(Decrypt.co) Hedera Hashgraph founder Dr. Leemon Baird has dismissed concerns over the impact of quantum computing on cryptocurrency, likening it to the Y2K problem—the date formatting issue that was solved by programmers at the turn of the millennium.
Cryptocurrency Industry Already Preparing
The crypto industry is already preparing for the impact of quantum computing, as Baird pointed out. “NIST [the National Institute for Standards and Technology] right now is having a contest to see what the best digital signature system is that’s secure, and we’ll switch to that when it comes,” he said. “We have many years before we need to switch.”
There’s one thing Baird’s looking forward to: “Basically, quantum computers have no effect on our industry, but I’m really excited.”