5 min read
This story originally appeared on ValueWalk
There’s no accurate prediction for when Quantum Computers could be a reality; however, signs indicate that they might be here sooner than ever. With Google officially announcing its quantum supremacy through a recent publication, crypto and cybersecurity enthusiasts fear the judgment of their protocols against the power of quantum computers.
Recently, Google’s Sycamore quantum chip was successful in speeding through complex equations typically unsolvable by conventional supercomputers, hence marking a significant leap in computing power that can bring major breakthroughs in everything from mathematics to engineering and artificial intelligence.
However, this unlocked power can potentially find its way into malicious hands such as hackers and criminals. Considering the raw power of quantum computers, modern-day security protocols may not be able to handle the supremacy of these complex machines. Even blockchain-based cryptocurrencies could soon be victims of malicious manipulation through quantum computers.
While it’s uncertain how quantum computers could disarm blockchain security; It is this uncertainty that instills fear in the cryptocurrency community about quantum computing and its potential to break the system. Now, you might be wondering if your private keys are at risk; the short answer is no.
To dive deeper, we need to understand how quantum computing works and how it will affect cryptocurrencies.
Will Quantum Computers Really Affect Cryptocurrencies?
Without going too much into the technical jargon, Google’s Sycamore quantum processor contains about 54