Google Plans to Transition to Post-Quantum Cryptography by 2029

The company emphasized that quantum computers will pose a significant threat to existing cryptographic standards. In particular, issues extend to encryption and digital signatures. The team associated with the Ethereum Foundation also intends to implement quantum-resistant solutions at the Ethereum protocol level by 2029.

A quantum computer could become a threat to the crypto industry after 2030. Exodus (a cryptocurrency wallet) CEO John Paul Richardson noted that it is necessary to transfer 6.5 million BTC ($443.8 billion) due to this. These are stored at addresses vulnerable to quantum attacks, including 1.1 million BTC ($75.1 billion) belonging to Satoshi Nakamoto.