Without quantum security, our blockchain future is uncertain

[waybesuricata]

News that two teams of Chinese scientists have achieved quantum advantage — a technical term for when a computer can perform functions beyond that of a classical computer — may be the signal that we have truly entered a new era. While Google’s 54-qubit quantum processor, Sycamore, became the first widely known example of early-stage quantum computing, the latest news out of the University of Science and Technology of China in Hefei is the best proof yet that we have crossed the information rubicon.

But despite many reasons to be excited by these developments, there are reasons to be concerned, too. While we might all eagerly await the day when we can predict traffic jams, consign animal testing to the history books, or pinpoint someone’s likelihood of getting cancer and then engineer a unique treatment⁠ — all in seconds ⁠— its tremendous power has a dark side.

Perhaps most terrifying for a society so reliant on the internet, quantum-level computing puts all of our digital infrastructures at risk. Our contemporary internet is built on cryptography⁠ — the use of codes and keys to secure private communication and storage of data. But for cryptocurrencies like Bitcoin (BTC) and Ether (ETH), for whom this concept is fundamental, one sufficiently powerful quantum computer could mean the theft of billions of dollars of value or the destruction of an entire blockchain altogether. With digital signatures suddenly easily forgeable, the very concept of wallet “ownership” will seem quaint.

Source and continuation of news: https://cointelegraph.com/news/without-quantum-security-our-blockchain-future-is-uncertain

[TomPluz]

Personally, I so concerned with any news on quantum technology all because I already understood its potential power and massive disruption. We are not just talking here of cryptocurrency but almost all aspects of our modern human lives. Will it not be easier for anyone to hack any system with the use of quantum computing? Now, with this thing almost a big reality, there should be an equal force at the other end of the line...and this must be the quantum security system to counteract anyone using quantum to wreak havoc and chaos. This is quite unfortunate that Western countries are found sleeping in the canteen when China is on the verge of acquiring the biggest weapon in the cyber space.