Google’s recent report on quantum computers had many in the cryptocurrency realm worried. The report stated that a future quantum computer could potentially crack Bitcoin’s (BTC) private keys within minutes, a move that would render the asset and industry useless. However, teams across various crypto projects have begun working on post-quantum security measures. Ripple’s XRP is also working towards quantum computer security measures, which may be ready by 2028. Let’s discuss what may happen.
XRP To Be Secure From Quantum Computers By 2028
According to a report by Ripple, the company is preparing a multi-phased strategy for quantum security on the XRP Ledger (XRPL). The report highlights that XRP already has the building blocks for a transition to post-quantum. The report states, “XRPL supports native key rotation, which means users can move away from potentially vulnerable keys over time.” Moreover, the XRP Ledger utilizes seed-based key generation, which “enables deterministic derivation of new keys.“
Although the above mentioned capabilities are not post-quantum solutions, they provide the building blocks that will enable XRP to transition to a quantum future. The team is working on two aspects in tandem. The first is to preserve XRPL’s strengths today, while working on post-quantum crypto transition. The second is to prepare for contingencies and minimize disruption if quantum computers arrive unexpectedly out of the blue.
Also Read: 3 Cryptocurrencies That Could Be Safe From Quantum Computers
The report notes that “the quantum threat is real, evidenced not only by ongoing improvements to quantum computing hardware and algorithmic resource estimates (e.g. Shor), but also by the fact that NIST has already finalized post-quantum cryptography standards.“
If XRP becomes quantum-ready, the asset could see a giant spike in confidence. The threat from quantum computers may lead to an exodus of investors from the cryptocurrency landscape. The only solution is for projects to begin their quantum journey as soon as possible.
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