A new report from Mysten Labs reveals a critical divide in blockchain quantum preparedness, with EdDSA-based chains like Solana (SOL), Sui (SUI), Near (NEAR), and Cosmos (ATOM) positioned for smooth upgrades, while Bitcoin (BTC) and Ethereum (ETH) face existential risks due to their ECDSA foundations. Quantum computers leveraging Shor's algorithm could crack private keys, threatening trillions in assets, prompting global mandates for crypto to adopt quantum-resistant standards by 2030-2035.
Sui Research's breakthrough enables a backward-compatible quantum-safe wallet upgrade for EdDSA chains requiring no address changes, transaction re-signing, or hard forks. This solution preserves historical ledger integrity and allows gradual implementation. Conversely, Bitcoin and Ethereum's ECDSA architecture necessitates disruptive hard forks involving wallet migrations and fund transfers, risking chain splits similar to Ethereum's 2016 divide that created Ethereum Classic.
Mysten Labs Chief Cryptographer Kostas Chalkias emphasized: "Governments mandate classical algorithms like ECDSA be deprecated by 2030-2035. If your blockchain supports sovereign assets or CBDCs, it must adopt post-quantum standards for long-term credibility." San Jose State professor Ahmed Banafa warned Bitcoin's upgrade likelihood remains low due to implementation complexities across millions of legacy wallets, noting: "Users who don't upgrade could pose network risks and blame losses on the chain."