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?
In the cryptocurrency community, there is a nagging fear of quantum computing. Is it possible that it can decrypt cryptocurrencies and the encryption that protects them? I'm not sure how close that is. Do the headlines about "quantum superiority" imply that my personal information is at risk?
The short answer is no. But let's take a closer look at this phenomenon and try to figure out why this is the case and how quantum computing works.But let us delve a little further into this phenomenon to see why this is the case and how quantum computing can deal with cryptocurrencies.
To begin, let's describe quantum computing and the classical computing we're all familiar with, and see how the two terms compare and contrast. Quantum computing is similar to “classical” pre-computer computing in terms of paradigm.Quantum computing is approximately equivalent to "classical" pre-1900s physics and "modern" physics, which includes Einstein's relativity and quantum physics insights.
As a result, quantum computers are not uniformly better than classical computers, which will be immediately important to the debate. When people talk about "quantum dominance," as stated by Google GOOG -2.4 percent and/or China, they just mean that a quantum machine will perform a task better than a classical computer, possibly one that is impossible to perform for any purpose.