A Merkle tree is a data structure used in blockchain networks to efficiently verify and organize large sets of transactions. It works by repeatedly hashing pairs of transaction data to form a single root hash, known as the Merkle root, which represents the entire dataset. This structure allows nodes to confirm the integrity of individual transactions without storing the full dataset. Merkle trees are widely used in blockchains like Bitcoin and Ethereum to enhance security and reduce storage requirements.
Coinbase has formed an independent advisory board of cryptography and quantum experts to evaluate long-term risks that quantum computing could pose to Bitcoin and blockchain security.