Recent concerns about advancements in quantum technology have become a significant and widely debated topic in the cryptocurrency market.
While it was stated that this issue is important and requires immediate action, one organization claimed that XRP is better protected against quantum computing threats than Bitcoin.
According to Coindesk, an XRP Ledger validator argues that XRP is better protected against quantum computers than Bitcoin (BTC).
At this point, Vet, an XRP Ledger validator, stated that the XRP architecture is more secure than Bitcoin, even compared to quantum computers.
Vet stated that the security vulnerability stemming from quantum technology resulted from the disclosure of public keys during fund transfers.
These transfers could theoretically allow a quantum computer to obtain the private key and steal the assets.
At this point, according to Vet’s analysis, an estimated 2.3 million to 7.8 million Bitcoins, or 11% to 37% of the total circulating supply, are considered “quantum vulnerable” due to the direct disclosure of their public keys.
Furthermore, securing these funds requires moving them to a new address; this process briefly exposes the public key, creating an opportunity for a quantum attack.
In response, Vet stated that only approximately 21 million XRP, or 0.03%, of the circulating supply has public keys. At this point, Vet reported that based on on-chain analysis, no funds were ever sent from approximately 300,000 XRP Ledger accounts. This implies that the public keys for these accounts were not disclosed.
Vet analysis also reveals that XRP Ledger (XRPL) is relatively more secure against such threats, as it allows for the change of an account’s signing key without moving the underlying funds.
*This is not investment advice.
