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BTC 
ETH The rapid advancement of quantum computing threatens not only the cryptocurrency market, but also the entire crypto system, including the banking system. However, experts point out that the cryptocurrency market may bear the brunt of this change, becoming the first area affected by this change.
As predictions for "Q-Day" approach, experts warn that cryptocurrencies 'slow governance mechanisms, rather than their cryptography itself, may become the biggest obstacle to resisting quantum attacks.
In an interview with CoinDesk, Quantum Xchange CEO Eddie Zewigan likened cryptocurrency to a "canary in the mine" and believes that the first successful quantum-driven cyber attack is most likely to occur on a decentralized blockchain network.
In this context, the well-known CEO emphasized that quantum-based attacks will target financial networks, and cryptocurrencies may become the primary target in the process.
According to Zewigen, there is currently no quantum computer with cryptographic significance that can crack the elliptic curve cryptography that supports Bitcoin blockchain signatures and the encryption technology that protects banking infrastructure. However, research and development progress by industry giants such as Microsoft, IBM and Google shows that the quantum threat is closer than previously recognized.
Zewigen said that the industry generally expects a quantum computer with cryptographic significance to appear around 2029:"Companies such as Microsoft and IBM have invested billions of dollars in developing quantum computing, and they generally believe that Around 2029, a commercially feasible and cryptographic significance quantum computer will be available."
One report supporting this view comes from recently released research by Google researchers. Research shared by Google shows that the number of physical qubits needed to crack the cryptographic systems that protect Bitcoin and Ethereum has dropped to about one-twentieth of previous estimates. This ratio reveals the severity of the danger and the reality that we are closer to cracking these systems than previously predicted.
Finally, Zewigan believes that the biggest risk to Bitcoin is not its current cryptographic system, but the network's slowness in implementing major upgrades.
