CryptoCurrency Experts Split On Danger from Quantum Computers; Say QC is a “Scarecrow”
(CoinTelegraph) “Quantum computers are scarecrows for the crypto industry for years”, opens this article. Some speculate that the advances in this technology will make all existing cryptography obsolete. This time quantum entanglement was used to exchange a secret key that could be used to encrypt and decrypt messages. One could imagine if this technology becomes a commodity it could make crypto hacking obsolete as users would be able to authorize transactions outside of the Internet.
These authors surveyed crypto experts to learn whether this technology could have practical implications for the industry in the near future.
Cornell University professor and Ava co-founder Emin Gün Sirer told Cointelegraph that he believes it will become practical sooner or later. “Yes, I keep hoping! I first read about this in the 1980s. At some point, it’ll be practical,” he said.
Bitcoin Core developer Wladimir van der Laan does not believe it will be adopted in his lifetime.
Ian Grigg, the inventor of the Ricardian Contract and a notable a cypherpunk does not believe quantum cryptography has something practical to offer: “We don’t need quantum cryptography to securely distribute keys. We can do it cheaper with software methods.”
Sergio Demian Lerner, a Bitcoin (BTC) researcher and designer of RSK agrees with Grigg that there are less expensive ways to get the job done: