Will Quantum Computers Pose A Threat To BTC❓

in LeoFinance4 months ago

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Quantum computers can easily crack the current encryption system, so is Bitcoin still safe in front of quantum computers?

Simply put, a quantum computer is a computer based on the basic principles of quantum mechanics and has a powerful ability to process data in parallel. The calculation speed of a quantum computer is very fast, and the calculation process can be reduced by orders of magnitude. A calculation that a traditional computer cannot complete for billions of years can be completed by a quantum computer in just a few minutes. In front of quantum computers, our current encryption systems for emails, bank accounts, and confidential documents will all be easily breached. The encryption technology used by Bitcoin is basically the same as the encryption technology currently used by banks. So let's take a look at how the quantum computer can break Bitcoin?

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Bitcoin has two encryption lines of defense, the first is its mining mechanism

The essence of mining is to solve a mathematical problem, but this solution is not calculated by formulas, but constantly guessing, whoever guesses first can mine Bitcoin. So the only way is to increase the speed of guessing. For example, in one hour, you guessed 10 times, and I guessed faster, guessing 100 times or 10,000 times, then the probability of my guessing is greater than yours. The calculation speed of quantum computing is very fast, many orders of magnitude faster than current mining equipment, so quantum computing can monopolize mining. For example, an ordinary mining machine can guess 10,000 times an hour, while quantum computing can guess 100 million times or even 1 trillion times an hour. Obviously, ordinary mining machines have no chance at all.

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Bitcoin's second line of defense is its transaction signature

The transaction signature is used to authorize the transaction, which means that when you sign, your money is paid. Bitcoin transaction signatures use an asymmetric encryption algorithm. Asymmetric encryption means that the private key can derive the public key, but the public key cannot derive the private key. The private key is equivalent to your password. If someone takes your private key, they can take away your bitcoins. For quantum computers, once the public key is obtained, the private key can be cracked by the public key, and it can operate our assets at will.

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Now it seems that these two lines of defense can be easily breached by quantum computers, so is Bitcoin going to die?

The answer is absolutely no, none of this will happen!

First of all, quantum computing technology is still far from mature. Although Google has announced quantum hegemony, its technology is questionable. In addition, many experts have come forward, and it will take at least ten years for quantum computer technology to reach the level of breaking Bitcoin. So for at least ten years, Bitcoin will be safe.

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So, what about ten years later?

Let's analyze it from a non-technical point of view: I just said that the encryption technology used by Bitcoin is basically the same as the current encryption technology in the banking and military fields. If a quantum computer appears, it will attack these areas first, such as banks. Compared with traditional banks, Bitcoin is too small. If you use a quantum computer to total Bitcoin, it is like fighting a mosquito with an anti-aircraft gun. It is not worth the gain.

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So what if some people just have a fever in their foreheads, they are neurotic, and they are about to attack Bitcoin? The answer is still that Bitcoin is safe. There are two main reasons:

  1. The so-called magic is one foot high and Tao is one foot high. In this world, encryption is ahead of decryption, otherwise the world order would have already collapsed. Why do you say that, only if the encryption technology is adjusted a little, your decryption will increase a lot of difficulty. For example, if we set a password, add one more password, and it will have to be tried countless times to decrypt it. Therefore, encryption technology is constantly iterating and progressing. Quantum technology can be used for decryption and encryption. If you use quantum technology to encrypt, and you use quantum technology to decrypt, it may be hundreds of years later.

  2. As far as Bitcoin is concerned, it is not waiting for quantum technology to break through. It is dynamically adjusted. For example, it can increase the difficulty of mining and use one-time addresses. The Bitcoin community has brought together some top cryptographers and developers, and all miners will not sit still for their own benefit.

Therefore, the conclusion is that there is no need to worry about the so-called quantum computer, which does not threaten the security of Bitcoin.

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Bitcoin is powerful, not because of how powerful Satoshi Nakamoto’s technology is, nor how forward-looking Satoshi Nakamoto, but because of the open source rules set by Satoshi Nakamoto for Bitcoin, it can bring together the wisdom of all supporters , To maintain the stability of Bitcoin. Therefore, in a sense, what is powerful about Bitcoin is not its technology itself, but its distributed collaboration ability and its self-evolving ability.

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