Blockchain technology is rapidly gaining massive traction and trust from users globally, a decentralized technology that allows anyone around the world to have access to the technology without any border restrictions, the permissionless protocol is claimed to be growing at an exponential rate although there has been opposition on the use of blockchain in the finance sectors for promoting illicit money laundering activities, bitcoin mining consumption of high electricity, unfriendly environment hazard and a boost for increased terrorism in different countries.
Although blockchain technology is considered one of the most secured technologies today with its immutability of unaltered database stored on blockchain decentralized ledger, this is a solution that is short-lived as quantum computers are been considered a threat to the advanced technology with the emergence of a quantum computer is said to disrupt blockchain security making it easy for decentralized private keys to be cracked easily with the use quantum computers.
Dawn of quantum computers
Billions of dollars are been invested by different institutions to make quantum computers a reality although this technology is to be expected 10-15 years from now. Unlike traditional supercomputers, quantum computers harness the use of quantum physics to solve complex problems it can simulate complex problems easily that are difficult to solve by supercomputers the super ability of quantum computers to analyze complex problems has left developers puzzling about the threat it can impose on blockchain encrypted keys there is speculation it invention will end blockchain security attacking crypto address and authorizing transactions on users wallets. Quantum computer storage attack will make crypto holders' addresses vulnerable thereby using stored public keys of these addresses to steal users' crypto millions of billion worth of crypto might likely be under attack.
Concerns are with quantum computers blockchain cryptographic encryption might be broken which can lead to the bridge of users data leading to loss of users funds.
The future of blockchain and quantum computer
This led to an important question will quantum computers merge with blockchain technology and become the world's most secure network probably this could be possible as both technology are still in their early development stage. quantum computers are also believed to solve mining problems as they can be used to run mining nodes effectively and even faster than current mining ASIC hardware quantum blockchain will replace Byzantine agreement protocol problem preventing 51% attack on the network.
With blockchain and quantum combined a more secure protocol will emerge that will counter theft security problems, and the future of finance and data storage processing can be more secure.
What are your thoughts on the future of blockchain do you think quantum computers will impose threats on blockchain technology?