Ethereum Founder Vitalik Buterin Gives Date for Potential Deadly Threat Facing Cryptocurrencies

Ethereum (ETH) founder Vitalik Buterin has made a remarkable assessment of the potential impact of quantum computers on modern cryptography.

Buterin stated that he sees a 20% probability of this technology being able to break current encryption methods by 2030.

In his statement, Buterin touched on the magnitude of the threat quantum computers pose and its timeline:

“Looking at prediction platforms like Metaculous, it’s estimated that quantum computers will be powerful enough to break cryptography between 2030 and 2035. There’s a lot of speculation out there right now; some companies claim to be developing quantum computers, but in reality, they’re quantum adiabatic computers that don’t even come close to breaking cryptography.”

Buterin also stated that the Ethereum ecosystem is preparing for the quantum threat:

“Justin Drake is working on quantum-resistant signatures. STARKs are already quantum-resistant. Great progress is being made in this area, and I’m optimistic that Ethereum can adapt.”

Ledger CTO Charles Guillemet, while acknowledging the magnitude of the risk, stated that he sees the probability as lower:

Vitalik predicts a 20% chance, but that seems lower to me. The crucial point isn’t the exact probability. NIST has mandated a transition to post-quantum cryptography between 2030 and 2035. We have the necessary tools, but the key is which standards will be implemented and implemented. This is critical not only for blockchain but also for defense, banking, telecom, and identity systems.

Although Guillemet stated that blockchain may face difficulties in the adaptation process due to its decentralized structure, he pointed out the sector’s capacity to move quickly:

“There is no reason to panic, we just need to work in a focused manner.”

*This is not investment advice.