Quantus, Midnight, and seven other blockchain firms have formed a Quantum Alliance to fast-track post-quantum readiness across the industry.
According to Christopher Smith, Founder and CEO of Quantus, the plan is to standardize post-quantum products that can easily be adopted across the crypto industry.
He added,
Our intention with the Quantum Alliance is to front-load a lot of the complex decision-making when making post-quantum blockchain products and create standards that others can simply pull off the shelf as the industry migrates.
The work will span migration, zero-knowledge (ZK) proofs, wallet security, and chain interoperability. On each track, the team wants to harmonize rules that can ensure smooth operations as blockchains adopt different post-quantum signatures.
There have been intensified calls for accelerated preparations for the post-quantum era following recent fears that advanced AI may just offer similar threats to quantum computing.
So far, the Quantum Alliance and the BlackRock-backed Bitcoin Security Consortium are the only two groups that have gone public to push for a post-quantum blockchain industry. Earlier this week, Coinbase heightened calls for accelerated phased migration for Bitcoin to avoid falling behind the security push.
So, what’s really at stake?
$2.7T at risk as firms push for post-quantum migration
According to Migration Fail, nearly $2.7T of the crypto market is at risk of a quantum threat. In fact, based on a quantum readiness assessment, Bitcoin has a ‘D’ while Solana and Ethereum have an ‘F’ rating.
Only Quantus and 3 other chains have an A rating because they have already leveraged post-quantum (PQ) signatures. Starknet, which has made considerable progress in its PQ push, has a B rating.
Tron has already announced that it is ready to deploy its network PQ upgrade on the mainnet anytime in Q4 2026.
The rest of the blockchains have issued PQ plans. Some are in the testing phase, while others have no concrete plans at all. Still, some experts believe a working quantum computer could be feasible as early as 2028. Hence, the aggressive push to have most blockchains quantum-ready by 2029.
Whether the deadline will be met remains uncertain. Already, the industry, led by Ethereum founder Vitalik Buterin, is undecided on which post-quantum schemes are safe for long-term applications.
The recent updates show the industry acknowledges the urgency of the quantum threats. However, whether the industry will migrate before 2029 remains unclear.
Final Summary
- Quantum Alliance has been formed to assess the industry’s post-quantum readiness and accelerate migration
- The update comes days after Coinbase urged the industry to begin phased migration.
