Galaxy sets up $5 million fund to help shield Bitcoin against quantum computing threats
Galaxy has launched a $5 million fund to support the development of quantum-resistant cryptography for the Bitcoin network. This initiative aims to address long-term security vulnerabilities as quantum computing technology advances, potentially threatening current blockchain encryption standards.
The crypto financial services company said it will begin accepting applications for the Galaxy Bitcoin Quantum Readiness Initiative immediately, with grants focusing on developing quantum-resistant signature schemes, wallet migration tools and security audits. The company said it hopes other firms will contribute funding and research to accelerate the transition to quantum-resistant cryptography.
Get the full story
Sign up for Headlinne to unlock AI insights, political bias analysis, and your personalized news feed.
Create free accountAlready have an account? Sign in