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Topic: Bitcoin and quantum computing dangers - page 2. (Read 148 times)

hero member
Activity: 1750
Merit: 589
November 18, 2019, 12:32:40 PM
#2

How serious is the threat that quantum computing poses to blockchain technology, and what can be done about it?

The science of quantum physics is being used to build quantum computers–powerful machines that have the ability to solve incredibly complex mathematical equations much more quickly than even the most advanced computers available today.

As such, any data that’s encrypted using mathematical equations–including banking data, intelligence data protected by the government, and encrypted messages on cell phones–is vulnerable to being exposed by quantum computing. Most notably, in this case, encrypted cryptocurrency data–such as private wallet keys–are also vulnerable to quantum computing technology.
Is Bitcoin doomed?
This topic has been discussed lots of times here in the forum and answers differs all the time. But well, I don't think bitcoin enthusiasts and bitcoin doesn't have to worry and be threatened about quantum supremacy that google claims they've already achieved. Yes, there is a possibility that the quickest computer could decrypt whatever's encrypted with regards to bitcoin, but quantum computers isn't made for that. People who are in-charge of handling it uses it for research and matters that is more than destroying bitcoin, so if there is somthing to be worried about, its something with regards to the intention of whoever is in-charge of the quantum computers.
newbie
Activity: 29
Merit: 2
November 18, 2019, 10:31:14 AM
#1

How serious is the threat that quantum computing poses to blockchain technology, and what can be done about it?

The science of quantum physics is being used to build quantum computers–powerful machines that have the ability to solve incredibly complex mathematical equations much more quickly than even the most advanced computers available today.

As such, any data that’s encrypted using mathematical equations–including banking data, intelligence data protected by the government, and encrypted messages on cell phones–is vulnerable to being exposed by quantum computing. Most notably, in this case, encrypted cryptocurrency data–such as private wallet keys–are also vulnerable to quantum computing technology.
Is Bitcoin doomed?
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