It has been explained to me, albeit, in layman's terms, that one of the reasons our modern cryptography works so well on classical computers is that they rely on prime factorization which classical computers don't do so well. This has been key to maintaining our computers and networks secured. One of the things Quantum computers do better than classical computers is prime factorization. How will the advent of Quantum computing impact cryptography? Will technologies like blockchains and bitcoin be affected?
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A month later, a Cointelegraph article echoed my concerns, stating that powerful quantum computers could pose a challenge to all blockchains that use the ECDSA (Elliptic Curve Digital Signature Algorithm), including Bitcoin and Ethereum.