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Quantum computing boost for IBM but Bitcoin stays safe https://decrypt.co/16211/quantum-computing-boost-for-ibm-but-bitcoin-stays-safe
IBM has doubled the power of its quantum computer but Bitcoin's encryption is still far from being broken.
"IBM has doubled the power of its quantum computer. At yesterday's CES 2020 conference, the company announced it had successfully achieved a Quantum Volume of 32 using its 28-qubit quantum computer known as Raleigh."
"As a network built entirely around cryptographically secured transactions, it stands to reason that a sufficiently powerful quantum computer could eventually crack the encryption used to generate Bitcoin private keys. However, according to a June 2017 paper by Martin Roetteler and several co-authors, such as a machine would need to command approximately 2,500 qubits of processing power to break the 256-bit encryption used by Bitcoin."
Interesting. I know 2500 is far from current 28 qubit but it still scares me a little. Not long ago I've read about 11-qubit quantum computer. How long do you think it will take to develop 2500 qubit computer? I hope Moore's law doesn't apply here.IBM has doubled the power of its quantum computer but Bitcoin's encryption is still far from being broken.
"IBM has doubled the power of its quantum computer. At yesterday's CES 2020 conference, the company announced it had successfully achieved a Quantum Volume of 32 using its 28-qubit quantum computer known as Raleigh."
"As a network built entirely around cryptographically secured transactions, it stands to reason that a sufficiently powerful quantum computer could eventually crack the encryption used to generate Bitcoin private keys. However, according to a June 2017 paper by Martin Roetteler and several co-authors, such as a machine would need to command approximately 2,500 qubits of processing power to break the 256-bit encryption used by Bitcoin."
https://www.thecoinrepublic.com/is-quantum-technology-the-future-of-the-world/
"However, as per an article which was published by Martin Roetteler and various co-authors in June in 2017, such type of a machine requires approximately 2,500 qubits of processing power so that they can crack the 256-bit encryption technology which is used by Bitcoin.
Since the most powerful quantum computer which the world currently has only consisted of 72 qubit processors, one thing is clear that it will take several years for a quantum computer to reach the level of threatening encryption technology."
