TechFlow reports that on July 22, crypto financial services company Galaxy Digital announced the establishment of a $5 million "Bitcoin Quantum Readiness Initiative" fund to fund developers to research and deploy protection solutions against future quantum computing risks, focusing on quantum-resistant signature mechanisms, wallet migration tools, and security audits.
The report noted that although quantum computing is not yet sufficient to threaten the Bitcoin network, related technological advancements have driven the industry to proactively prepare quantum-resistant cryptography standards. According to CryptoQuant research, if Bitcoin's existing encryption system is breached by quantum computing in the future, approximately 6.9 million bitcoins may be at risk.
