Growing advances in quantum computing are prompting cryptocurrency companies to accelerate preparations for a future in which today’s encryption methods may no longer be sufficient to protect blockchain networks and digital assets.

Quantum technology has the potential to solve mathematical problems far beyond the capabilities of traditional computers, creating the possibility that existing cryptographic systems could eventually be broken. That presents a significant long-term challenge for the cryptocurrency market, which relies on established encryption techniques to secure wallets and validate transactions.

Industry concern increased following research released…