Nine crypto organizations form quantum alliance to address quantum risks

PANews reported on October 18, citing Decrypt, that nine blockchain-related organizations announced the formation of a quantum alliance, aiming to establish unified "quantum-ready" open standards, clarify and verify quantum-resistance claims for networks, wallets, and infrastructure, while also setting migration compatibility rules.

The alliance is modeled after the Internet Engineering Task Force (IETF), and its work will be advanced through four working groups: blockchain migration, post-quantum zero-knowledge systems, wallet security, and cross-chain compatibility. Founding members span areas including underlying protocols, privacy networks, Rollups, hardware wallets, and security auditing, including Quantus, Postquant Labs, Midnight Foundation, Keystone, Abelian, Hacken, and others. The alliance noted that the elliptic curve signatures used by mainstream blockchains have left approximately 6.04 million bitcoins (about 30% of the total supply) in a quantum-exposed state. Once a public key is exposed on-chain, a sufficiently powerful quantum computer could theoretically use Shor's algorithm to reverse-engineer the private key and steal the assets.