Bitcoin Forum

Google has already claimed that they achieved quantum supremacy. It's a revolutionary in the computing world. I think that through it could help boost the computing power of the blockchain to produce much bitcoins than our present computers.

Today, many professionals in the field of cryptography are engaged in precisely protecting the cryptocurrency from quantum technologies, namely, making the cryptocurrency resistant to a quantum computer.  It has been suggested many times that a quantum computer is able to crack Bitcoin without much effort, which would take hundreds of years with current computers.

Quantum computing allows the use of Quantum Cryptography, its only the matter that you and I won't be having quantum computing devices anytime soon, only very large organizations will at first. Think classic computers in the 50ies, many story high monsters.

During this transition period, those large organizations will possibly have clear text view of your encrypted communications. There are some possible mitigations, but in the long run it does render classic crypto obsolete.

So while not an imminent threat, it is something that has to be addressed anyway, the sooner the better. Those large organizations are not going to announce you when they can read all your encrypted data, they will just do it, silently.

Hey.. This is something kind of new - I think most of the bitcoin community has looked at quantum computing technology with a feeling of contempt and dismissal, they don't really seem to be caring about it since it's quite a long time away, and if it was actually invented, getting private keys hacked would be the least of our concerns.

Using QC tech for good might have an interesting factor though. Could possibly accelerate mining and make transactions even faster with just a fairly decent sized PC compared to a huge mining rig.

When dealing with quantum physics you're literally messing around with the fabric of reality. Quantum computers wont just be for calculations and simple computations, the quantum world gets real spooky when you consider the fact that particles can become entangled meaning even if they existed on the other side of the universe, they share the same synchronized connections or even quantum teleportation (instant transmissions/like Goku).
  One day I would like to build a quantum blockchain where blocks are instantaneously transmitted to receivers and rebuild the entire internet making information instant with no wires or connections any where of any kind, whether on mars or here on earth.

  I call it the Quantum-Network or QuantNet for short. I've got loads of ideas, just don't have the funding.  :-\

I heard lot of buzz generated from the announcement coming from Google on its eventual achievement of Quantum Supremacy. However, not many details were supplied by Google on this so maybe we should wait for future announcements that can clarify many of our own assumptions. Can this thing be able to really crack Bitcoin? Can we instead use its power to maybe enhance Bitcoin mining and any other Bitcoin processes? The idea that instead of it killing Bitcoin, we can use to help Bitcoin is really good but how things will be working remains to be seen.

On the other hand, there are those who believe that in reality quantum technology can't be able to touch Bitcoin as it is already resistant to such a threat. We will know which camp can be saying the truth once the technology can be tested against Bitcoin. Let's hope that Google will not be playing an evil Tasmanian in this case and will instead use and safeguard the technology for the benefits of all parties.

Quantum computing with regards to blockchain technology is a much more deeper topic than just faster mining of bitcoins. The main concern isn't faster generation of blocks, but rather the security impacts to blockchain because of exponentially faster computing speed that a quantum computer can do versus traditional, and even supercomputers. Even though it's faster, quantum-proof algorithms and methodologies to further secure our sensitive data, whether on network-side of things or hash/cryptography aspect, is already under development.

Quantum computing is a threat to Blockchain technology. Almost all cryptocurrency use legacy Blockchain, which is based on Elliptic Curve Digital Signature Algorithm. Normal computers will take 100 years to brake it, while Quantum computers can do that in a fraction of time. You can read this article for more detail - https://www.cmswire.com/information-management/will-quantum-computing-break-blockchain/

It seems that the technology of quantum computing will really have a huge impact on all sides of the Internet and will be another revolutionary leap of mankind in technology. Like all new technologies, quantum computing can be used for both positive and negative purposes. It looks like the digital world, and possibly cryptocurrency, will change significantly.