Cryptocurrencies Vulnerable to Quantum Advancement
(Coinspeaker) Quantum cryptography has the potential to redefine the parameters of the cryptocurrency industry in the future.
Cryptocurrency encryption is not exempt from the threat that quantum computing poses. Nothing lasts forever, and while it may be down the road aways, a quantum computer capable of breaking Shor’s Algorithm, which is employed by Bitcoin, is a matter of if rather than when. With that being said, bitcoin already comes with a certain amount of quantum resistance built-in. If you only use Bitcoin addresses one time, as is recommended, it seriously complicates the process of codebreaking, even for a quantum computer. However, generally speaking, all cryptocurrencies are vulnerable to quantum advancement.