Kahan848
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February 18, 2020, 10:30:10 PM |
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We're far from this technology to be actually implemented and none of the articles covering quantum computing provide decent info on why BTC holders should be concerned with it
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"With e-currency based on cryptographic proof, without the need to
trust a third party middleman, money can be secure and transactions
effortless." -- Satoshi
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Pulpen
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February 26, 2020, 11:13:11 PM |
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Although it is still very possible that quantum computing will damage bitcoin, it will take a long time for that to happen and maybe by then, we have moved to a safer algorithm or we might not even exist at all. Yes, he did it and that is why he developed the entire Bitcoin protocol in such a way that difficulties would adjust, based on the level of hash combined at a certain time. Satoshi's caliber and knowledge in the fields of IT, cryptography, and all kinds of technical matters are enormous, and we can see that through his own writing in this forum and in other places on the internet that it is not impossible he has thought of quantum computing as a problem that bitcoin might face in the future so he 'proves the future' of all protocols by implanting many cryptographic keys and algorithms that are difficult to destroy in them.
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qubitasic
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February 27, 2020, 02:54:34 PM |
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McAfee’s chief technology officer: Start protecting against quantum computing hacks now https://venturebeat.com/2020/02/25/mcafee-start-protecting-against-quantum-computing-hacks-now/McAfee’s chief technology officer warned that it’s time for companies to start worrying about quantum computing attacks that can break common forms of encryption available today, even if quantum computing isn’t going to be practical for a while. Grobman said. “Now I know what you are thinking: Quantum is not coming anytime soon. But we can’t think of quantum in terms of eventually or tomorrow." “We need quantum-resistant algorithms as soon as possible,” Grobman said.
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fiulpro
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February 27, 2020, 06:52:18 PM |
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Since he was an inventor , he did understand that situations will ofcourse change and thus, sooner or later people will invent some more things so for that time it was amazing but with the coming time I do think he ofcourse thought about it . Even if he didn't he would have understood that already. IT sector is Preety complicated , therefore I do think that everyone who is involved in this understands the same. We have software updates like every month and we discard the mobile phones who are not able to keep up with things like that . Change is inevitable.
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camito
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DAEFROM.com
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February 27, 2020, 11:45:06 PM |
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1. Yes, with quantum computers they would become active. Did Satoshi think that quantum computers will exist? Before we make assumptions and predictions, I think we must know first about quantum computers. Actually, I have read about this new technology before and now that this topic has been opened, I am thankful that I have knowledge regarding it. Quantum computing is invented not to destroy blockchains or affect the safety of cryptocurrencies. It was invented because of the need to perform fast and very complex solutions and equations that a super computer cannot do. The world is constantly developing day by day - with the aid of technology. I think it is easy to predict the next invention but its function on the other hand is not easy to know. Scientists and inventors of today and the future generation is highly capable. Besides, what would be the reason for them to destroy blockchain? Satoshi might be able to assume the occurrence of quantum computing but its effect on bitcoins as you were saying (which is really none) is not.
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───[ DAEFROM ]─── ─────────────[ Stable PoW Platform Based On Ethash Protocol With Its Own Features ]───────────── ───[ DAEFROM.COM ]──
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qubitasic
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March 03, 2020, 05:11:46 PM |
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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-safeIBM 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. Honeywell sees path to world’s most powerful quantum computer in 3 months https://fortune.com/2020/03/03/honeywell-quantum-computer/Tony Uttley, Honeywell’s president of quantum solutions, believes the company will quickly outpace its rivals. “We’re on a trajectory to increase that quantum volume 10-fold every year for the next five years,” Uttley says.
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TimeTeller
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March 03, 2020, 08:40:06 PM |
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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-safeIBM 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. Honeywell sees path to world’s most powerful quantum computer in 3 months https://fortune.com/2020/03/03/honeywell-quantum-computer/Tony Uttley, Honeywell’s president of quantum solutions, believes the company will quickly outpace its rivals. “We’re on a trajectory to increase that quantum volume 10-fold every year for the next five years,” Uttley says. One thing that I can think of in relation to what might Satoshi was thinking about the possible introduction of quantum computers. For sure, he thought that someday there will be advanced computers because of the evolving technology. It is not the case that, his invention will always be the top technology, but it will be the foundation of more sophisticated technologies. The current trend right now may be obsolete tomorrow. So I guess Satoshi is not considering his invention as the ultimate superior in advanced technology.
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Sadlife
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March 03, 2020, 11:51:39 PM |
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Probably yes, i think he might have planned it a stepped ahead because there's a feature that's called halving that happens whenever the miners start solving blocks really quick, that's why he has some counter measures to make the process of mining BTC much more difficult. He even made the Bitcoin source code open sourced, which is really a brilliant move, lt would enable us to fix or modify the code. If Bitcoin encounters problems like quantum computers.
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