Sorry I meant the asymmetric cryptography scheme used to derive private and public keys, where the private key is used for signing, and public key used for generating addresses to receive bitcoins. I didn't mean the blockchain was encrypted. The scheme might be at risk without mitigation, if quantum computers become powerful enough.

GxqoRR

bitcoin

Is Quantum Computing really a threat? If that's the case, how?

lightwalker

> I think the real problem will be the individual addresses that are encrypted through asymmetric encryption

There is no encryption, addresses are locking scripts which lock bitcoins with spending conditions.

For example, if you use a P2PKH address (Pay to Public Key Hash), you need to provide the public key which, when hashed, results in the same hash to spend the bitcoins. (You also need to provide a signature.) 

 No encryption involved.

See [here](https://programmingblockchain.gitbook.io/programmingblockchain/other_types_of_ownership/p2pk-h-_pay_to_public_key_-hash) more details