QRL dont have a QC resistant algo as no one knows what its final ability will be and its 15/25 years of before anyone has a 100% error free computer.
Doesn't look the current wallet of bitcoin already had the quantum resistance for you? Remember the current wallet of bitcoin already generated from SHA 256 which that will not a life from a long time. There will be an upgrade to the algo that gives the more protection or resistance for the quantum computer. I mean quantum just like a degradable algo. 
Topic: How will quantum computing affect bitcoin et al. (Read 876 times)
QRL dont have a QC resistant algo as no one knows what its final ability will be and its 15/25 years of before anyone has a 100% error free computer.
There is indeed a threat to SHA256, which is heavily used in Bitcoin's mining process from Quantum computing. Bitcoin would be vulnerable to some variation of Shor's algorithm and quantum computing.
That is not accurate. SHA is quite safe from quantum computing. For hash search, the maximum known quantum speedup can be achieved by using Grover's algorith and is only quadratic in terms of time complexity - not nearly enough to make a difference in the real world.The part of BTC vulnerable from a QC attacker is the private/public key crypto. This vulnerability is shared with loads of other systems, including SSL. Apparently there is some research on quantum-safe public key crypto, and apparently those methods, if developed, could be incorporated seamlessly in BTC.
http://www.bbc.co.uk/news/science-environment-40294795
Saw this article on the bbc, and i have limited knowledge but could quantum computers be used to disrupt bitcoin and alt coins transactions?
'Before sensitive information is shared between shopper and online shop, the two exchange a complicated number that is then used to scramble the subsequent characters. It also hides the key that will allow the shop to unscramble the text securely.
The weakness is that the number itself can be intercepted, and with enough computing power, cracked.''
Saw this article on the bbc, and i have limited knowledge but could quantum computers be used to disrupt bitcoin and alt coins transactions?
'Before sensitive information is shared between shopper and online shop, the two exchange a complicated number that is then used to scramble the subsequent characters. It also hides the key that will allow the shop to unscramble the text securely.
The weakness is that the number itself can be intercepted, and with enough computing power, cracked.''
By the time quantum computers exist Bitcoin is on the next level
resist quantum have its own future ahead but bitcoin already offer more and it was already been usable.
I think the quantum computer is created different from the previous computer. But is it possible only from this that can have a direct negative effect on Bitcoin.
quantim computing will crack the BTC hashing algorithm, meaning, anyone can obtain all the private keys and coins they want.. But dont worry, quantum computing is still far off.. they would need to revamp the whole computing languages based on x86 for that to happen..
personally im not worried, but it might happen in 50 years for sure
I have seen some calculations that in 59 years it will be possible to crack the private keys but it seems quite vague to me https://bitcoin.stackexchange.com/questions/2847/how-long-would-it-take-a-large-computer-to-crack-a-private-key. I don't think it will be possible that soon. Moreover, one can make a safer code and change btc protocol which is already possible, whereas there are no real quantum computers able to unlock the keys yet. personally im not worried, but it might happen in 50 years for sure
Devs of QRL coin are claiming that it is quantum resistant. Nobody knows if the mathematical formula they use is legit or not.
If someone is good at math give it a try
If someone is good at math give it a try
There is indeed a threat to SHA256, which is heavily used in Bitcoin's mining process from Quantum computing. Bitcoin would be vulnerable to some variation of Shor's algorithm and quantum computing. But with time Bitcoin will change and get better in terms of security and encryption as there will always be a reasonable algorithm which will be safe from Quantum computing and bitcoin will shift to it. Thus, it will keep on existing.
http://www.bbc.co.uk/news/science-environment-40294795
Saw this article on the bbc, and i have limited knowledge but could quantum computers be used to disrupt bitcoin and alt coins transactions?
'Before sensitive information is shared between shopper and online shop, the two exchange a complicated number that is then used to scramble the subsequent characters. It also hides the key that will allow the shop to unscramble the text securely.
The weakness is that the number itself can be intercepted, and with enough computing power, cracked.''
Saw this article on the bbc, and i have limited knowledge but could quantum computers be used to disrupt bitcoin and alt coins transactions?
'Before sensitive information is shared between shopper and online shop, the two exchange a complicated number that is then used to scramble the subsequent characters. It also hides the key that will allow the shop to unscramble the text securely.
The weakness is that the number itself can be intercepted, and with enough computing power, cracked.''
By the time quantum computers exist Bitcoin is on the next level
True quantum computing is still some way off, but the field is developing rapidly. Just a couple of days ago, China announced successful data transmission through quantum entanglement to an orbiting satellite:
https://phys.org/news/2017-07-physicists-transmit-earth-to-space-quantum-entanglement.html
The media often call this 'teleportation', but it's not really, it's much weirder than that. I have a background in physics, but this certainly doesn't mean I fully understand what happens with entanglement. I think at a fundamental level, an understanding of quantum mechanics isn't really compatible with the human brain, which has evolved to deal with very different types of problem. Anyway, a very interesting field, and well worth looking into.
But yes, when quantum computing truly arrives, current encryption methods will instantly be irrelevant. Obviously this doesn't just affect cryptos, it makes everything instantly hackable.
On the plus side though, quantum encryption through entanglement will be completely unhackable. This is because any attempt to 'measure' the system disrupts it - even using a quantum computer. Again, fascinating stuff. There's a good intro on Wikipedia: https://en.wikipedia.org/wiki/Quantum_key_distribution
https://phys.org/news/2017-07-physicists-transmit-earth-to-space-quantum-entanglement.html
The media often call this 'teleportation', but it's not really, it's much weirder than that. I have a background in physics, but this certainly doesn't mean I fully understand what happens with entanglement. I think at a fundamental level, an understanding of quantum mechanics isn't really compatible with the human brain, which has evolved to deal with very different types of problem. Anyway, a very interesting field, and well worth looking into.
But yes, when quantum computing truly arrives, current encryption methods will instantly be irrelevant. Obviously this doesn't just affect cryptos, it makes everything instantly hackable.
On the plus side though, quantum encryption through entanglement will be completely unhackable. This is because any attempt to 'measure' the system disrupts it - even using a quantum computer. Again, fascinating stuff. There's a good intro on Wikipedia: https://en.wikipedia.org/wiki/Quantum_key_distribution
If quantum computing is successfully developed, it wouldn't just affect cryptocurrency. Many kinds of SSL/encrypted communications will be easily broken, compromising private sector/government/personal information..
That's why we will have new encrypted protocols that will resist to quantum computers (maybe this already exists).
I don't know if make a fork to a quantum resistant algo would be useful as we already have our public keys recorded on sha256 blockchain, so that means we will have to switch on another currency. Anyway we're still far of that but it's quite sure in the next 20 years quantum computing will be a relevant question to solve.
To switch on another currency, maybe the best way would be to make an airdrop like byteball, where you link your address to another on the new coin, by this way there is no ico, and everyone will get the same % of coins he had before on bitcoin network. Distribution shouldn't be limited on time so even if you come 5 years late, you'll still can claim your % of coins based your bitcoin address. Only one distribution per address of course
Anyway that's sure one day an altcoin will come with the argument "quantum resistant" and will have a great success
Let's just hope distribution will not be done by mining or ICOs 
Alan Ho, an engineer in Google’s quantum AI lab, revealed the company’s progress at a quantum computing conference in Munich, Germany last year. His team is currently working with a 20-qubit system that has a “two-qubit fidelity” of 99.5 per cent (the error).Also at the same conference it was revealed the NSA has a QC that is possible 10x the speed of the google one.
The major problem of running a chip that fast is "cooling" it and the temp I believe the NSA have to attain to cool theirs is -200 degrees,therefore no QC at this time could exist outside a Lab
The major problem of running a chip that fast is "cooling" it and the temp I believe the NSA have to attain to cool theirs is -200 degrees,therefore no QC at this time could exist outside a Lab
Anyone who has a quantum computer that can disrupt bitcoin (only the NSA have one)
wont give away the fact they have that ability for the sake of bring down BTC
wont give away the fact they have that ability for the sake of bring down BTC
Wonder how you know that NSA has quantum computer or maybe you mean the ones at early stage of development. It's almost like saying that the NSA has teleportation technology.
If quantum computing is successfully developed, it wouldn't just affect cryptocurrency. Many kinds of SSL/encrypted communications will be easily broken, compromising private sector/government/personal information..
Anyone who has a quantum computer that can disrupt bitcoin (only the NSA have one) wont give away the fact they have that ability for the sake of bring down BTC
Finally we have face of Blockchain killer. This is very far from conventional use and so far is in experimental phase, till this becomes ready Bitcoin will be abandoned as outdated. Nobody will wait for this to happen solutions will be made much more faster that we think. Now we can discuss about asteroid or solar flares..
Looks like the article is about encrypting messages through quantum technology than cracking of codes.
Sciencists haven't even understood the science behind Quantum behavior. They probably using the stuff in its crude form.
Wish ICO people will begin to work towards figuring out how things like this work to further fortify the blockchain with its technology. This is the major reason why ICO should be encouraged. "Government" monopolizing this sort of tech is dangerous.
Sciencists haven't even understood the science behind Quantum behavior. They probably using the stuff in its crude form.
Wish ICO people will begin to work towards figuring out how things like this work to further fortify the blockchain with its technology. This is the major reason why ICO should be encouraged. "Government" monopolizing this sort of tech is dangerous.
quantim computing will crack the BTC hashing algorithm, meaning, anyone can obtain all the private keys and coins they want.. But dont worry, quantum computing is still far off.. they would need to revamp the whole computing languages based on x86 for that to happen..
personally im not worried, but it might happen in 50 years for sure
personally im not worried, but it might happen in 50 years for sure
http://www.bbc.co.uk/news/science-environment-40294795
Saw this article on the bbc, and i have limited knowledge but could quantum computers be used to disrupt bitcoin and alt coins transactions?
'Before sensitive information is shared between shopper and online shop, the two exchange a complicated number that is then used to scramble the subsequent characters. It also hides the key that will allow the shop to unscramble the text securely.
The weakness is that the number itself can be intercepted, and with enough computing power, cracked.''
Saw this article on the bbc, and i have limited knowledge but could quantum computers be used to disrupt bitcoin and alt coins transactions?
'Before sensitive information is shared between shopper and online shop, the two exchange a complicated number that is then used to scramble the subsequent characters. It also hides the key that will allow the shop to unscramble the text securely.
The weakness is that the number itself can be intercepted, and with enough computing power, cracked.''
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