Sandra K. Helsel, Ph.D. has been researching and reporting on frontier technologies since 1990. She has her Ph.D. from the University of Arizona.
Could Quantum Computers Defeat Bitcoin? Not So Fast
(Decrypt.co) Jeremy Van der Haegen, a Belgian freelance journalist who covers business and politics of the Asia-Pacific, cryptocurrencies, and blockchain technology, recently wrote answered his question, “Could quantum computers defeat bitcoin” in an article. IQT-News summarizes below.
One of the most overlooked problems of blockchain systems is their ability to resist quantum computers.
In the case of blockchain systems, the cryptography protecting their tamper-proof ledgers may be at risk. Researchers at the University of Sussex estimated in February that a quantum computer with 1.9 billion qubits could essentially crack the encryption safeguarding Bitcoin within a mere 10 minutes. Just 13 million qubits could do the job in about a day.