Quantum IT is a real threat to crypto, and slow-evolving governance processes may leave vulnerable blockchains, according to Colton Dillion, co-founder of Quip Network, which provides quantum test vaults to store digital assets.
While technology, which uses quantum states of subatomic particles to carry out calculations instead of transistors and binary code, is still in its infancy, companies such as Google and Microsoft advance research and development. The objective is a massive speed of speed that makes difficult calculations such as cracking encryption, such as the one used to protect blockchains, faster and simpler.
And when quantum computer science becomes available, it is unlikely that any attacker announces his presence immediately.
“The threat will not start with stolen Satoshi keys,” said Dillion in an interview. “The real quantum attack will have the subtle, calm and progressive look, like the whales in casual moving. As everyone realizes what is happening, it will be too late.”
The Dillion Dillion scenario implies a double expenditure attack supplied by quantum propulsion. In theory, quantum computer science could reduce the mining power required for a traditional attack from 51% to around 26%, said Dillion.
“So now you have compromised the 10,000 largest wallets. You rewind the chain, liquidate these 10,000 largest wallets, then spend double transactions, and now you really have a nuclear bomb”, is the way he imagines it.
The industry, of course, works to find a solution.
The developer of Bitcoin Agustin Cruz, for example, proposed Qramp, a proposal for an improvement in Bitcoin (BIP) which requires a hard fork migration to quantum-security addresses. The BTQ quantum start-up proposed to replace the work consensus system that entirely underlies the original blockchain with a native quantum consensus.
The problem is that proposals must obtain the approval of the community. Blockchain governance, such as Bitcoin improvement proposals (BIPS) and their Ethereum equivalents, proposals for improving Ethereum (EIPS), tends to be prey to politics, which makes it a long and intrinsically cautious process.
For example, the recent resolution of the Bitcoin community on the OP_return function has been years in manufacturing, with months of developers’ debates on what is considered to be the “appropriate” use of the blockchain. Ethereum upgrades, such as merger, also faced long debates and delays.
Dillion maintains that the governance process leaves the crypto dangerously exposed because quantum computer threats will evolve much faster than protocols cannot respond.
“Everyone tries to do this from top to bottom starting with a beep or an EIP and bringing together everyone’s support. But we think it is a very difficult and heavy elevator,” he said.
The quantum Quip Network proforms aim to bypass political inertia by allowing immediate adoption at the level of the user without requiring protocol upgrades. Vaults exploit hybrid cryptography, mixing conventional cryptographic standards with quantum -resistant techniques to ensure the agnostic security of blockchain.
Indeed, they allow whales, the holders of large quantities of a cryptocurrency, to secure their hiding places while waiting for the machinations of the governance of the blockchain to meet. Cryptographic communities cannot afford quiet debates, he maintains.
“BIP and EIP processes are perfect for governance, but terrible for a quick response of threats,” said Dillion. “When Quantum strikes, the attackers will not expect community consensus.”
Colton Dillon is expressed at the IEEE Canada blockchain forum, which is part of the 2025 consensus in Toronto. The IEEE is a partner of knowledge of the consensus.
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