One of the attractive properties of Bitcoin, as crypocurrency, is that it is cryptographically secure from being hacked by the computing power of current technology computers. In theory, it will remain safe until a giant leap in computing power becomes a reality, like quantum computers. A recent one discovery by Google researchers seems to mean that this day is coming soon, but those who know better say that there is still no reason to fear.
The Financial Times recently reported that its quantum computer Google can calculate the answer to an equation that on an advanced conventional computer would take 10.000 years to solve.
Before concluding that Bitcoin is not safe and headed to its "death", the limits of Google's research must be understood. This is not a quantum computer capable of solving anyone problem. It was built to solve a specific and highly technical problem and has no use beyond that. The researchers concede that even from their own estimates, the solution to practical problems is far from over.
So Bitcoin is safe from Google's computing power, even from its own estimates, for some time. But will the quantum computing threat be for cryptocurrencies?
According to Dr. Craig Wright, creator of the original Bitcoin and its current form, Bitcoin SV (BSV), it seems unlikely. “Large-scale quantum computing is not, however, analogous to classical information technology", Says in his book" Bitcoin and Quantum Computing "released in April by 2018. "When the first classic computers were released, it took big, expensive machines to make them simple. calculations. As time goes on and in parallel with developments in technology, classical computing has led to rapid developments and the computing power available has increased. "
While conventional computers are now common, quantum computers will remain specialized. "It is unlikely, in fact, very unlikely to ever create any small low-energy quantum computer," he explains. “Doing so is not just a matter of discovering something new technology but that our existing knowledge of physics and particles must be incorrectly aligned with reality. The result is that quantum computing, even if possible, will remain in the realm of large data centers and government facilities. ”
In this way, Google is a very large data center and not yet close to breaking the quantum shell information technology. Fear that one hacker could suddenly convert quantum computation against Bitcoin is not reasonable.