The science team at the University of Technology Sydney's Centre for Quantum Software and Information tells about a very distressing situation that might emerge once quantum computers become widespread.

Quantum computers are still at their dawn, but in the year 2027, they will evolve enough to become capable of hacking modern cryptographic means which cryptocurrencies have installed. The paper dedicated to this called Quantum Attacks on Bitcoin and How to Protect Against Them has been published online at the beginning of this month, but went largely unnoticed by the cryptocurrency community.

What could be done today to prevent threats of tomorrow? The researchers offer developing PoW (Proof-of-Work) methods which...Read more