Wednesday, October 16, 2019
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Quantum computer “not deadly” for bitcoin

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Fears that quantum computing will make the blockchain technology useless, are overexaggerated. This opinion was expressed by the representative of the American Institute of Economic Research Jeffrey Tucker in the article “The Threat to Bitcoin from Quantum Computing”.

In his opinion, this fear is based on ignorance and panic moods. The fundamental characteristic of blockchain technology, he believes, is the solution of problems through crowdsourcing, including security threats associated with quantum computing.

Tucker emphasizes that any threat to security can be prevented. In doing so, he refers to the work of a specialist in quantum physics from the Australian University of Macquarie (Sydney), Dr. Gavin Brennen.

Brennan himself is convinced that, given the level of quantum computing capacities now available, negative scenarios are impossible. He believes that the current quantum infrastructure has a relatively small quantum gate speed in comparison with that required for cracking a cryptographic key.

In the next 10 years, gate speed may increase to 100 GHz, but extremely fast ASIC devices that are used to process PoW functions will also evolve over time.

The development of a potentially dangerous technology will take 10 years, but at the time of its appearance it will become obsolete, notes Jeffrey Tucker.

The discussion of quantum computing as a potential threat to the blockchain is, in their opinion, an attempt to divert attention from really important problems. Researchers recognize that there is a certain level of risk, but not “lethal”.

As previously reported, according to the findings of the international team of researchers, in ten years computers based on quantum principles will become a threat to the underlying cryptocurrency technology of blockchain.

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