Full Disclosure:
QRL is a Quantum Resistant Ledger (updates forthcoming) that is meant to apply the best available encryption techniques, blockchain technologies and proof-of-stake to protects accounts and transactions in need of long-term stability and security. : End Disclosure
With that out of the way, I saw this article
https://themerkle.com/could-ibms-universal-quantum-computing-be-a-threat-to-bitcoin/ today and it seems that IBM is paving the road. I have read some of the past posts about how bitcoin will adjust when the threat seems imminent. However, with this asset continuing to grow, wouldn't rogue agents benefit from testing and validating on Bitcoin first. It would seem applying the encryption breaking algorithms on Bitcoin to acquire quick funding before government and other protected institutional actors would be a very easily derived strategy?
In addition, wouldn't the first assault on this type of encryption have a more substantial impact on the foundation behind the trust within current blockchain technologies.
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“Bitcoin is definitely not quantum computer proof,” Andersen Cheng, co-founder of U.K. cybersecurity firm Post Quantum, tells Newsweek. “Bitcoin will expire the very day the first quantum computer appears.”
“It will be doomed,”Martin Tomlinson, a professor in the Security, Communications and Networking Research Centre at Plymouth University says. “Any disruption needs the consensus of the bitcoin community and that can’t even be realized when it comes to the transaction limit problem . That’s a relatively simple problem compared to redoing the entire digital signature method.
