Topic: Quantum computing and bitcoin - page 3. (Read 1962 times)
ECDSA may get compromised due to the Shor's algorithm if Quantum computing becomes a reality. This would mean that private keys may get derived from the public key. Something as simple as stopping the address re-use could prevent such things since cracking the public key does take sometime. I expect Bitcoin to move to a new algorithm before then though.
Quantum computer are still way far than reality and actually it is only the concept. Even what can be done with quantum computer is not identified or imagined till now so it will be quite early to give any idea regarding its impact on bitcoin.
quantum computing is being developed as much as encryption is being improved. we might have a problem in the future, but it's unlikely to happen.
Perhaps quantum computing is another cold fusion. It might remain on the horizon for what seems like forever. And if it does arrive and starts cracking all encryption Bitcoin's going to one of your lesser worries when all remote commerce is vulnerable.
For successful implementation of quantam computing it would take many more decades and to afford that computer for personal or ho.e usages we will have to wait few more years. And I don't think that bitcoin and Quantam computing will share their hands becore 2050. Quantum computing is something like science fiction but it's going to happen in reality but it's far from our imagination.
I am more worried that quantum computing would be able to forge elliptic curve digital signatures, totally destroying Bitcoin by invalidating proof of ownership.
Amen to that!
So it just came to me. Quantum computers are pretty in the near future and it will expand and change prety much everything we see now, but how will quantum computing impact bitcoin?
I dont think so. We have long way to quantum computing. Lets not get ahead of ourselves, haha.
I am more worried that quantum computing would be able to forge elliptic curve digital signatures, totally destroying Bitcoin by invalidating proof of ownership.
Quantum computing is far from current generation still many research and development is going on but to implement bitcoin in quantum computing it will take few years more and once we have quantam computer then I think it wont take much time to mine all the bitcoin that 21 million bitcoin. But still we have to wait till we could afford to buy quantum computer.
In the future it could have an impact. If SHA encryption is broken for example. However bitcoin would be the least of our worries if that happened. Much of the internet would be vulnerable.
EDIT: It is also true that if we saw this coming we could switch to another encryption scheme.
EDIT: It is also true that if we saw this coming we could switch to another encryption scheme.
So it just came to me. Quantum computers are pretty in the near future and it will expand and change prety much everything we see now, but how will quantum computing impact bitcoin?
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