Woofun AI reports that Galaxy has launched the "Bitcoin Quantum Security Initiative" to mitigate risks from quantum computing advancements. The program allocates up to $5 million in developer grants for post-quantum cryptography research, establishes a dedicated Galaxy Research project, and forms a Quantum Advisory Council comprising industry experts.

Bitcoin currently relies on elliptic curve cryptography, which could theoretically be compromised by sufficiently powerful quantum computers. While no such capability exists today, urgency is underscored by the US National Institute of Standards and Technology's 2024 release of post-quantum standards and a federal mandate for quantum-resistant deployment by 2031.