News that two teams of Chinese scientists have achieved quantum advantage — a technical term for when a computer can perform functions beyond that of a classical computer — may be the signal that we have truly entered a new era. While Google’s 54-qubit quantum processor, Sycamore, became the first widely known example of early-stage quantum computing, the latest news out of the University of Science and Technology of China in Hefei is the best proof yet that we have crossed the information rubicon.
But despite many reasons to be excited by these developments, there are reasons to be concerned, too. While we might all eagerly await the day when we can predict traffic jams, consign animal testing to the history books, or pinpoint someone’s likelihood of getting cancer and then engineer a unique treatment — all in seconds — its tremendous power has a dark side.
Perhaps most terrifying for a society so reliant on the internet, quantum-level computing puts all of our digital infrastructures at risk. Our contemporary internet is built on cryptography — the use of codes and keys to secure private communication and storage of data. But for cryptocurrencies like Bitcoin (BTC) and Ether (ETH), for whom this concept is fundamental, one sufficiently powerful quantum computer could mean the theft of billions of dollars of value or the destruction of an entire blockchain altogether. With digital signatures suddenly easily forgeable, the very concept of wallet “ownership” will seem quaint.
Continue reading: https://cointelegraph.com/news/without-quantum-security-our-blockchain-future-is-uncertain
But despite many reasons to be excited by these developments, there are reasons to be concerned, too. While we might all eagerly await the day when we can predict traffic jams, consign animal testing to the history books, or pinpoint someone’s likelihood of getting cancer and then engineer a unique treatment — all in seconds — its tremendous power has a dark side.
Perhaps most terrifying for a society so reliant on the internet, quantum-level computing puts all of our digital infrastructures at risk. Our contemporary internet is built on cryptography — the use of codes and keys to secure private communication and storage of data. But for cryptocurrencies like Bitcoin (BTC) and Ether (ETH), for whom this concept is fundamental, one sufficiently powerful quantum computer could mean the theft of billions of dollars of value or the destruction of an entire blockchain altogether. With digital signatures suddenly easily forgeable, the very concept of wallet “ownership” will seem quaint.
Continue reading: https://cointelegraph.com/news/without-quantum-security-our-blockchain-future-is-uncertain
