Coinbase, BlackRock and Strategy Join $15 Million Bitcoin Security Initiative
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Major financial institutions and Bitcoin firms including Coinbase, BlackRock, Fidelity, ARK Invest, Anchorage, Block, Blockstream and Galaxy launched the Bitcoin Security Consortium and committed $15 million over the next three years to bolster Bitcoin security. The consortium will fund R&D, support developers and prioritize preparations against future quantum computing threats to improve Bitcoin resilience and reduce protocol risk for the crypto ecosystem.
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Major financial institutions and Bitcoin companies have launched the Bitcoin Security Consortium to address emerging threats facing the network. The group includes Strategy, Coinbase, BlackRock, ARK Invest, Anchorage Digital, Block, Blockstream, Fidelity Digital Assets, and Galaxy. Members have committed a combined $15 million over the next three years to support Bitcoin’s long-term security.
Focus on Quantum Computing
The consortium will prioritize research and development efforts that could protect Bitcoin against future quantum computing threats. Additionally, it will support developers and researchers already working to improve the network’s resilience.
Quantum computers could eventually threaten cryptographic systems that protect digital assets. Consequently, the group aims to encourage early preparation rather than wait for technology to reach a critical stage.
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