According to Quip Network co-founder Colton Dillian, quantum is a real threat to computing crypto, and slow-moving governance processes leave the blockchain weak, which provides quantum-proof vault to store digital assets.
While technology, which uses quantum states of sub -quantity particles to calculate instead of transistors and binary codes, is still in its early stages, companies including Google and Microsoft are moving with research and development. The target speed is a large -scale step that makes a hard calculation such as cracking encryption, such as used to protect blockchain, faster and simple.
And when quantum computing becomes available, no attacker is likely to announce his presence immediately.
Dillian said in an interview, “This danger will not begin with Satoshi’s key to the theft.” “The real quantum attack will look subtle, calm and gradual, such as whale careless money. By the time everyone knows what is happening, it will be too late.”
Dillian’s Doomsed scenario includes a quantum-computing-operated double-expense attack. In theory, quantum computing can reduce the required mining power for a traditional 51% attack by about 26%, said Dillian said.
“So you have now compromised the 10,000 largest wallets. You rewind the series, liquid those 10,000 largest wallets, then all the transactions double spend, and now you have really found a atom bomb,” how he imagines.
The industry, of course, is working to find a solution.
For example, Bitcoin developer Agustin Cruz proposed Qramp, a bitcoin correction proposal (BIP), which makes a hard-form migration compulsory for quantum-safe addresses. Quantum Startup BTQ has proposed to replace the proof-of-work consensus system that outlines the original blockchain completely with quantum-origin unanimous.
The problem is that proposals should receive community approval. Blockchain governance, such as bitcoin improvement proposal (BIP) and their atherium equivalent, Etharium Improvement Proposal (EIP), disappear with politics, which leads to a long, naturally cautious process.
For example, there were many years in creating the recent resolution of the bitcoin community on the OP_Return function, what the “proper” use of the blockchain is considered with the debate with the developer’s months. Like the merge, the elevation of the atherium also faced long debate and delay.
Dillian argues that the governance process dangerly exposes the crypto as quantum computing will develop very rapidly from the response of the danger protocol.
He said, “Everyone is trying to do this from above by starting with a BIP or EIP and buying everyone together. But we think it is very difficult, heavy lift,” he said.
Quantum-proof vaults of Quip Network aims to bypass political inertia by allowing immediate adoption without the need for protocol upgrade. Vaults take advantage of hybrid cryptography, combining classical cryptographic standards with quantum-resistant techniques to provide blockchain-eighteenth security.
Effectively, they allow whales, large amounts of a cryptocurrency holders, so that the blockchain regime can be secured while waiting for the machineing of the blockchain regime. The Crypto community cannot argue with leisurely, they argue.
“BIP and EIP procedures are great for governance, but are terrible to rapid danger response,” said Dillian. “When the quantum is a hit, the attackers will not wait for community consent.”
Colon Dillon is speaking at the IEEE Canada Blockchain Forum in the unanimous 2025 in Toronto. IEEE is a knowledge partner of consensus.
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