A consortium led by Strategy and joined by BlackRock and others will provide a total of $15 million over the next three years to respond to quantum computing threats surrounding the Bitcoin network.
According to a recent Cointelegraph report, Strategy announced the launch of the "Bitcoin Security Consortium" to support Bitcoin’s long-term quantum security.
The consortium is made up of financial institutions and Bitcoin-related companies. The funding is set to be used to support developers protecting the Bitcoin network in preparation for potential breakthroughs in quantum computing.
Founding members include Anchorage Digital, ARK Invest, BlackRock, Block, Blockstream, Coinbase, Fidelity Digital Assets and Galaxy. Mike Schmidt, executive director of Brink, a non-profit that supports Bitcoin open-source developers, will coordinate operations on a volunteer basis.
Galaxy Digital has also launched separate support. Galaxy Digital said on the 22nd it will provide grants of up to $5 million to developers working on Bitcoin quantum security, and it also formed an advisory committee to study options for a quantum-resistant transition.
Chi-gyu Hwang (황치규)
delight@d-today.co.kr