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Glassnode estimates that 7.12 million BTC, or 35.4% of Bitcoin's supply, has public keys already visible onchain. A powerful enough quantum computer could one day use those keys to derive private keys. And the interesting part is why those keys are exposed. For most common Bitcoin address types, the public key stays hidden until you spend from that address. Once you do, the key becomes permanently visible onchain. Any BTC left at that address, or sent there later, becomes exposed. Here's Glassnode's breakdown: - 25.8% of Bitcoin's supply is exposed through address reuse, including 11.6% held at exchange-linked addresses. - Another 9.6% is exposed by design, mainly through older P2PK outputs and Taproot. That means nearly 73% of Bitcoin's current exposure comes from address reuse, something holders can address today by moving their BTC to fresh, unused addresses. No protocol upgrade needed, just a transaction. Since 2017, exposure from address reuse outside exchanges has fallen from roughly 21% to 14.2% of supply. Meanwhile, exchange-related exposure has climbed to 11.6%. In other words, more of this exposure is now concentrated at exchanges. Moving BTC to a fresh address reduces exposure while the coins sit there. But spending them again can reveal the public key before the transaction confirms. Fully addressing that risk will require quantum-resistant signatures. We don't yet have a quantum computer capable of breaking Bitcoin's cryptography. And that's precisely why now is a good time to address the risks we already know how to reduce.

IBM just announced its next quantum chip, designed to perform 10,000 quantum operations across 520 qubits. Imagine you had access to a machine like that. What real-world problem would you want it to solve?

Last week to apply for QMS Builder Program Cohort I! We're looking for experienced developers and teams building DeFi, trading apps, stablecoins, post-quantum smart accounts, wallets, AI agents, and developer infrastructure. Already building something, or thinking of bringing an existing project to QMS? We'd love to hear from you and help you take it further. Applications close Nov 18, 1 PM UTC: qms.finance/builders-program

Today is Singles' Day (11.11), a trend that started in China. During last year's Double 11 shopping rush, China's couriers collected a record 777 million parcels in a day. Getting that many parcels delivered efficiently is a huge optimization problem. Here's a much smaller one for you to try: Two drivers have 6 packages to deliver. Each package takes a different amount of time: 13, 11, 9, 8, 6, or 5 minutes. Each driver can only deliver one package at a time. Can you divide the 6 packages between them so both drivers finish at exactly the same time? This is a simple example of optimization: finding the best solution among many possible combinations. It's also the idea behind QMS's Proof of Useful Work, which aims to put blockchain mining power toward solving real-world problems like logistics. Share your answer below. We'll reveal the solution tomorrow.

Proof of Work uses computing power to secure a blockchain. Proof of Useful Work uses that same power to solve real-world problems too.