Nine crypto institutions form a quantum alliance to address quantum risks.

PANews October 18 news, according to Decrypt, nine blockchain-related organizations announced the establishment of the Quantum Alliance, aimed at developing a unified "quantum-ready" open standard, clarifying and verifying claims of quantum resistance for networks, wallets, and infrastructure, while also establishing migration compatibility rules.

The alliance benchmarks itself against the Internet Engineering Task Force (IETF), with work to be advanced through four groups: blockchain migration, post-quantum zero-knowledge systems, wallet security, and cross-chain compatibility. Founding members span underlying protocols, privacy networks, Rollups, hardware wallets, and security auditing, including Quantus, Postquant Labs, Midnight Foundation, Keystone, Abelian, Hacken, and others. The alliance noted that the elliptic curve signatures currently used by mainstream blockchains have left approximately 6.04 million bitcoins (about 30% of the total supply) in a state of quantum exposure; once public keys are disclosed on-chain, a sufficiently powerful quantum computer could theoretically use Shor's algorithm to derive private keys and steal assets.