Google has left everyone awestruck with it's latest technological development of quantum computer which claimed to hold the potential of handling intricate calculations in seconds. while on the other hand the entire procedure for bitcoin mining and transaction based and secured by complex mathematical structures, which are almost impossible to breakthrough. though not sure for how long with the new quantum approaching.I think thats too early to presume, Its just an announcement to create a hype! But quantum computing is achievable but i think its not like that easy or instantly to create a new hybrid computing machine and change all of the sudden of what we use today, If those quantum computing machines was already in existence i dont think cryptocurrency developers are not able to cope up with a solution with that so called threat!
This news has shaked many bitcoin holders and traders worried of losing their BTC, though this time it's not about price it's something much bigger than that, something that can change the fate of crypto industry from its core.
News Source: TheCoinRepublic
Quantum computers could threaten blockchain security but the blockchain community I think has anticipated this problem in the future
Google has left everyone awestruck with it's latest technological development of quantum computer which claimed to hold the potential of handling intricate calculations in seconds. while on the other hand the entire procedure for bitcoin mining and transaction based and secured by complex mathematical structures, which are almost impossible to breakthrough. though not sure for how long with the new quantum approaching.
This news has shaked many bitcoin holders and traders worried of losing their BTC, though this time it's not about price it's something much bigger than that, something that can change the fate of crypto industry from its core.
News Source: TheCoinRepublic
I have read several articles about this, as in this article https://medium.com/the-quantum-resistant-ledger/no-ibms-quantum-computer-won-t-break-bitcoin-but-we -should-be-prepared-for-one-that-can-cc3e178ebff0
The article you gave was missing and it can be said that the article is just an obscure Hype for all cryptocurrency lovers.
Can be seen and checked for proof of the picture below!
Not a lot of people will have access to quantum computers, at least at first, and I assume those people would be thoroughly vetted. There is no need to panic yet.History just shows that cybercriminals primarily acquire such technologies, despite any restrictions. Therefore, we have something to think about right now. If quantum computers were to easily hack into our wallets, the cryptocurrency would quickly devalue. Whatever measures the government takes is unlikely to help. It should also be noted that governments in general are not very interested in the existence of a decentralized cryptocurrency. However, the availability of quantum computers will threaten the normal circulation and their digitalized currencies. Therefore, it will still be a common problem.
Scientists do not deny that in ten years, modern cryptographic protocols can be hacked using a quantum computer for about ten minutes pass between the broadcast of the transaction and its processing in the bitcoin blockchain. During this time, the quantum computer will be able to calculate the private key based on the public one and will be able, for example, to transfer bitcoins to another wallet. But I hope that these 10 years and security will not stand still, but will constantly improve.Most importantly, the likelihood of such a hacking in our wallets exists and it is quite real. While experimental quantum computers are being prepared for release, already at this, and maybe even earlier, such computers will fall into the hands of criminals, and then many may lose their millions of dollars in cryptocurrency wallets. I think first of all we need to be wary of our fat whales. They will be targeted by attackers first. After all, access to the contents of wallets is still publicly available.
I am optimistic that you will never see such a bad thing happen. Technology will continue to evolve, and security systems will continue to be implemented. Likewise with bitcoin. In fact, in the last 2 years everything was safeMeanwhile, yesterday I read in the news that China is going to supply schools with low-power quantum computers for two qubits, which will cost about $ 5,000. The goal is to familiarize students with the principles of quantum computers. That is, real quantum computers have already been created.
If this still happens and the new quantum computer can calculate passwords to private wallets, then this will be the end of cryptocurrencies. But I think it's too early to draw such conclusions, although even if it were, they would have done everything quietly revealing passwords at first to those wallets that are considered lost or for many years there were no movements. In addition, there are only 10 attempts to guess the password and to be honest, I doubt that even a super-powerful computer is capable of this.
To begin with, there are still no 100% manufactured quantum computers, when they are finished, they will not be available to anyone, and the few people (universities, armies, laboratories) who have access will be very controlled. I don't know where I read that when that happens, the Bitcoin protocol can also be updated, so there will be no problem. Now we must make that not happen, not worry about it happening in the future.I do not understand a little why to escalate the situation at a time when there are no reasons for concern at this period. When at least one quantum computer is working, then no payment system, including the banking system, will be safe. But nevertheless, the cryptocurrency market does not stand still and developers in the future will come up with new and new technologies that in the future will resist the quantum computer.
I think it is still difficult to do because so far the quantum computer only accessed a few keys but to go deeper it will not be able to, bitcoin key is very complicated.
Is it facts? Or FUD?
How can the ways of cracking the private keys? If this is really able to do that, so everybody's wallet will be not safe. How cab Google do that facilitating scammers or hackers to work very easily? I don't know about this
Google has left everyone awestruck with it's latest technological development of quantum computer which claimed to hold the potential of handling intricate calculations in seconds. while on the other hand the entire procedure for bitcoin mining and transaction based and secured by complex mathematical structures, which are almost impossible to breakthrough. though not sure for how long with the new quantum approaching.we'll, blockchain expert could somehow create a solution for this problem. these computers is not yet exist and still on development stage. these could not bring harm to the crypto community for sure.
This news has shaked many bitcoin holders and traders worried of losing their BTC, though this time it's not about price it's something much bigger than that, something that can change the fate of crypto industry from its core.
News Source: TheCoinRepublic
Seriously?Mathematically, of course, it is very difficult for anyone to hack a private key, moreover there is a claim about this for me is a story that is spiked with something that can be interesting so that many read and also benefit from the news it makes. This method is being used a lot because by clicking that the profit will be obtained.
How can th9s crack Bitcoin private keys? This is very crucial data and important t keep saved. If this happens, many are in trouble and we can't ensure that our asset is safe. But is this only a bad issue to make us panic? Can you prove how they crack Bitcoin private keys so easily?
@arnold dudicove quantum computers are not being manufactured or programmed to violate anyone's privacy or steal anyone's funds, but as everything in life depends on how we use things, for example cars, they are not made to run over, but there are criminals who use them. Knives were not invented for that either, they are not made to stab, but there are people who use them to stab. In the same way, quantum computers are made to be able to process calculations much faster than conventional ones.I agree with you. That many things are deliberately created for good. So it is with quantum computers. But by bad people then use it precisely for fraudulent purposes which can harm anyone. So it all comes back to each individual.
Instead of buying or assembling a Quantum computer, it's better for us to mine Bitcoin and trade it in the market because this is a bigger advantage than having to crack an existing Bitcoin private key, which will yield zero results from a cracked private key.
I'm also sure that Quantum computers do exist but maybe only some people have them and of course those who have them are also better off using their Quantum computers for more real and simple Bitcoin mining for profit.
Wow!
What news is this again?
It seems the media is short on good news about Bitcoin. lol
I can't say much more about Bitcoin because Bitcoin is something unique and difficult to crack in terms of private keys.
Instead of looking for Bitcoin weaknesses, maybe it's better for us to look for Bitcoin by mining or trading in various markets, right ?
Anyway, bitcoin will need to do something in terms of this new quantum computer, protecting bitcoin is its initial task, if it is possible to crack the private code, the price of bitcoin will drop sharply.
You're right, quantum computer is very expensive.Quantum PCs are only for people who want to do research and of course it's not easy to get them, quantum PCs are not like PCs on the market like in general because these PCs are not designed for ordinary use. so I think it would be pointless to have a very good and very expensive PC but still not multifunctional.
But It's a hope.
maybe I don't believe bitcoin private key could be cracked with quantum computer.
I think It will never happen, Not easy to crack bitcoin private with quantum computer.This is already becoming a reality. Quantum computers are improving quite rapidly. It is estimated that at the current rate of development of their capacities, it will take about ten years for them to be able to crack the security codes of cryptocurrencies. And this is in the event that something new is not invented, which will significantly speed up this process.
Until now, I didn't hear about it.
No one can do.
This is already becoming a reality. Quantum computers are improving quite rapidly. It is estimated that at the current rate of development of their capacities, it will take about ten years for them to be able to crack the security codes of cryptocurrencies. And this is in the event that something new is not invented, which will significantly speed up this process.
In China, not very powerful quantum computers are already being supplied to schools so that they study the principle of its operation and know how to use it.
I think It will never happen, Not easy to crack bitcoin private with quantum computer.Nevertheless, quantum computers have been created and continue to improve. So, scientists in Austria managed to improve a quantum computer and create the world's first universal quantum computer, which is built on the basis of kudits - the so-called multi-level quantum bits.
Until now, I didn't hear about it.
No one can do.
Google has left everyone awestruck with it's latest technological development of quantum computer which claimed to hold the potential of handling intricate calculations in seconds. while on the other hand the entire procedure for bitcoin mining and transaction based and secured by complex mathematical structures, which are almost impossible to breakthrough. though not sure for how long with the new quantum approaching.
This news has shaked many bitcoin holders and traders worried of losing their BTC, though this time it's not about price it's something much bigger than that, something that can change the fate of crypto industry from its core.
News Source: TheCoinRepublic
I think It will never happen, Not easy to crack bitcoin private with quantum computer.Just because you haven't heard about the new possibilities of quantum computers doesn't mean it can't happen. Recently, I have already read several articles about serious positive experiments that can dramatically increase the computing power of quantum computers. Moreover, such inventions cannot be planned in advance. Therefore, everything is possible. But I'm not particularly worried. First of all, wallets for very large sums will be at stake.
Until now, I didn't hear about it.
No one can do.
Google has left everyone awestruck with it's latest technological development of quantum computer which claimed to hold the potential of handling intricate calculations in seconds. while on the other hand the entire procedure for bitcoin mining and transaction based and secured by complex mathematical structures, which are almost impossible to breakthrough. though not sure for how long with the new quantum approaching.
This news has shaked many bitcoin holders and traders worried of losing their BTC, though this time it's not about price it's something much bigger than that, something that can change the fate of crypto industry from its core.
News Source: TheCoinRepublic
Maybe it could be, private key can be cracked with quantum computer.
But I didn't read about this news yet.
But I believe we will see the big improvement in computer.
Let's see.
If there is the people that can crack private key with quantum computer, I think It's good progress.Of course, there is a strong possibility that over time, quantum computers will become so powerful that they will be able to crack the secret keys to crypto wallets. If the participants in this market do not prepare in time for such a scenario, then it will be a disaster. There is no doubt that this invention will very quickly fall into the hands of bad people. Therefore, such vulnerabilities should always be remembered.
I hope It will be.
We know many investors forgot their private key at the past.
Quantum computers are very strong and best computers in the world which make their tasks automatically and this time America have the Quantum computers and they use this but I don't think so that the Quantum computers will be crack the private keys because this business is unhackable and uncrackable and most secure platform is this business in the world.