IBM’s Quantum Computer Won’t Break Bitcoin–For Now
(Bitcoin.com) There have been long-standing fears that the advent of quantum computing could break contemporary encryption practices, undermining the security of distributed ledger technologies. IBM’s introduction of its Q System One created a firestorm of new alarms over the imminent death of Bitcoin.
This article refutes reports that IBM’s new Quantum computing system spells imminent doom for bitcoin and cryptocurrency. Despite IBM implying that the computer can be physically purchased, the device is only accessible via the cloud due to the extreme delicacy and climate required to operate quantum chips. IBM also “already offers cloud-based access to its [quantum] experience, which includes the 20-qubit chip.” The author Samuel Haig’s assertion is that “IBM’s quantum system is not the game-changer that many are heralding it to be”.
Haig’s premise is that bitcoin is safe for now and explains that the “IBM Q System One is a commercial rather than a computational milestone”.