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BTC 
ETH Coinbase has teamed up with several industry giants to establish the Bitcoin Security Alliance to help Bitcoin's long-term post-quantum security.
Coinbase is developing a post-quantum custody system and is also implementing cryptographic upgrades to its blockchain infrastructure. The alliance will fund Bitcoin security research and support developers working on future post-quantum migration solutions. Coinbase has launched the "Bitcoin Security Alliance" with BlackRock, Fidelity Digital Assets, Block, Blockstream, Strategy, Galaxy, Anchorage Digital and ARK Invest to address the potential risks of future quantum computing to Bitcoin's long-term security. Brian Armstrong, CEO of Coinbase, said that quantum computing does not currently pose a threat to Bitcoin, but preparations must be started in advance before the advent of fault-tolerant quantum computers.
Quantum preparation after Coinbase extension
According to Coinbase, the company established the "Independent Advisory Committee on Quantum Computing and Blockchain" earlier this year. The committee concluded that blockchain cryptography will eventually need to be updated, although the timetable remains uncertain. Coinbase said the biggest challenge is coordinating upgrades to the decentralized network and millions of users. As a result, the company has begun preparing the system to operate rather than waiting for the threat to be imminent. At the same time, the company announced the development of PQ-CoreKMS, a post-quantum version of its proprietary key management platform. Coinbase claims that CoreKMS currently protects approximately 99.9% of managed customer assets. Over the next year, Coinbase expects to deploy an automated signature pipeline that uses secure enclaves, threshold cryptography and secret sharing technologies. In addition, the company has begun reviewing every cryptographic system in all of its businesses and evaluating a post-quantum migration roadmap for Ethereum's Base network.
Alliance supports Bitcoin developers
In addition to internal work, Coinbase will also co-host a seminar on post-quantum Bitcoin work with Stanford University in August this year. The conference will bring together core Bitcoin developers, researchers and cryptographers to discuss migration strategies and technical challenges. Coinbase said it plans to hold more such meetings on a regular basis as development work progresses. At the same time, the company confirmed that it will invest engineering resources to support Bitcoin migration solutions including BIP-360 and other open source work.
Industry members work together to build long-term security
Members of the Bitcoin Security Alliance include BlackRock, Fidelity Digital Assets, Block, Blockstream, Strategy, Galaxy, Anchorage Digital and ARK Invest. Alliance members reportedly committed to jointly investing $15 million over three years to support developers, researchers and organizations engaged in Bitcoin security research. Brian Armstrong said researchers, developers, protocols and companies must work together to advance post-quantum readiness. However, the alliance did not disclose the specific amount of capital contribution by each member, nor did it announce the first batch of funded projects.
