Quantum computers will be less efficient then ASICs as they are capable of doing multiple tasks while ASICs are only capable of doing one task (mining SHA256 coins) therefore lose less from excess capabilities.
I think ECDSA will remain safe as someone with a Quantum computer would be able to make more money from mining as opposed to trying to steal money from wallets/addresses
Topic: How will Quantum Computing affect the bitcoin market? (Read 1182 times)
How long until this comes upon us? Is ECDSA safe? What are the alternatives to avoiding the collapse of the currency if private keys can be intercepted easily?
Why this same Q keep coming back again and again ? Be wary about online banking before u worry about Quantum Computing effect on Bitcoin. Most of the banking software still fee protected under SHA-128, whereas Bitcoin implements SHA-256.
OP, it won't. Been discussed many times. Search the forum.
http://bitcoin.stackexchange.com/questions/6062/what-effects-would-a-scalable-quantum-computer-have-on-bitcoin
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OP, it won't. Been discussed many times. Search the forum.
Well, quantum computing probably won't be available to the public for a long time, and even when it is it'll probably be really expensive. However, when it does come out, hopefully there are better ways to secure your Bitcoins.
How long until this comes upon us? Is ECDSA safe? What are the alternatives to avoiding the collapse of the currency if private keys can be intercepted easily?
Quantum computers are here. The NSA already reportedly has one. ECDSA is safe as it would take up more energy then the sun produces in many lifetimes to be able to "mine" a private key to a specific address using the most theoretical efficient computer
That technology is not close, but when it happens there are certain ways Bitcoin could be saved but a lot of things would need to be changed.
Welcome to Bitcoin.
Quantum computing like the ones shown in fiction are still in fiction. They are atleast 30-40 years away, maybe even a lot more.
Technology demonstrators which can do basic operation are already in place.
Technology demonstrators which can do basic operation are already in place.
How long until this comes upon us? Is ECDSA safe? What are the alternatives to avoiding the collapse of the currency if private keys can be intercepted easily?
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