As a researcher with over two decades of experience in the realm of technology and cryptography, I find myself intrigued by the recent developments in quantum computing. The news about Google’s Willow chip has indeed sent ripples through the crypto community, raising valid concerns about the potential vulnerabilities it might uncover.
This week, various global, technological, and cryptocurrency happenings took place, but among the most buzzworthy was Google’s announcement about Willow – their new quantum chip. In just five minutes, this computer tackled a problem that even the swiftest supercomputer would require 10 septillion years to solve.
The information pertains to cryptocurrencies, suggesting a possibility that these devices might breach the security of blockchains and digital wallets, thereby compromising their safety.
Until recently, the idea that quantum computers could potentially disrupt cryptocurrencies was often debated but not given much credence. However, recent news from Google has added weight to this theory and contributed to the selling off of approximately $2 billion worth of crypto trades.
In light of recent events, there’s been a lot of debate over whether this danger is genuine. Even Craig Wright, an Australian entrepreneur mired in controversy and known for claiming he’s the inventor of Bitcoin (Satoshi Nakamoto), has joined the discussion.
“Bedtime story”
Actually, according to Wright’s latest update on social media, there’s no need for the crypto community to be concerned about quantum computers.
According to the individual who claims to be Satoshi Nakamoto, there are no ways to crack or bypass the Bitcoin system. Even if quantum computers were available, they wouldn’t be able to solve the hash problem related to Bitcoin, as claimed by Wright. He suggests that all the hype and rumors about breaking Bitcoin are just false information.
He clarifies that a quantum computer won’t crack a hash, and all such assumptions are essentially just “fables meant to make some feel intellectually superior.
Nevertheless, a significant concern persists about security matters, as some speculate that quantum computers might effortlessly decipher a private key from its public counterpart. While some cryptographers argue that this is highly unlikely, they also acknowledge that such an event can’t be definitively ruled out in the future.
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2024-12-12 16:27