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In a recent Cointelegraph video, we assessed the risk posed by quantum computing to cryptocurrency, potential solutions, and what investors should do to protect their portfolios.
Imagine logging into your crypto wallet one morning only to find your holdings wiped clean. It might sound like a bad science fiction scenario, but quantum computing could turn this nightmare into reality sooner than you think.
In the latest Cointelegraph video, we break down the fundamentals of quantum computing, explain why cryptography could be at risk, and hear from industry leaders about the timeline for quantum supremacy.
Earlier this month, Google unveiled its latest quantum chip, Willow—a technological marvel capable of solving problems in minutes that would take a normal computer septillion years.
Experts warn it is only a matter of time before quantum computing technology reaches the capability to crack the Elliptic Curve Cryptography, which secures most cryptocurrencies, including Bitcoin (BTC).
“Once the perception—or rather, the confidence—in public-private key pair infrastructure is compromised, things are going to start going to zero very quickly,” warns Talos Foundation executive director John Lilic.
The danger lies in the exponential evolution of this technology, making preparation difficult.
“The problem with exponential processes is that it looks like nothing is really happening until the very end. And then everything happens all at once,” explains computer scientist and quantum mechanics expert Fabrizio Romano Genovese.
But how imminent is this threat? Can quantum computers really crack Bitcoin’s encryption in the next few years? In our latest video, we explore how close we are to this reality and what you can do to safeguard your investments.
Watch the full video to learn how you can stay ahead of the curve and protect your digital assets before it’s too late.
This article first appeared at Cointelegraph.com News
