A machine capable of threatening live networks would need to be "orders of magnitude more powerful than anything available today," the paper said.
Crypto News
Coinbase's Independent Advisory Board on Quantum Computing and Blockchain released a position paper on Tuesday assessing how prepared major networks are for future quantum threats, identifying Algorand and Aptos as relatively advanced and warning that proof-of-stake chains carry greater exposure.
The board stated it has "high confidence" that a quantum computer powerful enough to break blockchain cryptography will eventually exist, while placing that outcome at least a decade away. A machine capable of threatening live networks would need to be "orders of magnitude more powerful than anything available today," the paper said.
Algorand was described as among the first networks to have deployed post-quantum cryptography in production. Users can create quantum-resistant accounts on the network without any protocol modifications, and the chain recently completed its first quantum-resistant transaction on mainnet. Block proposals and committee voting mechanisms remain vulnerable, however, and the network is researching ways to address that exposure.
Aptos received similar recognition. Coinbase described it as "well positioned for the transition to post-quantum secure transactions," citing the structure of its account system. On Aptos, a user's address is not derived from a hash of their public key, so switching to a quantum-resistant setup requires only a single transaction updating the authentication key, with no asset migration needed.
Proof-of-stake chains present a different risk profile. The signature schemes validators use on networks including ETH and SOL create exposure that pure key-based attacks on dormant wallets do not, according to the report. Solana has introduced a new signature scheme that allows users to move tokens to an upgraded address and exit that exposure. Ethereum has a stated roadmap to implement quantum-resistant signatures but has not yet completed the transition.
The paper also addressed how networks should handle wallets holding assets that remain quantum-vulnerable if a capable machine is eventually built. The board suggested that blockchains could require users to migrate to quantum-proof wallets, with assets remaining in non-migrated wallets eventually revoked and permanently lost.
Coinbase framed the paper as preparation guidance rather than an immediate alarm. The board acknowledged the gap between current quantum hardware and the capability level needed to threaten live blockchain networks remains wide, but said upgrade work across the industry should begin now rather than wait for the threat to close.
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