Cardano (ADA) has been listed among the most prepared blockchain networks for future quantum computing threats, securing the second spot in a research paper published by Google Quantum AI, a research team from Google, and presented by a Cardano community member, dori, in a recent tweet.
Source: dori’s X Post
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Algorand Leads, Cardano Follows Closely
In the report, Algorand is ranked first, with the blockchain being the only one ahead of Cardano in terms of quantum readiness. The networks were tested based on important criteria, which included the frequency of exposure to public keys, the ability to rotate keys, and the speed of confirming transactions.
According to the findings, the Algorand system has already tested its quantum-resistant transactions in a live setting and has the capacity to rotate keys. This implies that the system already has an infrastructure to help its users transition to safer cryptographic systems.
Crypto Security Threat Before 2029
In the same report, Google Quantum AI warned that “quantum computers might be closer to breaking the encryption systems of popular cryptocurrencies like Bitcoin and Ethereum than people think.” The new estimate indicates that action may be required before 2029.
The study further indicated that an efficient quantum computer had the potential to break the security of Bitcoin in under nine minutes. In another study, it was indicated that Ethereum was vulnerable to various security threats, with up to $100 billion in digital assets at risk.
Why Cardano Stands Out?
Cardano is viewed as more secure compared to other blockchains due to the longer period that the public keys are kept hidden. Cardano utilizes an extended UTXO referred to as eUTXO. The keys are maintained in an encrypted state until the time when the transaction is made.
The other blockchains that fall into the same category as Cardano are Dogecoin, Zcash, and Bitcoin Cash. The blockchains were referred to as “tier 2” and have a number of advantages over other blockchains regarding potential quantum risks.
Google Warns: Quantum Threat to Crypto Grows
XRP Ledger, Litecoin, and Bitcoin were classified as “vulnerable but preparing” since their public keys are exposed. Ethereum and Solana, on the other hand, are classified as having the widest surface for attacks since their keys are always exposed.
Google Quantum AI stressed the need to upgrade one’s systems now rather than waiting for quantum threats to manifest. The report indicates that preparation at an early stage could play an important role in protecting one’s digital assets over time.
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