Bitcoin Magazine
The Quantum Issue: Letter From The Editor
Quantum this, quantum that…who put a stupid cat on-chain!?
Ahem.
Let’s get serious now. The potential danger that a working, fully functioning quantum computer would present to Bitcoin is a very grave matter. It stands as a concrete illustration of an existential threat in every possible sense.
A foundational pillar of Bitcoin is the reliance on a functioning cryptographic system capable of generating unforgeable signatures. This means that by properly adhering to the protocol’s signing rules, nobody other than the true owner can generate the signature required to spend funds—unless that rightful owner fails to safeguard their private key from theft.
Quantum computers completely shatter that guarantee. The integrity of the entire authentication mechanism, which enables owners to prove ownership so the protocol processes only legitimately authorized transactions, would be destroyed. Within the framework of the Bitcoin protocol, true ownership ceases to exist if that core assumption fails.
Bitcoin breaks if that assumption breaks.
Fortunately, a variety of cryptographic systems exist, and not all of them depend on assumptions that a quantum computer can break. That represents the bright side. The downside is that everything involves trade-offs, none of the options are perfect, and difficult decisions lie ahead.
Nevertheless, solutions exist for nearly every challenge a viable quantum computer would introduce—aside from the hurdle of deciding which solutions to adopt. Consequently, this brings us to The Quantum Issue.
This edition features much more structure than most previous issues, designed to guide readers through the entire problem and solution landscape without requiring prior background knowledge, given how deep and technical the topic is.
The initial collection of articles explores the broader topic of quantum computing, detailing how it differs from classical computing, why those differences matter, and the likelihood of such a computer being developed soon.
The second section looks closely at Bitcoin’s vulnerability. It addresses how Bitcoin is exposed, the severity of that exposure, and how that level of exposure can shift.
The third group of articles investigates practical solutions—or those advanced enough to become practical soon—for protecting your bitcoin against quantum threats and managing a network-wide transition to those defenses.
Don’t miss your chance to own The Quantum Issue — featuring articles written by many influential figures in the space working on the necessary pieces for a post-quantum Bitcoin!
This piece is the Letter from the Editor featured in the latest Print edition of Bitcoin Magazine, The Quantum Issue. We’re sharing it here as an early look at the ideas explored throughout the full issue.
FAQ
What is The Quantum Issue?
It is a structured print edition of Bitcoin Magazine exploring the existential threat of quantum computing to Bitcoin and potential post-quantum solutions.
Why is quantum computing a threat to Bitcoin?
A functioning quantum computer could break the cryptographic assumptions used to create unforgeable signatures and authenticate legitimate ownership.
Are there solutions to the quantum threat?
Yes, alternative cryptographic systems exist, though they involve trade-offs and difficult choices regarding network-wide migration.
Does the issue require prior technical knowledge?
No, the issue is structured to guide readers through both the problem and solution spaces without assuming any prior understanding.
