Deloitte warns Bitcoin over Google's Quantum computing risk

[S.coastapps]

Since Google asserted quantum amazingness in the not so distant future, the effect of quantum computers on bitcoins and the blockchain network has much estimated. Deloitte in it’s most recent reports Quantum PCs can break the numerical trouble basic cryptography and would thus be able to put the bitcoin tasks under hazard. Let us investigate how this works out.


Asymmetric cryptography creates an open private key pair with a numerical relationship. The mystery private key used to make an advanced mark that can be confirmed utilizing the general public key and verified through the scientific guideline called “one-way function.”


Source: TheCoinRepublic

[masterrex]

Since Google asserted quantum amazingness in the not so distant future, the effect of quantum computers on bitcoins and the blockchain network has much estimated. Deloitte in it’s most recent reports Quantum PCs can break the numerical trouble basic cryptography and would thus be able to put the bitcoin tasks under hazard. Let us investigate how this works out.


Asymmetric cryptography creates an open private key pair with a numerical relationship. The mystery private key used to make an advanced mark that can be confirmed utilizing the general public key and verified through the scientific guideline called “one-way function.”


Source: TheCoinRepublic

Quantum computing is just like a science fiction to me and i think google was just made it a "hype out of its so called quantum computing prototype development" that's why i believe that most of our industries and the most aspect of the society is not yet ready about these technology.But i dont saying that it will not be developed soon since the development progress is in the past pacing stage. Blockchain technology should evolve too in order to coup these emerging threat in the future.

[Noverteno]

Yes, quantum computing can be a very big problem for cryptocurrencies and in fact cast doubt on the very existence of cryptocurrencies. So far, only assumptions have been made that cryptocurrency will be able to protect itself. However, the problem remains and no one knows how it will be solved in practice. It is very serious.

[endlasuresh]

They were saying it is at totally in risk for Bitcoins and only 25% are in safe, I am still not yet understanding if this much security need, then what does this Bitcoin developers are doing?
They also mentioned in the last sentence that a private key can be takes 8 hours to derive from a quantum computer. They also saying in the end with latest technology nothing is in danger.

[tonymillions84]

Google will definitely invest into anything IT to stay alive and always trend. it is quite interesting to note that they are partnering with chainlink and also looking to partner with other crypto project that are into quantum computing. the world of physics and Information technology.