Galaxy Launches Bitcoin Quantum Defense Fund
Galaxy has launched a new initiative aimed at preparing Bitcoin for the potential threat posed by quantum computing. The firm, which is spearheaded by cryptocurrency bull Mike Novogratz, has $5 million in grants to fund those developers who are specifically focused on post-quantum security solutions. The Galaxy Bitcoin Quantum Readiness Initiative will support efforts to develop new signature schemes, Bitcoin upgrade proposals, wallet migration solutions, and so on. Bitcoin Quantum Discount Deepens to 30%; XRP Exits ‘Fear Buy’ Zone on MVRV Chart; New Shiba Inu (SHIB) Whale Flees Coinbase With $2.76 Million Fortune – Morning Crypto Report Ripple Veteran on Selling XRP: ‘I Wish I Hadn’t The firm has noted that no quantum computer today can break Bitcoins security, but that could change “faster than expected,” and the Bitcoin community is too conservative to implement a fix fast. The initiative will be built around developer funding, ongoing research through Galaxy Research, and a Quantum Advisory Council composed of experts in quantum computing and cryptography. You Might Also Like “Theres a gap between the quantum computing world, which is moving fast, and the Bitcoin development world, which is just beginning to engage with post-quantum cryptography in earnest,” Alex Thorn, the head of research at Galaxy Digital, said in a