(BitNewsToday) Google’s quantum computing milestone should come as a warning and not as the end of cryptocurrencies. The threat posed by quantum computing should not be dismissed without proper thought and attention it deserves from the crypto community.
Qtum founder and CEO Patrick DAI pointed out that breaking the SHA-256 algorithm is not something that will happen overnight. There will be many warnings along the way, prompting the industry to switch to better cryptographic alternatives.The threat posed by quantum computing should not be dismissed without proper thought and attention it deserves from the crypto community.
The crypto industry is making baby steps in protecting itself from the dangers of quantum computing. David CHAUM, the father of digital cash, is working on a quantum-resistant cryptocurrency while other experts will try to develop quantum-resistant updates to existing blockchains.
The death of cryptocurrencies at the hands of a quantum computer is a big exaggeration. The leaps in technology will be achieved in more or less equal proportion as new technology to mitigate the dangers of quantum computing. There is a long journey ahead. The introduction of quantum computers will likely be a big blow to miners who will be forced to upgrade their hardware.