TechFlame news: The European Banking Authority (EBA), the European Insurance and Occupational Pensions Authority (EIOPA), and the European Securities and Markets Authority (ESMA) stated in a joint risk update that advances in quantum computing could weaken the cryptographic systems that secure blockchain transactions, communications, and databases. In March, researchers at Google Quantum AI estimated that the number of physical qubits needed to break the cryptography used by many cryptocurrencies may be about 20 times fewer than previously estimated. No computer capable of carrying out such an attack currently exists. In February, Bitcoin developer Jameson Lopp and others proposed phasing out current signature schemes and restricting how unmigrated funds can be used five years after the proposal's activation. The proposal has not yet been adopted. The Ethereum Foundation plans to make Ethereum's execution, consensus, and data layers quantum-resistant by December 2029.