Coinbase assembles quantum computing defense team! 6 experts respond to blockchain encryption crisis

Coinbase Establishes Quantum Computing Advisory Committee, Gathering Six Experts Including Dan Boneh from Stanford, Justin Drake from Ethereum, and Others. Quantum Computers May Break Bitcoin and Ethereum Encryption. The Committee Will Release Threat Assessments and Prevention Recommendations, While Coinbase Advances Post-Quantum Signature ML-DSA Upgrades.

Why Coinbase Is Now Establishing a Quantum Computing Defense Committee

If large-scale quantum computers are built, they could reshape entire industries, from finance and healthcare to materials science and national security. For blockchain, this is especially significant: the cryptographic foundations securing digital assets today may face challenges from technological advances in the coming years. At Coinbase, security is the top priority. Preparing for future threats—even those years away—is crucial for the industry.

Most modern blockchains, including Bitcoin and Ethereum, rely on elliptic curve cryptography. While these systems are currently secure, the emergence of large-scale quantum computers could eventually weaken or destroy them. The security of elliptic curve encryption depends on the computational difficulty of certain mathematical problems, which would take hundreds of millions of years for traditional computers to solve. However, quantum computers, leveraging superposition and entanglement, could theoretically solve these problems in hours or even minutes.

Quantum computing threats are not science fiction. Google announced a breakthrough with its quantum chip Willow in 2024, and tech giants like IBM, Microsoft, and Amazon are investing heavily in quantum research. Although current quantum computers are still in early stages and far from threatening blockchain encryption, the pace of technological progress may exceed expectations. Once quantum computers reach sufficient scale, blockchains that lack defenses could face catastrophic consequences.

To address this future, cross-disciplinary collaboration, rigorous cryptographic research, and proactive planning before quantum computers become widespread are essential. Coinbase’s decision to establish this advisory committee now demonstrates its focus on quantum threats and forward-thinking. Instead of reacting hastily when threats become imminent, it’s responsible industry leadership to start preparing years in advance.

Three Major Threats of Quantum Computing to Blockchain

Private Key Cracking: Quantum computers can derive private keys from public keys, stealing wallet assets

Signature Forgery: Breaking elliptic curve cryptography could allow forging transaction signatures

Consensus Attacks: Quantum advantage might enable attackers to control network hash power or staking weight

Six Top Scholars Forming Quantum Defense Think Tank

Coinbase is honored to assemble some of the most outstanding researchers in quantum computing, cryptography, consensus mechanisms, and blockchain systems. Professor Scott Aaronson, a pioneer in quantum computing and director of the Texas University Austin Quantum Information Center, has defined multiple areas of quantum complexity theory. Professor Dan Boneh, a leading figure in cryptography at Stanford and co-director of Stanford Blockchain Research Center, pioneered pairing-based cryptography and applied cryptography.

Justin Drake is a researcher at the Ethereum Foundation, focusing on Ethereum’s long-term security and post-quantum resilience. As one of Ethereum’s core developers, Drake has deep expertise in blockchain consensus mechanisms and cryptographic implementations. Professor Sreeram Kannan, founder of EigenLayer, is an expert in blockchain scalability and security. His re-staking mechanism innovation demonstrates profound insights into blockchain security models.

Professor Yehuda Lindell, Coinbase’s cryptography lead, is a global expert in secure multi-party computation, a key technology for privacy and asset protection in the post-quantum era. Professor Dahlia Malkhi, an expert in resilient distributed systems and head of the FinTech Foundations Lab at UC Santa Barbara, has conducted research on distributed consensus and fault-tolerant systems, providing a theoretical basis for blockchain’s response to quantum threats.

These leaders represent the forefront of quantum computing, cryptography, and blockchain research. Their unique insights will help ensure Coinbase and the broader crypto ecosystem stay ahead in this emerging field. This interdisciplinary expert team is rare—comprising quantum physicists, cryptographers, and blockchain engineers—capable of assessing threats and solutions from multiple angles.

Six Experts and Their Specializations in the Advisory Committee

Scott Aaronson: Quantum complexity theory, Director of Texas Quantum Center

Dan Boneh: Cryptography and blockchain, Co-director of Stanford Blockchain Center

Justin Drake: Ethereum core developer, Post-quantum resilience research

Sreeram Kannan: Founder of EigenLayer, Re-staking security expert

Yehuda Lindell: Coinbase cryptography lead, Multi-party computation authority

Dahlia Malkhi: Distributed consensus and fault-tolerance systems expert

Three Core Missions of the Advisory Committee

The newly formed advisory committee will issue a position paper assessing the current state of quantum computing and its impact on blockchain systems. This document will provide an authoritative threat assessment, helping the industry understand the current development stage of quantum computing, when it might threaten blockchain security, and which types of cryptographic systems are most vulnerable. This baseline evaluation is critical for developing defense strategies.

The committee will also advise individuals, developers, and organizations on long-term quantum risk mitigation. Recommendations may include: which wallet types are safer, how to migrate to post-quantum addresses, which cryptographic libraries developers should adopt, and how blockchain protocols should plan upgrade paths. Practical guidance like this will help the ecosystem respond in an orderly manner and avoid chaos caused by panic migrations.

The committee will respond promptly to major breakthroughs in quantum computing, providing independent analysis and practical guidance. Quantum computing is a rapidly evolving field, and breakthroughs can happen at any time. When Google, IBM, or other labs announce new milestones, markets often panic, uncertain of what it means for crypto. The committee will act as a “translator,” interpreting these breakthroughs with expertise to prevent misunderstandings and overreactions.

Coinbase’s Post-Quantum Encryption Upgrades in Sync

The advisory committee is part of Coinbase’s broader post-quantum security roadmap. Current product updates include enhancements to Bitcoin address handling and internal key management systems to meet best available protections. While detailed technical specifics are not fully disclosed, these upgrades may involve prioritizing quantum-resistant address types, strengthening key storage security, and improving multi-signature mechanisms.

In long-term cryptographic research, Coinbase is advancing support for post-quantum signature schemes (like ML-DSA) in secure multi-party computation systems. ML-DSA (Module-Lattice-Based Digital Signature Algorithm) is one of the NIST-recommended post-quantum digital signature algorithms, based on lattice cryptography, believed to resist quantum attacks. Integrating ML-DSA into Coinbase’s systems is a key step in preparing for the post-quantum era.

Independent oversight through the establishment of an advisory committee ensures Coinbase benefits from top academic experts’ independent perspectives. This external supervision guarantees Coinbase’s quantum defense strategies are not solely based on internal engineering judgments but are also rigorously reviewed and validated by academia. Independence is a key feature of this committee, allowing experts to offer advice that may diverge from Coinbase’s commercial interests but is technically sound.

Quantum Threat Timeline and Industry Readiness

Looking ahead, quantum computing presents both technological opportunities and security challenges. Coinbase has assembled top global experts committed to ensuring the blockchain ecosystem is prepared rather than reactive. The committee will release its first position paper in the coming months, providing a baseline assessment of quantum risks and outlining a roadmap for building resilience.

Most quantum computing experts believe that quantum computers capable of threatening blockchain could emerge within 10 to 15 years. While this timeframe seems distant, the complexity and time required for blockchain protocol upgrades mean that early preparation is wise. Bitcoin’s Taproot upgrade took several years from proposal to activation, and major Ethereum upgrades typically require 1-2 years of preparation. The complexity of post-quantum cryptography upgrades could extend this process to 5 years or more for full network migration.

Additionally, there is a “harvest now, decrypt later” risk. Attackers could intercept encrypted communications and blockchain transactions today and decrypt them once quantum computers are available in the future. This threat already exists for sensitive information and assets requiring long-term confidentiality.