency sector still has time to adapt, as current quantum technology has significant limitations.

Global efforts are underway to standardize post-quantum cryptographic algorithms, with companies like Google already encrypting more internet traffic using quantum-resistant protocols.

Transitioning to quantum-safe encryption will require comprehensive planning, including mapping cryptographic assets and engaging with technology vendors on their post-quantum strategies.

Financial institutions that proactively prepare for quantum threats, such as JPMorgan, may gain a competitive advantage, while those relying on outdated cryptographic standards risk severe repercussions.

While Elliptic Curve Cryptography (ECC) currently offers stronger protection than RSA, it too faces significant threats from quantum computing, which poses a non-linear risk to all public key cryptography.

Although practical quantum attacks are not imminent, the transition to post-quantum cryptography (PQC) will require considerable time and effort, underscoring the need for organizations to act now.

The urgency to adopt post-quantum cryptography is further emphasized by the National Institute of Standards and Technology (NIST), which recommends phasing out vulnerable cryptographic systems by 2030.