The rise of quantum computing poses a substantial threat to operational cryptographic infrastructures upon which all blockchain security relies. With quantum algorithms such as Shor’s algorithm, existing widely used cryptographic primitives (RSA, ECC, etc.) will be broken and the integrity and/or privacy of the blockchain network will be compromised.

How urgently migration is needed, depends on the speed of quantum technology development. Most estimates are that it will take another 10 to 30 years before practical, large-scale quantum computers will be able to break our existing cryptography; however, we do not know of how advances in the field will progress and we might be in the midst of a breakthrough in the timeline.

To protect blockchain assets and transactions, we must start transitioning to quantum-resistant algorithms now. It is important to keep a keen eye on quantum threats and migration options for reducing vulnerabilities before quantum computers pose a serious threat. We also need to look at ways to implement post-quantum cryptography, when the time comes, but research and testing capability should be a priority.

In conclusion, a move to quantum resistance does not have to happen right away; it should be a global awareness to move in that direction in the next decade or two. Being early adopters of quantum-resistant protocols in a post-quantum world will allow trust to continue.