Cryptocurrency cryptocurrency by Quantum Computing? The researcher says it could break Bitcoin cryptographic hashes

Technology has come a long way. While many laughed at Charles Babbage and his staggering engine of the Difference, in less than a century it became a revolutionary invention. From there the vacuum tubes gave way to the transistors. Just when it was thought that a plateau had been reached, quantum the computers broke the mold. And now some experts believe it could break the nascent blockchain industry.

For those who do not know, quantum computing is the use of various quantum-mechanical phenomena for information technology. The basic process differs from a normal computer. While normal computers are based on transistors and work with binary switches in a digitized environment, quantum computers work using quantum bits or "qubits" that exist in overlap, a state of one simultaneous and one zero. And now this power could be exploited to break the cryptographic hashes of Bitcoin.

What's the problem

In a recent interview, Wander Cunha, head of the digital business unit at Indra Sistemas, discussed this concern. He emphasized that hash codes were solid cryptographic solutions that were almost unassailable by conventional computers; quantum computers may not find it so difficult and may even succeed within a few years. This could be a turning point for the entire encryption system. Reason: "Quantum machines are very efficient in the execution of brute force algorithms, such as factorization of prime numbers and search in unordered lists".

What is the solution

Wander believes that at the moment the central problem is the size of the keys. They have to be increased to gain more time to deal with this problem. The long-term solution must be to be able to find new encryption methods. These future developments are essential to have any hope of resisting the power of quantum computing, in fact, he believes that a deepening of the risk management aspects of the sector is necessary from a financial approach.

The IT expert also predicted that the fate of quantum computers. Similar to computers, hardly thought of as valid for mass development, up to the 80s. These machines should reach the market for general public procurement as soon as the next decade, with some expensive and lower processing power models already available.

This is not all sad and obscure as it may seem at first. The blockchain industry has a lot to gain from this. The exponential potential of quantum calculations can significantly improve the speed and development cycles of the sector. For example, the DWave computer that was recently purchased by arms manufacturers, Lockheed Martin. The new system was used to search for and fix hardware problems in a few weeks that would normally take many months. He ended the conversation with,

"We understand that the benefits of using the quantum computer will be crucial in research and development, especially when applied to solve a problem in a very short time, such as simulation and optimization of processes such as aircraft construction. safer".

It is hard not to be enthusiastic about the possibilities offered here. If this is for the improvement of the sector or ends up destroying it, it is a matter of pure conjecture at this stage.