Big statement thread title haha.
Watched click on the weekend, talking about Quantum computers, they're a long long way off. I enjoy science so understand the basic theory behind quantum physics, from quantum entanglement to Schrödinger cats theory.
If the binary digits can be both 1 and 0 at the same time means that any calculation can instantaneously be worked out.
therefor when and if we ever seen Quantum computers surely they could effectively solve the entire blockchain algorithm instantly.
That's my basic understanding. So effectively crypto is not really a future currency so to speak.
Any thoughts.... I'm probably complete wrong haha
It's all about the cryptography algorithm- there are
Quantum resistant encryption algorithms that aren't being used widely, but are being used by some organizations (namely intelligence organizations and research labs)- mainly because the overhead isn't worth it. Even AES can be Quantum resistant given a large enough key size. Sorry to burst the science fiction- QC will greatly increase computational capability but it won't lead to the ability to calculate all possible solutions to all possible mathematical problems instantly.