Binance co-founder Changpeng Zhao (창펑 자오), known as CZ, said there is no need to be overly concerned about fears that quantum computers could threaten cryptocurrency security.

On April 1 local time, blockchain outlet BeInCrypto reported that Zhao, in a post on X, suggested upgrading to "quantum-resistant (post-quantum) algorithms" as a countermeasure. He argued: "At a high level, all crypto has to do is to upgrade to quantum-resistant algorithms."

He said coordinating an upgrade on a decentralised network is not easy. Disputes could arise over which algorithm to adopt, and widening differences could lead to chain splits, or forks, on some blockchains, he explained. "Some dead projects may not upgrade at all," he said, adding that new code could create other bugs or security issues in the short term and that self-custody users would need to move coins to new wallets.

Zhao highlighted the holdings of Bitcoin creator Satoshi Nakamoto. Satoshi is estimated to hold more than 1 million BTC that has not moved for decades. Zhao said that if the coins remain dormant until quantum technology matures, the community could consider locking or burning them to prevent future attackers from stealing them. He added that it is difficult to clearly identify Satoshi’s exact addresses by distinguishing them from other early holders. "Encryption is always easier than decryption, and more computing power is always beneficial," he said. "Cryptocurrency will continue to exist after the quantum era."

The remarks came after recent studies suggested that the resources needed to break elliptic curve cryptography, or ECC, could be lower than previously estimated. A white paper from Google Quantum AI suggested the resources required to break ECC could be far less than expected, and research by Caltech and Orotomic said Shor's algorithm could be run at a cryptographically meaningful scale with just 10,000 qubits.

The key issue is how specifically major networks prepare countermeasures in advance, rather than when the quantum threat becomes real. Assets such as bitcoin, which have large networks and are entangled with issues around historical holdings, could see broader discussion as security, governance and market trust intersect.

Saw some people panicking or asking about quantum computing's impact on crypto. At a high level, all crypto has to do is to upgrade to Quantum-Resistant (Post-Quantum) Algorithms. So, no need to panic. In practice, there are some execution considerations. It's hard to…