Coinbase is proactively preparing for a future threatened by quantum computing, today establishing an Independent Advisory Board on Quantum Computing and Blockchain comprised of leading experts from Stanford and the University of Texas at Austin. The move acknowledges the potential for large-scale quantum computers to undermine the cryptographic foundations of blockchains like Bitcoin and Ethereum, demanding preemptive action. “At Coinbase, security is our highest priority, and preparing for future threats, even those many years away, is crucial for our industry,” says Yehuda Lindell, Coinbase Head of Cryptography. The board, featuring researchers like Professor Scott Aaronson and Professor Dan Boneh, will publish position papers and issue recommendations to safeguard the crypto ecosystem against long-term quantum risks, marking a significant step towards bolstering blockchain resilience.
Quantum Computing Threatens Current Blockchain Cryptography
The foundations of modern blockchain security are facing a potential disruption from the rapid development of quantum computing, demanding proactive measures from the cryptocurrency industry. “Preparing for that future requires collaboration across disciplines, rigorous cryptographic research, and proactive planning well before quantum computers become practical,” notes Coinbase, who are establishing an Independent Advisory Board to address this emerging threat. Coinbase is already implementing “product enhancements today,” including updates to Bitcoin address handling and internal key management, to bolster existing protections.
This initiative extends to long-term cryptographic research, specifically advancing support for post-quantum signature schemes like ML-DSA within secure multiparty computation systems. The company’s post-quantum roadmap emphasizes independent oversight, with the newly formed Advisory Board tasked to guide both Coinbase and the wider crypto ecosystem. The board’s first position paper, due in the coming months, will establish a baseline assessment of quantum risk.
Coinbase Advisory Board: Experts in Quantum & Blockchain
The initiative recognizes that advancements in quantum computing pose a future, yet significant, threat to the cryptographic foundations of digital assets. Justin Drake, a researcher at the Ethereum Foundation, and Professor Sreeram Kannan, founder of EigenLayer, also contribute their expertise. The board’s mandate encompasses publishing position papers and issuing recommendations for safeguarding against long-term quantum risks. This proactive approach complements Coinbase’s post-quantum roadmap, including product enhancements and long-term cryptographic research into schemes like ML-DSA.
By bringing together the foremost experts in the world, Coinbase is ensuring that the blockchain ecosystem is prepared, not just reactive.
ML-DSA & Bitcoin Updates Drive Post-Quantum Roadmap
This initiative acknowledges that while current blockchains like Bitcoin and Ethereum are secure, advancements could “weaken or break” their foundations, according to company statements. The board will publish position papers, issue recommendations, and provide real-time analysis of quantum computing breakthroughs, ensuring proactive guidance for the industry.
