Proposed Solutions and Preparations
The crypto industry is not standing still in the face of potential quantum threats:
Post-Quantum Cryptography: Researchers are developing new cryptographic algorithms designed to be resistant to attacks by quantum computers.
Ethereum's Approach: Ethereum co-founder Vitalik Buterin has suggested that a "hard fork" could be implemented to subvert a quantum attack. However, experts like Marek Narozniak caution that such a fork would be complex and could have significant implications for network performance and gas fees.
Proactive Measures: Many in the industry advocate for implementing quantum-resistant cryptography before a practical quantum threat emerges, to avoid the need for reactive measures.