With the steps forward that quantum computing is making will it mean the end of crypto as we know it once quantum computing become a reality?
I mean it effectivly makes encryption useless, someone with a quantum computer could just brute force a private key from a public key in no time. This will kill every crypto currently out there.
Do you think we will see new quantum cryptos released once the technology is ready? Or do you think Bitcoin will adopt a new layer of quantum security if that is even possible?
I'm by no means an expert on the subject but unless the good guys get their hands on some form of quantum computer before the bad guys it kind of puts a ticking timer on the whole crypto industry. That's if an extra layer of quantum encryption can even be implemented in some way for Bitcoin.
If not, then I guess we better time it just right and get the f**k outta here at the right time.
Thoughts?
I mean it effectivly makes encryption useless, someone with a quantum computer could just brute force a private key from a public key in no time. This will kill every crypto currently out there.
Do you think we will see new quantum cryptos released once the technology is ready? Or do you think Bitcoin will adopt a new layer of quantum security if that is even possible?
I'm by no means an expert on the subject but unless the good guys get their hands on some form of quantum computer before the bad guys it kind of puts a ticking timer on the whole crypto industry. That's if an extra layer of quantum encryption can even be implemented in some way for Bitcoin.
If not, then I guess we better time it just right and get the f**k outta here at the right time.
Thoughts?
It is not the way you put it. We have quantum resistant cryptographic algorithms out there, already:
https://en.wikipedia.org/wiki/Post-quantum_cryptography
I'm specially a fan of this one:
http://ieeexplore.ieee.org/document/6337933/?reload=true
Quantum computing is too immature to be considered a vulnerability for at least this decade and when it happens to be ready, we are ways ready. Just don't panic.
Great resource! Thanks for sharing that. So I take it that if post-quantum cryptography is already being worked on in order to be prepared then that extra layer of security can be written into the Bitcoin code, even that far down the road?
Panic over I guess