- Ripple detailed a two-year roadmap that would have XRP Ledger quantum ready by 2028.
- Quantum computing has sparked fears across the cryptocurrency industry.
- Experts predict a quantum computer able to crack blockchains' encryption models will arrive between two and eight years from now.
The spectre of quantum computing is coming to a crypto network near you.
Ripple, the company that created XRP, is racing ahead to make its XRP Ledger quantum-proof by 2028, acknowledging that the threat quantum computers pose to crypto networks has hastily moved “from theoretical to credible.”
On Tuesday, the company put out a statement saying it’s testing quantum-resistant technology alongside its existing systems, while working with partners to accelerate development.
“Recent research from Google Quantum AI is bringing renewed attention to what quantum computing could mean for the crypto industry,” Ripple wrote. “The findings show that the cryptography most blockchains rely on today can be broken by sufficiently advanced quantum computers.”
Ripple now joins the two top crypto networks — Bitcoin and Ethereum — in attempting to stave off quantum computers, a still-theoretical yet fast-advancing technology that has the potential to break blockchains en masse.
Indeed, the issue has become a stormy one for crypto enthusiasts, developers, and investors. Today there aren’t any quantum computers able to break crypto networks, although researchers point to a strategy called “harvest now, decrypt later,” wherein hackers can collect public data from blockchains today and wait for quantum computers to mature enough to crack it.
Researchers at Chaincode Labs said that up to 50% of all Bitcoin is at risk of a future quantum computer. Many Wall Street bigwigs have said that developers maintaining Bitcoin need to take the threat more seriously.
Four-phase plan
Ripple's roadmap consists of four phases.
The company has already begun testing quantum-resistant security methods recommended by NIST, the global standards body for cybersecurity. By late 2026, it plans to run those methods alongside existing security on test networks. And finally, full transition is targeted for 2028.
What if quantum computers break current security before that date? Ripple will roll out an emergency plan in which XRP would stop accepting old-style signatures and force users to move funds to quantum-safe accounts.
Looming threat
Watching another crypto company roll out a quantum-resistant roadmap means one thing: the threat is real, daunting, and imminent.
In fact, developers supervising some of the largest crypto networks have already taken steps to address the issue.
In March, the Ethereum Foundation published its own four-pronged plan to protect the $278 billion network, targeting 2029 for completion. Even though researchers inside the foundation don’t think quantum computing will be “cryptographically relevant” for another eight to 12 years, they said they're erring on the side of caution.
So are Bitcoin developers. A proposal dubbed BIP-360 already exists to address quantum risks before they materialise. Another one, tagged BIP-361, proposes to freeze coins that are exposed and haven’t been moved in over a decade. That would include the 1.1 million Bitcoin stack that has been attributed to Satoshi Nakamoto.
Ripple's inclusion to the quantum-computing fearful begs the question: how many other networks are preparing? And how many are just waiting to see if the threat materialises before acting?
Pedro Solimano is a markets correspondent based in Buenos Aires. Got a tip? Email him at psolimano@dlnews.com.
