A Quantum Computing-Dominated World is Coming... (truncated) - page 2.

calkob

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Quote from: ebliever on August 16, 2016, 08:52:35 AM

A Quantum Computing-Dominated World Is Coming In Less Than 10 Years, Says CEO Of Acronis

http://www.forbes.com/sites/nanhiein/2016/08/15/a-quantum-computing-dominated-world-is-coming-in-less-than-10-years-says-ceo-of-acronis/amp/

An interesting article on quantum computing, claiming that developments are coming quickly in this area. My understanding is that while bitcoin is not wholly broken by the availability of quantum computers, there would be some things that need to be addressed. I hate to distract from transaction capacity improvements, but does this need to start moving up on someone's to-do list?

There is some brief discussion of cryptography most of the way through the article, but only from the standpoint that greater privacy can be achieved with QC. That sounds hopeful, as until now I'd only heard of QC in the context of breaking existing password-based protections.

Yeah this has been asked before, and the 1st reaction has to be this. If QC goes main stream, bitcoin security is going to be the least of your worries, every single encryption method we have will be open for business. Undecided

MingLee

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The world may soon be dominated by quantum computing, according to that guy, but he needs to have something to back up such a bold prediction. We're still struggling when it gets to actually getting a quantum computer to give off outputs from decent amounts of inputted data. Right now it's not looking like something that will be working anytime soon.

15 pounds cars, interesting proposition, poor realistic application. I would assume they would have to be electric if anything.

odolvlobo

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Quote from: franky1 on December 05, 2016, 05:35:48 PM

QC has limitations.

solving binary logic problems QC doesnt handle well.. expect a 2x 'efficiency' rate
so things like SHA.. dont expect much efficiency of being brute forced by a QC system.

but things like ECDSA that can have deeper efficiency of being brute forced by a QC system.25-256x efficiency.

the thing is though. the cycle rate of a QC CPU compared to a binary based CPU right now has not much difference. so its going to take a while for something desktop PC size to outperform a PC.

QC computers has along time before its truly scaled to compete.

Current estimates say that SHA-256 and ECC will be broken in less than 20 years, assuming that current hurdles are overcome and the number of qubits double every year.

Milkduds

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Just finished this magazine and was more interested in the top 50 fintech companies,think those are more in line with bitcoin and its current failings in the lending sphere. Recommend the read if you have time.

Its really exciting to think that we are pushing this into overdrive and the concepts are going to start flying out of the wood work in such a short time.
Medical advancements will go through the roof and we can enter the body modification for more functional living.
The crypto world may need to re-draft all together but I think we can cross that bridge when it comes,say 5 years at the earliest?
I like this field of creating totally new materials,its a real great time to be alive.

The question you put out is more in how fast you think they can achieve this and I think we are still dealing with a decent amount of time to adjust to it. Bitcoin is well positioned for say the next step into virtual reality and I think that aspect will blow the roof off once we combine it with Quantum computing.

franky1

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QC has limitations.

solving binary logic problems QC doesnt handle well.. expect a 2x 'efficiency' rate
so things like SHA.. dont expect much efficiency of being brute forced by a QC system.

but things like ECDSA that can have deeper efficiency of being brute forced by a QC system.25-256x efficiency.

the thing is though. the cycle rate of a QC CPU compared to a binary based CPU right now has not much difference. so its going to take a while for something desktop PC size to outperform a PC.

QC computers has along time before its truly scaled to compete.

chesatochi

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The progress will never end and security will evolve as the same speed. In 10 years the security will evolve and even with quantum technology, I think it will be almost impossible to compromise the bitcoin security.

When we face a new challenge, we found always a new solution.

Sir Alpha_goy

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This alone could render blockchain tech useless.

ebliever

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Quote from: ~Bitcoin~ on August 16, 2016, 11:53:51 AM

I have heard somewhere even quantum computer is not a real threat for bitcoin/blockchain technology because till that time all other technological systems should be upgraded to make it unbreakable by QC so bitcoin network will also be upgraded by that time to withstand and to be operational even when QC get out in the real world.

My point in citing this article was to raise the question: Has that time now come to act, or at least get the ball rolling in some meaningful way?

We spent a lot of time discussing block size and transaction volumes here while bottlenecks on bitcoin xfer volume were hypothetical. I was just over at blockchain.info looking at recent blocks and the bottleneck is no longer hypothetical. Yet we are still waiting for segwit to roll out, much less any change to block size. I'm afraid a similar talk-but-no-action scenario could arise with QC, with disastrous results.

~Bitcoin~

legendary

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I have heard somewhere even quantum computer is not a real threat for bitcoin/blockchain technology because till that time all other technological systems should be upgraded to make it unbreakable by QC so bitcoin network will also be upgraded by that time to withstand and to be operational even when QC get out in the real world.

gentlemand

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Welt Am Draht

Quote from: ebliever on August 16, 2016, 08:52:35 AM

My understanding is that while bitcoin is not wholly broken by the availability of quantum computers, there would be some things that need to be addressed.

Every single type of security in every single area will be broken if this comes to pass. Everything will have to be repaired. Worry about your power supply being disrupted or your food not being delivered before Bitcoin.

ebliever

legendary

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Off-topic note: It is funny how people can be very intelligent in some respects, and then very foolish in others. Near the end of the article it claims QC could lead to ultralight cars that only weigh 15 kg. Speaking as an auto engineer in Illinois, this immediately gives rise in my mind to visions of cars rolling across the landscape like tumbleweeds on the first windy day. Grin

ebliever

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A Quantum Computing-Dominated World Is Coming In Less Than 10 Years, Says CEO Of Acronis

http://www.forbes.com/sites/nanhiein/2016/08/15/a-quantum-computing-dominated-world-is-coming-in-less-than-10-years-says-ceo-of-acronis/amp/

An interesting article on quantum computing, claiming that developments are coming quickly in this area. My understanding is that while bitcoin is not wholly broken by the availability of quantum computers, there would be some things that need to be addressed. I hate to distract from transaction capacity improvements, but does this need to start moving up on someone's to-do list?

There is some brief discussion of cryptography most of the way through the article, but only from the standpoint that greater privacy can be achieved with QC. That sounds hopeful, as until now I'd only heard of QC in the context of breaking existing password-based protections.

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