China's New Quantum-Computing Security Cryptocurrency Technolgy

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Explanation of the technolgy:
https://www.analyticsinsight.net/china-is-the-king-of-the-blockchain-industry-new-technology-eradicates-all-quantum-attacks/

https://asiatimes.com/2021/12/quantum-hackers-can-bring-down-bitcoin-expert/

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Quantum computing is a threat to all existing computer systems, including cryptocurrency. Quantum computers are being developed by companies and world goverments, and pose a serious threat to all existing computer systems. A quantum computer can perform operations and calculations faster than any other computer currently in operation, and this puts current encryption technolgy at risk. China has been hard at work on a quantum-resistant blockchain that is called Chang'An Chain.

China is working to overcome the threat that quantum computers pose to their computer systems. ChainMarker has created Chang'An Chain technology with the intention to stop the threat of quantum computers on blockchain applications. The technology was developed in partnership with the Beijing Academy of Blockchain and Edge Computing, and you can read about the specifics at the link above. The blockchain technolgy is designed to move money between financial institutions, and because of the implications, quantum computing must be taken into account. The algorithm used and system are designed to be simple enough to use and avoid disruption by the quantum computer.

Bitcoin and the approximately $3 trillion in cryptocurrency assets are at risk to quantum computer attacks. Because of the speed of operation, the encryption of cryptocurrency keys could be broken before anyone is aware, and billions could be stolen. I essence, the existence of quantum computers under the use of hackers could disrupt the cryptocurrency industry and bring the market to it's knees. We need to ensure our assets are protected. Bitcoin itself could be brought down by a group of hackers dead set on disruption and the entire industry could lose credibility until the threat is addressed.

As cryptocurrency fills more roles in remittances, goverment currencies and defi applications we need to address the threat of quantum computers. If cryptocurrency will have a place in the future, it will need to adapt to both threats and opportunities. Smart contracts, NFTs and cryptocurrency all need to address this threat and not take it for granted.

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