Justin Sun on Quantum Threat: Market Severely Underestimates the Potentially Devastating Impact of Q-Day on Bitcoin Price
BlockBeats news, October 16 - Justin Sun recently discussed the potential threat of quantum computing to the crypto industry in an interview, stating, "Mathematics is extremely critical to the crypto industry, and currently everyone is focused on quantum attacks. TRON is advancing the implementation of NIST (National Institute of Standards and Technology) post-quantum encryption standards to make the blockchain resistant to quantum attacks. This technology is already live on the testnet and is expected to be deployed on the mainnet as early as the beginning of next year.
Many people severely underestimate the destructive power of Quantum Threat Day (Q-Day). Most people in the crypto industry have no idea how slow it is for the Bitcoin network to reach consensus. I entered the Bitcoin community back in 2012, and the technological progress of the entire community is extremely slow. Even if the entire network clearly knows that a disaster will definitely happen in two years, getting the entire Bitcoin network to reach consensus and complete an upgrade within just two years is almost an impossible task.
Fund managers at large American financial institutions like BlackRock simply haven't spent enough time studying this matter. In their traditional mindset, this might be like a bug in the Apple phone system, and two minutes later Apple officially releases a system update patch, everyone clicks to upgrade, and the problem is solved. But the technological evolution of underlying public blockchains is completely different from that. These institutions have invested tens of billions of dollars into it, but they don't truly participate in Bitcoin's development, don't understand the underlying technology, and don't care how it evolves on a technical level—just like a fund manager who bought Apple stock won't study the underlying iOS system code every day. Quantum Threat Day will absolutely be a huge problem, and the market severely underestimates the potentially devastating impact of Q-Day on Bitcoin's price."
