Bitcoin and blockchain expert Andreas Antonopoulos isn’t buying into the fear, uncertainty and doubt over Google’s “quantum supremacy.”
Google has reportedly built a quantum computer that can process certain calculations faster than any other computer on earth. The breakthrough triggered concerns of a hypothetical device powerful enough to crack modern forms of encryption – spelling trouble for Bitcoin and the thousands of other cryptocurrencies that are based on blockchain technology.
In a YouTube video released on Thursday, however, Antonopoulos threw cold water on that idea.
“What is the effect on mining and the crytocurrency world in general? Zip, bupkis, nada, nothing really happens. Quantum supremacy – what Google described – is demonstrating the practical applicability of quantum computers to certain classes of problems. Those classes of problems are not the same class of problem we’re talking about when we talk about breaking cryptography.
And that’s a really good thing because, hey, you know the problem isn’t really Bitcoin. If we get quantum computers that can do thousands of qubits without correction and with consistent results, we have a much bigger problem, and the bigger problem we have is the entire world’s classified communications, confidential communications, financial systems, etc, all depend on classical cryptography today. Read More...