A consortium that includes major financial institutions and cryptocurrency companies has been formed to address potential quantum threats to the Bitcoin network.
According to reporting from CoinDesk, the group, which includes BlackRock and Coinbase, is pledging $15 million to prepare Bitcoin for these threats.
The members of the consortium will direct funding independently, with the group itself taking no role in Bitcoin governance or protocol decisions.
This initiative highlights the growing awareness of potential quantum threats to the Bitcoin network and the efforts of major players in the industry to address these risks.