Cryptocurrency might need significant changes sooner than expected. Charles Hoskinson, the founder of Cardano, highlighted a proposal called Bitcoin Improvement Proposal BIP-361 as a way to update Bitcoin users’ wallets. This would involve moving them from older, less secure addresses to newer ones that are designed to withstand attacks from quantum computers.
At the Consensus Miami conference, Charles Hoskinson warned that the time to get ready for upcoming changes might be shorter than many in the industry believe.
A Deadline The Industry Cannot Ignore
Charles Hoskinson estimates there’s a greater than 50% chance a powerful quantum computer will be available before 2033. He believes such a machine could break the security that currently protects digital wallets, private keys, and transactions on most popular blockchain networks.
If this were to occur, malicious individuals could gain unauthorized access to digital wallets, create fake transaction approvals, or interfere with the way blockchains operate. He made it clear: this is an issue that needs to be addressed now, not left for future generations.
Hoskinson Says There’s Over a 50% Chance Quantum Systems Could Threaten Digital Security by 2033
Charles Hoskinson, the creator of Cardano, recently stated at the Consensus Miami conference that there’s a greater than 50% probability that powerful quantum computers capable of breaking current security measures will emerge. This information was reported by Crowdfund Insider.
— Wu Blockchain (@WuBlockchain) May 16, 2026
Currently, the majority of blockchains, including Bitcoin, use standard encryption that isn’t equipped to handle the challenges posed by quantum computers.
These systems function by creating mathematical challenges that are incredibly hard for regular computers to handle. However, a powerful quantum computer could solve those same problems much faster.
Cardano’s Quantum Defense Plan
Cardano is proactively addressing future challenges. Charles Hoskinson has stated that the network is already researching quantum security, collaborating with partners and working towards defined technical objectives.
The primary emphasis is on lattice-based cryptography, an encryption method that is much more resistant to attacks from quantum computers than traditional methods.
Cardano is planning to upgrade its security by using new federal standards – called FIPS 203 through 206 – designed to shield digital systems from potential attacks by future quantum computers.
Hoskinson explained that updating Cardano with these changes should be easy. The network already has a system for yearly upgrades, allowing new security features to be added without causing significant problems.
Crypto Faces A Longer Road
The future for Bitcoin is less certain. While a proposal called BIP-361 suggests a gradual shift to wallet addresses that can withstand quantum computing attacks over several years, Bitcoin’s upgrade process is slower and often involves more disagreements than Cardano’s.
Hoskinson admitted it would be challenging, but believes a major system change is possible. He explained that Cardano is well-positioned to make a similar shift because of how its upgrades are already designed.
It’s still unclear if Bitcoin can scale quickly enough to meet future demands, and the entire crypto industry may soon need a definitive answer.
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2026-05-17 23:57