Here's how bitcoin, Ethereum and other networks are preparing for the looming quantum threat

What: Bitcoin, Ethereum, and other networks are working to implement quantum-resistant cryptography to protect against potential quantum computer threats.
Why: The looming quantum threat could compromise current cryptographic algorithms, putting sensitive information at risk.
Signal: Researchers are developing new quantum-resistant algorithms, such as the SPHINCS and Ring Signature schemes.
Target: The goal is to implement these new algorithms by 2028 to ensure the security of blockchain networks.
Risk: If not addressed, the quantum threat could lead to significant financial losses and damage to the reputation of affected networks.