Bitcoin Security Consortium launches with $15M support for quantum, long-term security

Nine of the largest firms in institutional Bitcoin have announced the roll-out of the Bitcoin Security Consortium. The announcement came on Thursday, July 23. 

The nine firms committed a total of $15 million over three years to help developers and researchers keep the network safe, with emphasis on post-quantum cryptography. 

The group includes companies with the largest amount of Bitcoin to protect. They are: Strategy, BlackRock, Coinbase, Fidelity Digital Assets, Galaxy, Anchorage Digital, ARK Invest, Block, and Blockstream. 

These nine companies either hold, custody trade, or build Bitcoin infrastructure, so it makes sense that they’re now cutting checks to sustain Bitcoin in the long-term. 

Nine companies, but nine separate checks

Each of the companies will cut a check, rather than the nine of them pooling funds together. Each company gets to pick the developers, researchers, and organizations that receive its money, and the $15 million is a sum of those individual pledges over the next three years. 

… Continue reading the full article at the original source below.