Galaxy Digital launches Bitcoin Quantum Security Initiative, offering up to $5 million in developer grants

Odaily reported that digital asset company Galaxy Digital has launched a Bitcoin Quantum Readiness Program, offering up to 5 million USD in developer grants. The initiative will be carried out through Galaxy Research, which has established a Quantum Advisory Committee composed of academic experts.

Galaxy Digital stated that the program will fund work related to post-quantum cryptographic solutions and is expected to start accepting grant applications immediately. The initial members of the Quantum Advisory Committee include Barry Sanders, professor at University of Calgary; Damien Bérubé, MIT Sea Grant Knauss Fellow; and Eran Tromer, professor of computer science at Boston University.

The program addresses what researchers call "Q-Day," when quantum computers may use the Shor algorithm to compromise the elliptic curve cryptography protecting Bitcoin by deriving private keys from exposed public keys, forging signatures, and extracting wallet assets. Old addresses and frequently reused addresses are at higher risk. In May, quantum security company Project Eleven reported that quantum computers with cryptographic capabilities are more likely to appear before 2033, and possibly as early as 2030, estimating that approximately 6.9 million Bitcoin are in quantum-exposed addresses. In June, a quantum advisory committee from an exchange urged developers to begin migration work and estimated that about 7 million BTC could be vulnerable. (Decrypt)