Google researchers estimated that a sufficiently advanced quantum computer could break widely used 256-bit elliptic-curve cryptography in minutes, directly threatening crypto wallets and financial security infrastructure. NIST aims to phase out vulnerable algorithms by 2035, the US is allocating billions for the post-quantum transition, and Ethereum targets core post-quantum protections around 2029. An estimated 1.7 million BTC sit in early addresses where public keys are already exposed, leaving those coins potentially vulnerable if quantum computers become powerful enough before networks complete their migration. Migration costs include cryptographic inventory, hardware replacement, running classical and post-quantum systems in parallel, reauditing, and on-chain transaction fees to move assets at post-quantum signature sizes. Experts emphasize that multiparty computation provides zero quantum resistance by itself, since a quantum computer derives the private key from the public key alone without needing to compromise any of the parties.
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