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Quantum Computers Might Completely Shatter the Security of Public-Key Schemes According to Quantum Threat Evaluation Report

By IQT News posted 11 Jun 2020

(FintechNews) No one actually is aware of when Bitcoin (BTC) and different cryptocurrencies can be “vulnerable” to the risk from quantum computer systems, in response to most specialists within the discipline.
The final Quantum Threat Evaluation Report was launched in April 2020 from the Global Risk Institute. As talked about within the report:
“Currently deployed cryptographic systems, which include public-key cryptography, hash functions, and ciphers, underpin the security of virtually all communication protocols over the internet and related tools.”
“Quantum computers threaten the security of the aforementioned systems, by completely shattering the security of public-key schemes such as RSA and weakening the security of the so-called symmetric schemes, such as the AES family of ciphers.”
The paper recommends “monitoring all … advances [in this field] … [because the researchers claim it’s of] … paramount importance and stresses the importance of preparing for migration to quantum-resistant cryptographic systems.”

IBM has already developed QCs which are prepared to advertise the “commercialization” of this know-how, which might result in huge enhancements and developments in “materials and drug discovery, financial services, and artificial intelligence.”

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