Quantum computing resistant coins?

[tyz]

Research in the quantum computing is making progress. Encryption like the one used by Bitcoin can soon be no longer safe. The solution could sooner or later be based on algorithms that are considered to be resistant. Are there already projects that use such algos?
IOTA is said to do this according to paper. Other?

[BitWhale]

This is my "end game" scenario for bitcoin. I imagine it hitting that the SHA256 algo (and most other algos) is no longer secure and bitcoin crashes, only to be converted to another algo that is supposedly resistant to this type of computing. It's one of the most obvious things I think has the potential to push BTC sub-100 again.

Of course, in reality I have no clue how much a Quantum computer could effect Bitcoin, I'm not a programmer.

Nor do I have any idea if/when this could happen.

[cryptohunter]

quantum computing ?? do we believe this will materialize in our lifetimes?


However cure coin have a quantum resistant coin on the way apparently.

[Minecache]

If quantum computing comes around then every single computer system is at risk, not simply crypto.

[BitcoinNational]

1. none  .. but don't buy the theory .. computation is E & E has a cost per cycle.

2.  likely POS models are resistant .,. now we enter the 'permissioned' chains debate.

3.  Funk it build a Quantum computing chain.

[kiklo]

It is funny we worry about cryptocoins and banks accounts.

Personally, Nuclear Launch codes would be higher on my list of concerns, if a Quantum Computer could crack any cryptocode. 



 

[BitcoinNational]

If quantum computing comes around then every single computer system is at risk, not simply crypto.

Agree. And all the banks accounts around the world would be in the same boat. When quantum computers show up, everything will change.

hack is XXXX
4-digits

not alpha-numeric too might i add 

[greenuser]

Just last month, China launched the world’s first “quantum satellite”.

https://www.extremetech.com/extreme/238315-china-set-finish-2000-km-quantum-link

It's here and now, feeding wikileaks US emails?

Personaly, i only use Chinese mining pools. I have lots and lost of wallets, with very small amounts of coin in each.  Collectivly they add up to a very pleasing amount   however, you have to crack all my keys to take all my coin.

So protect your self, dont have all your coin in one wallet, and that goes for all your alts. However, why would they attack crypto as it is disruptive tech? I fear the US, Israel and my own UK gov more than i do the Chinese or Russians using quantum computers on crypto. They have bigger fish to fry

[Spoetnik]

Some one used a super computer for mining Doge before.
And the tech keeps improving.. i seen lots of revolutionary new tech out over the years.
If they can get manufacturing cost under control then it will roll out world wide.

Samsung made a big announcement recently about their manufacturing process improvements.
That is the tantamout part of it all.. manufacturing.

It's one thing to have a single working proof of concept example and another to get it used all over the globe.
Ever heard news about revolutionary new Cell phone batteries ?
Problem has always been the manufacturing in large scale.. which is what Samsung's announcement related too.

Vulnerable ?
To what hogging the mining rewards ? (like China is doing now)

I guess the coin in question would have to modded to accommodate this or suffer..
BTC can handle it i think.. worse case scenario you mod it and carry on.

[chanbtc]

This is my "end game" scenario for bitcoin. I imagine it hitting that the SHA256 algo (and most other algos) is no longer secure and bitcoin crashes, only to be converted to another algo that is supposedly resistant to this type of computing. It's one of the most obvious things I think has the potential to push BTC sub-100 again.

Of course, in reality I have no clue how much a Quantum computer could effect Bitcoin, I'm not a programmer.

Nor do I have any idea if/when this could happen.

Bitcoin is not a software that can't be changed.

Before that "end game" happens, Bitcoin core devs can change the algo.

[Greenenergy]

If Satoshi chose SHA-256 it means that there is no risk. There isn't a things that he didn't predicted the right way. Hail Satoshi !

[vlad12]

Quantum computing has nothing to do with 'breaking' SHA-256. In our current understanding of quantum computing, the only danger it presents is to the elliptic curve cryptography used in signing transactions. So in an universe where quantum computers actually exist, one 'could' get a private key from a signed transaction. Even without changing anything, if you don't reuse private keys, you are probably safe.

[Ayers]

you are worrying about bitcoin, when every single bank might be hacked without hesitation lol, it will be so easy and more profitable for the hacker to hack a bank with quantum computer than hacking bitcoin or any altcoin

[almond]

Research in the quantum computing is making progress. Encryption like the one used by Bitcoin can soon be no longer safe. The solution could sooner or later be based on algorithms that are considered to be resistant. Are there already projects that use such algos?
IOTA is said to do this according to paper. Other?

take a look at nexus
(nexusearth.com)
they claim to be quantum ready.

[kiklo]

If Satoshi chose SHA-256 it means that there is no risk. There isn't a things that he didn't predicted the right way. Hail Satoshi !

 
Problems with being a Blind Follower.
All ONBOARD the BITANTIC
The Unsinkable coin    






 

[European Central Bank]

dumb but obvious question, as quantum computing doesn't exist yet, how does anyone know that their chosen encryption is immune to it?

[s1gs3gv]

you are worrying about bitcoin, when every single back might be hacked without hesitation lol, it will be so easy and more profitable for the hacker to hack a bank with quantum computer than hacking bitcoin or any altcoin

But not nearly as much fun

[Come-from-Beyond]

Quantum computing has nothing to do with 'breaking' SHA-256. In our current understanding of quantum computing, the only danger it presents is to the elliptic curve cryptography used in signing transactions. So in an universe where quantum computers actually exist, one 'could' get a private key from a signed transaction. Even without changing anything, if you don't reuse private keys, you are probably safe.

Not only this. Bitcoin Mining is much faster.

[Come-from-Beyond]

dumb but obvious question, as quantum computing doesn't exist yet, how does anyone know that their chosen encryption is immune to it?

1. Mathematically proven
or
2. There is no a known algo that cracks it

[VanDeinsberg12]

Research in the quantum computing is making progress. Encryption like the one used by Bitcoin can soon be no longer safe. The solution could sooner or later be based on algorithms that are considered to be resistant. Are there already projects that use such algos?
IOTA is said to do this according to paper. Other?

The current wallet are already having the quantum resistance, but there is some solution for making it more safe with upgrading the SHA256 into the SHA512 but this will affecting the storage of blockchain will be doubled. i think the quantum are just for downgrading SHA256 into the 128 runtime, but the current wallet are already having a resitance for the quantum computers.