Coinbase has issued a stark warning that quantum computers capable of breaking blockchain cryptography will inevitably be built, urging immediate industry action despite a likely decade-long timeline. The exchange's report reveals dramatic preparedness gaps, with Algorand and Aptos emerging as frontrunners while most major networks lag dangerously behind in quantum-resistant upgrades.

Ethereum and Solana face greater exposure

Other significant networks were identified as having higher dangers, especially proof-of-stake chains like Ethereum and Solana.

According to the paper, once quantum computing reaches a large enough scale, the signature systems used by validators on those networks may become targets.

Nevertheless, both networks are making progress.

On the basis of that improved mechanism, Solana has implemented a new signature scheme that enables users to move their tokens to a new address.

A roadmap for the next release of quantum-resistant signature enhancements has been created by Ethereum’s developers.

The board suggested that users switch to quantum-safe wallets in the long run. It also brought up the prospect that unmigrated assets would eventually need to be revoked in order to stop a quantum attacker from using them.

Coinbase urges action as new quantum infrastructure takes shape

New infrastructure is also being built to meet these concerns.

The Swiss-based QoreChain Association recently launched a production-grade testnet that uses NIST-standard post-quantum signatures, specifically a standard called Dilithium-5.

Most existing blockchains rely on elliptic-curve cryptography, which a sufficiently powerful quantum computer could crack.

QoreChain’s setup instead uses Federal Information Processing Standards, known as FIPS, for both signatures and key exchange.

Coinbase’s report drew a clear line between networks that have made real technical changes and those that have only made promises.

Algorand and Aptos have already adjusted their underlying data structures to support NIST-standard signatures today. Other chains are still at the planning stage.

For older networks, this vulnerability poses a form of covert security risk, the research cautioned.

Large asset transfers on a network like Ethereum could be expensive and time-consuming if the quantum timeframe proceeds more quickly than anticipated, while on Aptos, it might only take a single key change.

In light of this, Coinbase urged all blockchain teams to develop migration strategies now, far in advance of the threat materializing.

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