How serious is the threat that quantum computing poses to blockchain technology, and what can be done about it?
The science of quantum physics is being used to build quantum computerspowerful machines that have the ability to solve incredibly complex mathematical equations much more quickly than even the most advanced computers available today.
As such, any data thats encrypted using mathematical equationsincluding banking data, intelligence data protected by the government, and encrypted messages on cell phonesis vulnerable to being exposed by quantum computing. Most notably, in this case, encrypted cryptocurrency datasuch as private wallet keysare also vulnerable to quantum computing technology.
Is Bitcoin doomed?
This topic has been discussed lots of times here in the forum and answers differs all the time. But well, I don't think bitcoin enthusiasts and bitcoin doesn't have to worry and be threatened about quantum supremacy that google claims they've already achieved. Yes, there is a possibility that the quickest computer could decrypt whatever's encrypted with regards to bitcoin, but quantum computers isn't made for that. People who are in-charge of handling it uses it for research and matters that is more than destroying bitcoin, so if there is somthing to be worried about, its something with regards to the intention of whoever is in-charge of the quantum computers.