Computer science is an outstanding contribution to humanity, which has advanced by leaps and bounds in the last years of modern history. There are several Platforms that make it simple and secure to exchange bitcoin.
We might think that Progress will never end every day; new challenges will come. However, the idea of using mathematics, logic, and the laws of physics to create machines with enormous processing capacities leads us to another exciting area of research, quantum computing.
Could Quantum Technology Represent a Risk for Bitcoin?
What is quantum computing?
In continuous change and advancement, a new branch of computing will undoubtedly create more efficient, robust, and accurate computers.
Quantum computing can store many more changes per unit of information and operate with much more efficient algorithms at the numerical level.
In the era of digital technology that we live in, although it is hard to believe, technology does not stop advancing. A new technological era points to the quantum age, which has the world in constant expectation, even in a more significant proportion than when we talk even more about Bitcoin.
What are the scopes of quantum computing?
Quantum computers would be considered the Albert Einstein of systematization, in short, “extraordinary electronic brains,” that will have the capacity to simultaneously process tasks that are almost impossible for a classical computer.
Some of the scope and potentially quantum computing would have on humanity are technological advances and medical development through artificial intelligence, economics, or computer security.
On the other hand, the acquisition of new knowledge by technological experts to transmit in simple languages what the use and management of this innovative equipment will be like.
The first company to commercialize these technological phenomena is the multinational IBM. Whose main characteristic is to combine quantum computing and “traditional” computing.
Information security, materials development, biomedicine, and economics represent some of the future achievements that the quantum computing revolution may encompass.
All these areas have achieved unprecedented advances with current technology. Although it represents a more significant challenge to design technological structures that help improve the quality of life of human beings.
Artificial intelligence is increasingly positioned in the world. As a result, companies leave many basic tasks a person could perform in a particular job position in the hands of this technology.
Bitcoin could collapse with quantum computing
It worries many of those who have placed their most faithful trust in the world of crypto assets; many consider quantum technology the worst enemy of Blockchain and cryptocurrencies.
Consequently, such technology could break the security of Blockchain since the power of quantum equipment could make cryptocurrency security disappear and endanger the investment funds of its users.
Although it is super dangerous for us, Bitcoin does not work with encryption techniques but with hash functions and digital signatures.
This technology allows them to endanger a structure that has been trying to impose itself for more than ten years to replace the financial world economic system.
Of course, cryptocurrency projects still need to correct this and are unaware of it.
This technology is expected to be effective in about four to five years. Even so, while it’s a substantial technological advance to test them for everyone’s use, it may make them too vulnerable to withstand cyberattacks.
At present, quantum technology or computing represents an unprecedented advance, which will bring a variety of benefits to humanity, but at the same time, it will also get risks.
Existing technologies are already working to be ready for future changes, and this new technology plans to avoid as many risks as possible for each cryptocurrency user.
They are trying to create a strong enough security block to protect the public key cryptography so that these quantum computers cannot crack the public key cryptography, collapsing the world of these digital assets and their millions of users.
Some of the Security Measures of cryptocurrency projects against quantum computing are Zero Knowledge Proofs ( ZKP ), which constitute a considerable potential for resistance to quantum computing.
Even analyzing all these scenarios, quantum computing does not threaten the world of crypto assets.
Even so, it is necessary to be prepared for the future changes that this technological advance proposes. The future is definitely in the hands of technologies and a new digitized financial market.