1. Today's quantum computers are so unstable that even the tiniest vibration can make the results invalid.
2. If quantum computing will ever become usable for real, many other fields are in big trouble, including the banking (a small example is internet banking).
It's true, with coins like Monero, a hacker would not know which address should hack for more money.
On the other hand, on Bitcoin network nobody stops the owners of the fattest wallets split their content into 1000s of small wallets. What then?
Topic: Every Cryptocurrency Can Be Hacked in Just a Few Seconds - page 3. (Read 640 times)
I just type "do quantum computers a threat to bitcoin" and there like About 854,000 results show up. So this just like @avikz says, it's an old debate and we should not repeat it over and over again. We never know what quantum computer capable of cause we don't have one. it's not like a regular computer you can buy of the store right?
But you not really care about all that don't you? Cause you just want to gain more traffic to your website and gain that sweet ad revenue, can't even look at the article without turn my adblock of.
But you not really care about all that don't you? Cause you just want to gain more traffic to your website and gain that sweet ad revenue, can't even look at the article without turn my adblock of.
It's a pretty old debate! No one really knows what exactly will happens if quantum computing becomes a reality (IBM already implemented one but with restricted usage), these are just assumptions! Even if I consider that quantum computer will hack into any crypto algorithms, there will be new kind of algorithms available to prevent such mishaps. There are several theoretical ways to do that and Dr. Liu himself suggested one of those, dual chain system!
Google it and you will find different articles on the same topic. I can recomment at least one for you,
https://hackernoon.com/quantum-computing-can-blockchain-be-hacked-19c2ec7bac85
Google it and you will find different articles on the same topic. I can recomment at least one for you,
https://hackernoon.com/quantum-computing-can-blockchain-be-hacked-19c2ec7bac85
Yeah, it's true. If only we have a quantum computer laying around that capable to be used to hack those cryptocurrencies lol. Anyway you can read this article too just so you can have another point of view for this matter
If there were a powerful enough quantum computer suddenly appear somewhere in the world, many cryptocurrencies already develop and deploy a mitigation mechanism. For example, by using only one-time addresses, the quantum computer can never even have a shot at cracking the encryption key of the user.
Is it possible that all current blockchain-based cryptocurrencies (like Bitcoin) can be hacked in just a matter of seconds? It indeed seems possible, based on the statements made by Dr. Joseph Liu, Associate Professor at Monash University.
Dr. Liu’s qualifications add allot of weight to his statements. He is the Head Researcher at Monash Blockchain Research Lab, the Chief Scientist of HCash and he is also the co-creator of the Moreno cryptocurrency. In other words, his statements about cryptocurrency development should be taken seriously...
https://www.bitcrypt.co/every-cryptocurrency-hacked-in-seconds/
Dr. Liu’s qualifications add allot of weight to his statements. He is the Head Researcher at Monash Blockchain Research Lab, the Chief Scientist of HCash and he is also the co-creator of the Moreno cryptocurrency. In other words, his statements about cryptocurrency development should be taken seriously...
https://www.bitcrypt.co/every-cryptocurrency-hacked-in-seconds/
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