For some time now, Quantum computing has been on the tech radar for very different reasons. But recently, a renowned cryptographer has come out to dispel the fears going around that the current quantum computing advances could to some extent jeopardize Bitcoin security.
On Sept. 24, after Peter Todd — the ex-Bitcoin Core developer — had led the criticism in a Twitter discussion, Google came out to claim that it had attained the “quantum supremacy” status.
According to the tech giant, the computer it created, specifically, can solve an equation in just 3 minutes 20 seconds that could otherwise take 10,000 years to compute, a particular Financial Times paper claimed.
The paper was quoted saying:
“To our knowledge, this experiment marks the first computation that can only be performed on a quantum processor”.
Cryptocurrency proponents have previously contended with the area of Quantum computing. A good case is when experts came out in 2017 to dispel myths that those kinds of machines were capable of undermining the Bitcoin blockchain’s Security.
Far from breaking cryptography
Todd continued to suggest that Bitcoin’s freedom from potential trouble is guaranteed by the financial impediments facing Google’s latest creation.
He continued to say that Google’s quantum breakthrough is in a primitive stage and therefore, means nothing since it is far from breaking cryptography.
He later concluded:
“We still don’t even know if it’s possible to scale quantum computers; quite possible that adding qbits will have an exponential cost.”
Some details surfaced earlier this month suggesting that the United States’ National Security Agency (NSA) plans to research and develop quantum-resistant cryptography.
Bitcoin, blockchain, and the emerging technology are a bit more complicated, therefore abandoning all hope would not be the wisest move.
Technology and projects have already been put in place in preparation for an age of quantum computing where the blockchain would be resistant.