Encryption Expert Says Quantum Computing Needs More QuBits to Take Down Bitcoin
(DailyHodl) According to Dragos Ilie, a quantum computing and encryption researcher at Imperial College London, Google would need more quantum bits (qubits) to crack Bitcoin. Ilie commented, “Google’s supercomputer currently has 53 qubits. In order to have any effect on bitcoin or most other financial systems, it would take at least about 1500 qubits and the system must allow for the entanglement of all of them.”
Spelling out the difficulties of scaling quantum computers, Ilie adds, “Don’t dump your bitcoins yet.”
Charles Hayter, chief executive of bitcoin and cryptocurrency data website, CryptoCompare, points out that cryptocurrencies are programmable, open to development, upgrades and even change to fight back.