Strategy-led group pledges $15M to quantum-proof Bitcoin network
A consortium led by Strategy and BlackRock has pledged $15 million to secure the Bitcoin network from the threat of a quantum computing breakthrough.
Michael Saylor’s Strategy announced the launch of the Bitcoin Security Consortium, a group of financial institutions and Bitcoin companies supporting the long-term quantum security of the Bitcoin network.
The consortium pledged an aggregate $15 million over the next three years to support developers securing the Bitcoin network against the threat of a quantum computing breakthrough, Strategy announced in a Thursday press release.
Other founding members include Anchorage Digital, ARK Invest, BlackRock, Block, Blockstream, Coinbase, Fidelity Digital Assets and Galaxy. The consortium’s day-to-day work will be coordinated by Mike Schmidt, who serves in a volunteer capacity and is the executive director of Brink, a non-profit that supports Bitcoin open-source developers.