The Blockchain Industry Can’t Afford Complacency in Preparing for Quantum Computing
Blockchain’s cryptographic security has long been its greatest strength, but could it soon become its Achilles’ heel? The era of quantum computing, once a distant dream, is drawing closer with advancements like Google's Willow quantum chip.
The quantum computer recently broke new ground by reducing qubit error rates and solving complex calculations in a matter of minutes—a feat that would take classical supercomputers 10 septillion years While quantum computers aren’t yet a direct threat to blockchain cryptography, dismissing their potential impact as a problem for the future would be a serious mistake.
The blockchain industry must seize this moment to fortify its defences, ensuring resilience before quantum systems reach the capability to crack cryptographic foundation.
Quantum Computing’s Limited Current Impact
While Google’s 105-qubit system has surpassed the capabilities of supercomputers, quantum computing’s current qubit count remains a far cry from the millions needed to break encryption. High error rates and technical challenges further hinder their ability to execute cryptographic-breaking algorithms reliably. For now, industry-wide cryptographic algorithms like RSA and ECDSA remain secure, and practical quantum threats are likely a decade away due to ongoing hurdles with qubit stability and error correction.
However, quantum computing could also affect hash functions, another cryptographic primitive widely used in the blockchain community. Hash functions generate fixed-size outputs (or “hashes”) from input data, ensuring data integrity. “Finding collisions,” or identifying two inputs that produce the same hash, could compromise critical operations such as transaction validation and proof of work.
While existing quantum capabilities cannot yet exploit these vulnerabilities, it remains uncertain what number of qubits and fidelity levels are required for quantum computing to effectively breach these defences. This makes it difficult to predict when quantum computing might threaten current cryptographic systems. Proactive research is thus imperative: blockchain’s reliance on hash functions makes their security integral to overall system integrity.
Zero-Knowledge Proofs: Bridging the Present and Future
Zero-knowledge proofs (ZKPs) offer a pragmatic solution to quantum risks. Algorithms like ZK-STARKs, which rely on hash-based systems such as BLAKE2 and Keccak, are inherently resistant to quantum attacks as long as the parameters of the hash function are chosen appropriately to defend against them. Unlike blockchain’s signature and encryption schemes which are vulnerable to quantum breakthroughs, these algorithms depend on collision resistance, a property quantum computers are less likely to exploit.
ZKPs not only provide quantum resilience but also enhance blockchain usability. They support privacy-preserving features for applications in finance, healthcare, and identity verification, making them indispensable even today. Furthermore, ZKPs serve as a bridge, enabling blockchain systems to transition from current cryptographic standards to quantum-resistant frameworks without a complete overhaul.
Collaboration and Standardisation
Addressing quantum risks will require industry-wide collaboration. Organisations like the National Institute of Standards and Technology (NIST) are already working on standardising quantum-resistant cryptographic algorithms. Ethereum’s Verge roadmap, which is committed to simplifying block verification for validators, also marks a positive step toward improving quantum resistance through hardware acceleration and efficient proof systems.
However, the blockchain industry must engage more actively with these initiatives. Creating interoperable, robust solutions that align with global standards will ensure that quantum resilience does not come at the cost of usability or innovation. This collective effort will be key to maintaining blockchain’s trustworthiness in a post-quantum world.
A Balanced Approach to Adoption
The current state of quantum computing provides an opportunity for thoughtful preparation rather than rushed overhauls. The gradual integration of quantum-resistant technologies, combined with modular upgrades to existing infrastructure, ensures blockchain networks can adapt seamlessly over time.
This measured approach allows for cost-effective scaling while minimising disruption. Investing in R&D for quantum-resistant systems today ensures that blockchains remain operationally efficient and secure as quantum technologies evolve.
Preparing for the Quantum Era
Quantum computing may not yet pose an immediate threat, but the blockchain industry cannot afford complacency. Breaking cryptographic standards like RSA or ECDSA will eventually become feasible as quantum systems mature, and this timeline depends on overcoming technical barriers such as qubit coherence and error rates.
By embracing proactive measures like ZKPs, hardware innovations, and global collaboration, the blockchain industry can safeguard its future without succumbing to alarmism. The goal is readiness, not fear, ensuring that blockchain technology remains resilient, trustworthy, and efficient in the face of emerging challenges.
Leo Fan is the Co-founder of Cysic, a real-time ZK Proof Generation and Verification layer 1, and an Assistant Professor of Computer Science at Rutgers University. His research focuses on cryptography, zero-knowledge proofs, and blockchain infrastructure.