 ▲ Zcash (ZEC) / ChatGPT-generated image |
Experts have warned that technological advances in quantum computing could undermine the anonymity of leading privacy coins in the crypto market, including Zcash and Monero.
According to a March 7 report by crypto-focused outlet U.Today, veteran cryptocurrency researcher Justin Bons raised concerns that quantum computers could decrypt the cryptographic systems of Zcash (ZEC) and Monero (XMR). Posting on X (formerly Twitter), Bons emphasized that these privacy coins could be exposed to quantum computer attacks within the next few years, putting users at risk of having their transaction anonymity fully revealed.
Bons explained that if a public key is exposed, quantum computers could break elliptic curve cryptography (ECC), enabling the de-anonymization of users by tracing their identities. Typically, when a user sends funds from a wallet, the public key becomes exposed. A sufficiently powerful quantum computer could solve the complex mathematical problems underlying that key to derive the corresponding private key. This could allow malicious actors or unauthorized parties to link specific transactions to real-world identities, fundamentally compromising privacy.
In particular, Bons advised users whose long-term privacy is closely tied to their safety to consider using mixing services that do not rely solely on zero-knowledge proofs. He argued that certain mixer services may offer stronger resistance to quantum computer attacks and urged the community to clearly recognize and prepare for related risks, stressing that privacy is a fundamental human right.
However, some in the crypto industry maintain a more optimistic outlook, suggesting that the quantum computing threat is unlikely to materialize in the immediate future. In February, digital asset investment and research firm CoinShares analyzed that the potential threat posed by quantum computers—particularly to Bitcoin (BTC)—is not an urgent issue. CoinShares projected that Bitcoin has roughly 20 years to prepare for quantum computing risks and that even then, only about 8% of the total supply would be vulnerable.
Global exchange Bitfinex has also maintained that quantum threats are technically solvable challenges and that users need not be overly concerned. Nevertheless, Bons’ warning that the core value of privacy coins—anonymity—could be threatened by advances in quantum technology is expected to accelerate industry discussions on adopting next-generation cryptographic solutions.
Disclaimer: This article is for investment reference purposes only and assumes no responsibility for any investment losses incurred based on it. The information provided should be interpreted for informational purposes only.