Galaxy Digital has launched a large-scale Bitcoin Quantum Readiness Initiative program to prepare the first cryptocurrency for potential threats from quantum computing. Up to five million dollars will be allocated for grants to developers and researchers. The program includes four priority areas: the development of quantum-resistant transaction types, the introduction of post-quantum digital signature schemes, the creation of migration tools for wallets, and conducting security audits of proposed solutions. An advisory board has been formed to evaluate applications and determine research directions, which includes leading experts from the University of Calgary, the Massachusetts Institute of Technology and Boston University.

Although there are currently no cryptographically significant quantum computers capable of hacking current security algorithms, experts note a reduction in the expected time of their appearance. The main risk is associated with wallets whose public keys have already been disclosed on the blockchain. According to estimates by the Coinbase advisory board, up to seven million bitcoins may be potentially at risk. Preparation is complicated by the decentralized nature of network management, as any protocol update requires careful development, testing, and broad consensus among ecosystem participants, which can take several years.

Two proposals to change the protocol are being actively discussed in the development community. The first suggests a new type of exit that is resistant to prolonged quantum attacks, the second describes a phased migration and gradual abandonment of vulnerable types of signatures.