Elon Musk Questions Bitcoin Security In The Era Of Quantum Computing, Will It Be Safe?

JAKARTA - SpaceX and Tesla owners, Elon Musk, expressed concern about the future of Bitcoin (BTC) security amid the development of quantum computing technology.

In a post on X, Musk questioned the possible Grok of the SHA-256' algorithm used in the Bitcoin blockchain security system could be broken by quantum computing.

Answering the question, Grok said that based on an assessment from institutions such as NIST, IBM, and cybersecurity experts by 2025, the possibility of SHA-256 being successfully broken into by quantum computing is very small.

"Based on the 2025 assessment of the NIST, IBM, and the survey of experts, it is possible that quantum computing could break into SHA-256," Grok replied to Musk.

Responding to this condition, Indodax as a crypto exchange platform in Indonesia said, currently, there is no direct threat from quantum computing against Bitcoin.

"However, experts predict that the threat could appear in the next five to ten years, depending on the speed of technological development," Indodax explained on its blog.

A number of blockchain developers and cryptographs are also said to have started preparing a new post-quantum cryptography-based security system, to anticipate possible attacks from future quantum computers.

"If this (quantum) technology reaches a large scale, the ability to solve complex cryptographic algorithms would be a serious threat to the entire digital system," he concluded.

Apart from Bitcoin, the company added, various other crypto assets that use conventional encryption systems are also at the same risk.