Coinbase is taking an early step into one of crypto’s most complex long-term risks, announcing the creation of an independent advisory board focused on quantum computing threats and how they could eventually affect Bitcoin, Ethereum, and other major blockchains.
Planning Ahead for a Non-Imminent but Serious Risk
While quantum computers capable of breaking modern cryptography do not yet exist, Coinbase said the pace of research means the industry cannot afford to wait. Upgrading global financial systems and decentralized networks takes years of coordination, making early planning essential.
A Coinbase spokesperson said the company does not view quantum computing as an immediate danger, but stressed that network-wide cryptographic transitions are slow and complex. The new advisory board is meant to help the ecosystem evaluate evidence responsibly, publish research, and coordinate practical, long-term mitigation strategies before quantum capabilities reach a critical threshold.
A High-Profile Advisory Board
The advisory board brings together leading figures in cryptography, quantum research, and blockchain development. Members include Scott Aaronson, a professor at the University of Texas at Austin; Dan Boneh, one of the world’s most cited cryptographers; Dahlia Malkhi from UC Santa Barbara; Justin Drake of the Ethereum Foundation; Sreeram Kannan; and Coinbase’s own head of cryptography, Yehuda Lindell.
Aaronson said he joined because the effort focuses on factual guidance rather than speculation, noting that no one knows whether quantum machines capable of breaking public-key cryptography are five years or decades away.
Why Quantum Computing Matters to Crypto
Both Bitcoin and Ethereum rely on elliptic-curve cryptography, which researchers believe could be compromised by sufficiently powerful, error-corrected quantum computers using Shor’s algorithm. In theory, this could allow attackers to derive private keys from public ones, undermining wallet security.
Although today’s quantum machines are far too small and unstable to pose that threat, developers increasingly view the issue as practical planning, not science fiction. Transitioning to post-quantum cryptography would likely require staged upgrades, hybrid signature schemes, and broad user coordination across wallets, exchanges, and protocols.
Debate Inside the Crypto Industry
The crypto community remains divided on how soon to act. Vitalik Buterin has argued that networks should adopt quantum-resistant cryptography well before it becomes necessary, while Charles Hoskinson has warned that premature upgrades could slow networks and introduce new risks without adequate hardware support.
Coinbase’s advisory board aims to navigate this tension by producing independent analysis, publishing research papers, and issuing guidance as quantum computing milestones are reached.
Why Coinbase’s Move Matters
Quantum researcher Anastasia Marchenkova said the announcement reflects growing pressure on financial and tech firms as governments move to formalize post-quantum cryptographic standards. She emphasized that the board’s mix of academic researchers and real-world crypto engineers is critical, since post-quantum security requires cooperation across disciplines.
As a publicly traded company, Coinbase’s decision to openly address quantum risks carries weight beyond crypto. Marchenkova noted that banks, infrastructure providers, and even non-crypto users recognize the Coinbase name, making this a signal that post-quantum security is becoming a mainstream concern.
For now, the initiative is about preparation, not panic. But by formalizing the conversation early, Coinbase is pushing the crypto industry to confront a future challenge that-whenever it arrives-will require global coordination and careful execution.
