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Opinion: Quantum computing could crack lost Bitcoins, challenging scarcity narrative
Editor
2024-12-26 07:02 10,411
Golden Finance reports that advances in quantum computing technology may redefine the traditional concept that Bitcoin’s “lost coins” cannot be recovered. The article points out that some early-generation and long-abandoned wallets (such as Satoshi Nakamoto's wallet) may be at risk due to quantum computing breaking through old encryption technologies because their owners are unable to migrate their keys to more secure encryption algorithms. This may put some Bitcoins thought to be permanently lost back into circulation, changing the scarcity narrative. Although Bitcoin developers are able to protect active wallets through protocol upgrades, and the network is adaptable enough to cope with the challenges of the quantum era, old wallets may be more likely to become targets of future attacks, posing a new test for Bitcoin network security.
Keywords: Bitcoin
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