Bitcoin Gets Its First Quantum Defensive Measure: Will Price Rise?

There has been a lot of talk about quantum computers potentially breaking Bitcoin’s (BTC) cryptographic security measures. Even Google released a paper earlier this year that highlighted the risk quantum computers pose to cryptocurrencies. However, these worries may be at an end as BTC’s Lightning Network got its first quantum-proof defense. Let’s discuss.

Bitcoin Gets Its First Quantum-Proof Defense

Fed rate hike BTC ETF
Source: Watcher.Guru

Researchers from East Texas A&M University have published Post-Quantum Lightning Network (PQLN) that implements quantum-resistant cryptography onto BTC’s primary layer-2 scaling network. PQLN does not change Bitcoin’s code and runs alongside existing nodes. This could be a game changer for the cryptocurrency sector.

Ethereum (ETH) has also begun working on post-quantum security measures. Solana (SOL) is also preparing for when quantum computers will become a norm. Bitcoin (BTC) was one of the only major cryptocurrency projects without proper safe guards, until now.

Will Prices Surge?

The threat from quantum computers may have led many to question the security of cryptographically secured assets. The publishing of PQLN may change this narrative. Billionaire Kevin O’Leary also said that quantum security is the only thing standing in the way of Bitcoin (BTC) hitting the $1 million mark. If PQLN is successful, O’Leary may get back on the $1 million per BTC bandwagon.

Also Read: Brent Oil Falls Below $100: Will Stock And Crypto Markets Surge?

Bitcoin (BTC) is already showing signs of a recovery, following an oil price dip after Iran’s proposal to open the Strait of Hormuz within one week, given their demand are met. BTC is currently facing resistance at the $87,000 price level. CoinGecko data shows that BTC’s price has risen by 15% in the last week and more than 13% over the last month. The PQLN security measure could further boost investor sentiment and retail players could take long-term positions.

BTC price chart
Source: CoinGecko

However, there are some short term risks. Inflation and interest rates remain high. Risk appetite is still low among investors. While the current rally is commendable, there is a chance that Bitcoin (BTC) may face a retracement soon.

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