Crypto entrepreneur Nic Carter, founding partner at Castle Island Ventures, has called on Bitcoin developers to accelerate work on quantum resistance, warning that the network risks being overtaken by Ethereum, which already has a formal post-quantum roadmap in place. Carter made the remarks in a post on X on Thursday, stating that elliptic curve cryptography is on the verge of obsolescence. He argued that whether the timeline is three or ten years, the current cryptographic foundation of Bitcoin is effectively finished and the community must accept that reality.
Elliptic curve cryptography is the mathematical system that secures Bitcoin by allowing users to generate a public address from a private key through operations on a curved line. Concerns have grown that sufficiently advanced quantum computers could break this system, exposing funds to theft. ARK Invest noted in a paper published on March 11 that approximately one third of all BTC is at risk from the quantum threat, though it characterized the danger as a long-term concern rather than an immediate one.
Carter contends that the cryptography is currently hardcoded into Bitcoin’s architecture and that an entire reimagining of how these systems function will be necessary. He has previously accused Bitcoin Core developers of ignoring quantum-related proposals, including BIP-360, a Bitcoin improvement proposal aimed at addressing the issue. In his recent post, he described their approach as the worst in class, alleging that developers deny the problem, dismiss community concerns, and refuse to act on feedback when it is provided.
Not everyone agrees with that characterization. Ethan Heilman, a co-author of BIP-360, responded in February that Core contributors have been actively engaging with the proposal. Heilman noted that BIP-360 has received more comments than any other Bitcoin improvement proposal in the history of the process, suggesting the issue is receiving meaningful attention within the developer community. The Bitcoin community remains divided, with some members arguing that altering the cryptographic foundation would violate the network’s core principles.
On the Ethereum side, Vitalik Buterin, co-founder of the network, outlined a quantum resistance roadmap in late February. He identified validator signatures, data storage, accounts, and cryptographic proofs as areas that must be updated to prepare for quantum threats. Ethereum developers are reported to be working with a new security team, with a post-quantum roadmap targeting completion by 2029 designated as a top strategic priority.
The urgency of the issue was underscored on Wednesday when Google announced a 2029 deadline for its own post-quantum cryptography migration. The technology company warned that quantum computers will pose a significant threat to current cryptographic standards, with particular concern directed at encryption and digital signatures. The announcement adds external pressure on blockchain networks to accelerate their own preparations before quantum computing capabilities reach a critical threshold.
Originally reported by CoinTelegraph.
