Government and Big tech industries like Google and Microsoft are working on making quantum computers a reality. If successful, it could break the cryptographic security that protects cell phones, bank accounts, email addresses and — yes — bitcoin wallets.
It is no surprise then that cryptographers around the world are racing to build a quantum-resistant encryption protocol.
“If you had a quantum computer today, and you were a state sponsor – China, for example – most probably in about eight years, you could crack wallets on the blockchain,” said Fred Thiel, CEO of cryptocurrency mining specialist Marathon Digital Holdings.
For the moment though, your Bitcoin wallet is safe. And its likely going to remain that way.
Quantum Computers are being designed to be useful for humans, not to destroy. But with every new tech, there’ll always be those looking to take advantage.
We will see how this goes.
What do you think? Will quantum computers be a treat?
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