Binance founder Changpeng Zhao said cryptocurrencies can withstand quantum computing threats by upgrading to post-quantum encryption, dismissing fears of an existential collapse.
He said there is “no need to panic,” arguing that networks only need to transition to quantum-resistant algorithms as computing capabilities evolve.
“Crypto networks only need to upgrade to post-quantum algorithms to cope with the impact of quantum computing,”
Zhao said.
Zhao acknowledged the transition will be complex, warning it could trigger network forks, introduce vulnerabilities and require users to migrate assets to new wallets.
He added that inactive or poorly maintained projects may fail to upgrade, suggesting quantum pressure could “clean up” weaker parts of the market.
Zhao also raised concerns about dormant Bitcoin holdings, suggesting long-inactive wallets, including those linked to Satoshi Nakamoto, may need to be locked or destroyed to prevent future quantum-era hacks.
The comments come as researchers estimate up to 5 million Bitcoin could be vulnerable to quantum attacks in older address formats, though experts say the threat remains years away and manageable with phased upgrades.
At the time of reporting, Bitcoin price was $68,189.88.