a16z Report: Suggests Blockchains Should Differentiate Their Response to Quantum Computing Threats

According to DeepFlow TechFlow, on December 7, an a16z crypto report titled “Quantum computing and blockchains: Matching urgency to actual threats” states that while quantum computers pose a long-term threat to cryptography, the actual risks are generally exaggerated. The report indicates that the likelihood of “cryptography-relevant quantum computers” capable of breaking modern cryptographic systems emerging before 2030 is extremely low.

a16z recommends deploying hybrid cryptography solutions immediately to address “Harvest Now, Decrypt Later” ((HNDL)) attacks, but states that blockchains do not need to rush to adopt post-quantum signature technologies, as digital signatures are not affected by HNDL attacks.

Bitcoin faces unique challenges due to its slow governance mechanisms and the large number of potentially abandoned quantum-vulnerable coins, making it necessary to plan migration paths early. Privacy chains, which encrypt transaction data, have a more urgent need for post-quantum protection.

The report emphasizes that achieving current security and addressing vulnerabilities are more urgent threats than the distant risk of quantum computing, and provides seven specific recommendations to help the industry respond to quantum challenges.