Quantum won't kill crypto—but it could accelerate Wall Street's adoption of blockchain

For many in the crypto industry, the specter of quantum computing has become the stuff of existential dread. According to popular doomer narratives, public blockchains like Bitcoin will be among the first target of quantum-based attacks that will wipe out trillions of dollars.

In this view, public blockchains most salient feature, decentralization, is an Achilles heel that will impede the implementation of defensive upgrades to protect from quantum-powered hackers. The doomers argue that networks like Bitcoin, Ethereum and Solana will be helpless against a threat that will one day smash the public-key cryptography that has long made them secure.

This makes for a dramatic story, but the premise is misguided. While the threat is real, the conclusion–that quantum will kill crypto–is simply wrong.

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