Coinbase wants to safeguard Bitcoin funds lost to quantum attacks

Coinbase, custodian to roughly 5% of all Bitcoin in existence, is actively preparing for the advent of cryptographically resistant quantum computing. For over 13 years, the company has safeguarded digital assets at scale, and now applies that experience to address this emerging threat to the Bitcoin network, Coinbase says. Coinbase is contributing engineering resources and participating in the Bitcoin Security Consortium, believing that “making Bitcoin secure against this emerging threat involves more than choosing a quantum-resistant digital signature scheme.” This proactive, collaborative approach signals a commitment to the broader Bitcoin ecosystem as the community begins a complex, multi-year migration process. Coinbase emphasizes the need for deterministic, cross-platform verification when evaluating potential post-quantum signature schemes for Bitcoin, a critical factor for ensuring widespread usability and security. The company believes that robust verification processes are paramount, extending beyond simply selecting a quantum-resistant algorithm; they must function consistently across diverse computing environments. The firm’s preparations extend beyond internal system upgrades to include active participation…