a16z Crypto: Quantum Threats Overstated, Code Vulnerabilitie

a16z Crypto has downplayed the immediate threat of quantum computers capable of breaking cryptocurrencies, suggesting such technology is unlikely to emerge before 2030. The firm highlighted that while quantum-resistant cryptography is necessary to counter potential ‘harvest now, decrypt later’ attacks, premature migration could introduce new risks like performance issues and code vulnerabilities.

The firm noted that most non-private blockchains, such as Bitcoin and Ethereum, are not immediately threatened by quantum risks due to their reliance on digital signatures. However, privacy-focused blockchains should consider transitioning sooner to protect confidentiality. a16z stressed that current security threats, including code vulnerabilities and side-channel attacks, are more urgent, urging developers to focus on code audits and testing.