Cryptocurrency Industry Addresses Uncertainties from ‘Quantum Supremacy’ Announcement
(BeInCrypto) The ‘quantum supremacy’ announcement from Google has raised uncertainties for the future of bitcoin and cryptocurrency in general. Some fear that the scaling of quantum computers could make Bitcoin’s cryptography hackable or breakable.
However, experts believe that Google’s quantum computing development is still in its early stages.
The blockchain security concerns that Google’s quantum computer bring, point to a new wave of blockchain technology that is reportedly resistant to quantum computing. For example, the founder of E-cash, David Chaum, is doing that with his new cryptocurrency, Praxxis. Chaum commented, “The notion of Google achieving a quantum breakthrough sounds very dramatic, but in reality, it’s hard to gauge the significance at this time. How can we be sure that Google’s quantum computer is more powerful than D-wave’s, for example, which surpassed 1,000 qubits four years ago?”