Will the future quantum computing destroy cryptocurrency ?

We often see such news in the media: “Quantum computers will be the biggest threat to digital currencies.” “The existing digital currency will not be able to withstand quantum attacks.”

The “quantum computing” mentioned in these news, “quantum attack” is a new computer technology. Once this latest technology can be applied to daily life on a large scale, it will easily solve the existing cryptography problems, and the existing encryption system will no longer be safe and effective.

1. What is a quantum computing? What is a quantum attack?

Quantum computing is a new type of computer based on the principle of “quantum entanglement” in physics. It works in a way that is fundamentally different from existing computers.

For example: If there are 1 million books, look for a sentence A in the 1 million books. The existing computer will take a page and flip it over the book, and check sentence by word to see if there is a sentence A.

And what about quantum computers? One will be divided into 1 million units, and then each one will check a book.

At present, the world’s strongest supercomputer is “the light of Shenwei Taihu Lake”, its operation speed is 930 billion times, and a 50-qubit quantum computer operation speed will reach 112.5 billion times, which is the light of Shenwei Taihu Lake. More than 100 times, instant spike.

In theory, a 300-qubit quantum computer will be able to execute the number of calculations over the sum of the atoms in the universe in an instant, instantly breaking any existing password, including all digital currency encryption techniques.

So using such quantum computers to attack existing digital currencies is almost effortless. This is what the industry often calls “quantum attacks.”

2. Anti-quantum attack, the height of the magic is one foot, and the road is one foot high.

The emergence of the quantum computer and the possible threats, in fact, the industry has long carried out relevant research. And there have been many techniques against quantum attacks, such as Quantum Resistant Cryptography. There is also an organization called OQS (Open Quantum Safe Organization) that specializes in anti-quantum attack technology.

3. Take precautions

Although the threat of quantum computers to digital currency is huge, in fact, there is still a long way to go before quantum computers can be put into practical use, and it is necessary to solve quite a number of technical problems. This is not a one-off work.

The industry has realized the threat posed by quantum computing technology, and many digital money teams are now beginning to adopt anti-quantum computing technology.

Every time I see the news media talking about the threat of “quantum computing”, I always think of the fear of the “millennium bug” threat at the end of the last century. The threat was later proved to be a false alarm, because researchers have long since deployed deployment of related solutions to circumvent this problem.

The same is true in the digital currency field. Currently, some digital currencies (such as NEO, DapCash, etc.) have adopted anti-quantum attack technology. Ethereum is deploying anti-quantum attack technology.

Therefore, you don’t have to worry too much about the threat that quantum computing can pose to digital currencies. For digital currency investors, the focus is on whether the digital currency they invest in is prepared and followed up against quantum attacks.

Articles posted in asiatokenfund.com are an individual opinion base thru readings and online research. No parts of asiatokenfund.com pose as an advisory or recommendations to cryptocurrency or digital asset investments or tradings. Asiatokenfund.com will not be responsible in any losses or gains for readers investment based on articles published in this website. Readers are advised to approach other professional or licenced advisory firms or individual for advises regarding investments.

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