CZ: Upgrading cryptocurrencies to quantum-resistant algorithms can address the impact of quantum computing

CZ posted on platform X that cryptocurrencies only need to upgrade to quantum-resistant (post-quantum) algorithms to cope with the impact of quantum computing, and there is no need to panic.

In terms of practical implementation, there are difficulties in upgrading organizations in a decentralized environment, and the choice of algorithms may spark debates and lead to forks. Some projects that have stopped development may not undergo upgrades, which helps to clean up such projects. In the short term, new code may introduce vulnerabilities or security issues, and users who self-custody cryptocurrencies need to migrate their assets to new wallets.

Regarding the Bitcoin held by Satoshi, if the assets move, it means he is still active; if they do not move within a specific timeframe, the relevant addresses should be locked or destroyed to prevent hacking. Fundamentally, encryption is easier than decryption, and more powerful computing capabilities have positive implications; cryptocurrencies will continue to exist after the quantum era.