(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.
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.