Scan to download
BTC $77,795.50 -0.34%
ETH $2,320.23 -0.58%
BNB $627.52 -0.65%
XRP $1.41 -1.01%
SOL $85.10 -1.67%
TRX $0.3252 +0.43%
DOGE $0.0978 -0.83%
ADA $0.2473 -2.11%
BCH $447.80 -1.05%
LINK $9.31 -1.37%
HYPE $42.20 +2.55%
AAVE $95.73 +0.24%
SUI $0.9278 -1.97%
XLM $0.1678 -1.48%
ZEC $355.16 +0.61%
BTC $77,795.50 -0.34%
ETH $2,320.23 -0.58%
BNB $627.52 -0.65%
XRP $1.41 -1.01%
SOL $85.10 -1.67%
TRX $0.3252 +0.43%
DOGE $0.0978 -0.83%
ADA $0.2473 -2.11%
BCH $447.80 -1.05%
LINK $9.31 -1.37%
HYPE $42.20 +2.55%
AAVE $95.73 +0.24%
SUI $0.9278 -1.97%
XLM $0.1678 -1.48%
ZEC $355.16 +0.61%

ethereum

Bitcoin Quantum Security Crisis: 6.9 million BTC exposed to risk, governance challenges hinder response progress

According to CoinDesk, while quantum computers cannot disrupt the Bitcoin mining mechanism or the blockchain ledger, they may potentially crack the elliptic curve encryption system that protects wallet ownership through Shor's algorithm. Currently, about 6.9 million BTC (approximately one-third of the total supply) face potential risks due to public keys being visible on-chain, including around 1 million early holdings by Satoshi Nakamoto; transactions generated after the Taproot upgrade in 2021 are also affected due to public key exposure.Ethereum has established a formal quantum resistance migration plan since 2018, with 4 full-time teams and over 10 independent development groups, and has launched a dedicated progress website at pq.ethereum.org. In contrast, Bitcoin currently lacks a unified response roadmap, and the existing BIP-360 proposal and BitMEX Research detection scheme have not received widespread support from core developers. Notable Bitcoin advocate Nic Carter pointed out that Bitcoin's response is "the worst," while Blockstream CEO Adam Back believes that current quantum systems are still in the laboratory stage, but he also agrees that optional upgrade solutions should be deployed in advance.Analysts point out that Bitcoin's anti-centralization governance culture makes coordinating large-scale security upgrades extremely difficult, and how to handle historical legacy issues such as Satoshi Nakamoto's holdings is particularly challenging. A related paper from Google warns that once quantum attacks become a reality, the window for response may have already closed.

Bitcoin and Ethereum options with a nominal value of 9.87 billion USD will be settled upon expiration

Greeks.live macro researcher Adam posted on platform X to announce options expiration data: 1. 109,000 BTC options expired, Put Call Ratio was 0.93, maximum pain point at $72,000, notional value of $8.55 billion. 2. 563,000 ETH options expired, Put Call Ratio was 0.72, maximum pain point at $2,200, notional value of $1.32 billion.This week the market continued to rebound, with Bitcoin strongly breaking through $78,000. The Web3 conference in Hong Kong was also filled with a joyful atmosphere of rising prices, and altcoin markets are warming up. This is a monthly expiration, with 25% of options set to expire. In terms of holding period, the distribution of open contracts in the options market shows 12% at the end of May and 24% at the end of June. From the main options data, Bitcoin's main term implied volatility (IV) has continued to decline this month, with most term IVs dropping by 1% to 2%, falling below 40%, while ETH's main term IV has decreased even more, currently around 60%.Despite the price increase, the Skew has retreated, and the market does not exhibit FOMO sentiment. In the second quarter of this year, Bitcoin performed significantly better than in the first quarter in terms of both price and popularity. This month's continued rebound is a sign of capital inflow; if macro pressures bottom out by mid-year, then Bitcoin's bottom will also be confirmed.
app_icon
ChainCatcher Building the Web3 world with innovations.