Coinbase is already building quantum-resistant infrastructure for a threat that doesn't exist yet, here's what that actually looks like

[SpinState]

Coinbase has begun preparing its custody systems and broader infrastructure for a future where sufficiently powerful quantum computers could defeat the cryptography protecting Bitcoin, Ethereum and other blockchain networks, based on findings from its Independent Advisory Board on Quantum Computing and Blockchain, a panel that includes Stanford's Dan Boneh, the Ethereum Foundation's Justin Drake and UT Austin's Scott Aaronson among other leading cryptographers. The board expressed high confidence that a fault tolerant quantum computer will eventually be built, while stressing the timeline remains genuinely uncertain, described as at least two major engineering leaps away from today's hardware

Concretely, Coinbase is developing PQ-CoreKMS, a post quantum version of the key management system currently protecting roughly 99.9% of the assets it holds in custody, which today relies on multiparty computation to distribute control of private keys so no single party can reconstruct a customer's full key. Within the next year, the company plans to introduce an automated signing system combining secure enclaves, secret sharing and threshold cryptography to support multiple post quantum signature algorithms as blockchain networks begin adopting them, with plans to expand toward lattice based signing schemes over the following two to three years

Coinbase is also a founding member of the Bitcoin Security Consortium, a $15 million industry initiative supporting open source developers researching Bitcoin's long term security, including proposals like BIP 360, and is bringing Bitcoin developers, cryptographers and researchers together at Stanford in August to work through migration strategies. The report identifies genuinely hard open problems that don't yet have clean answers, larger post quantum signature sizes that could affect blockchain throughput and fees, the lack of efficient post quantum aggregate signatures, and difficult governance questions around what to do with dormant wallets whose owners may never actively migrate their funds to newer, quantum resistant addresses

A Quantum Computer Could One Day Break Crypto Security - Coinbase Is Preparing Nowcryptonews.net