MIT Review Report says Quantum Computers Aren’t a Danger to Bitcoin

• Ayushi Abrol
• April 01, 2022

With his latest opinion piece for Technology Review, Sankar Das Sarma, a physicist from the University of Maryland has brought a sigh of relief to the global crypto community. Shunning the overhyped speculations for Quantum Computing, the expert in his detailed article has clarified that quantum computing is far away from a stage where it can intrude into the decentralized blockchain ecosystems like Bitcoin. The physicist emphasized that quantum technology is still not at a level required to trace down the public key cryptography which forms the core infrastructure of crypto projects.

As shared by Sarma, the cryptography used in Bitcoin is likely to remain risk-free and impenetrable from quantum computing. He mentioned that Quantum Computing has gained unexpected popularity amongst people and has emerged as the second most talked-about terminology for the GenZ after Artificial Intelligence. Despite the constant fund flow for the research and development operations in the quantum field from tech giants like Microsoft, Alphabet, Amazon, etc. there has been no substantial development in the sector when it comes to product launch.

The expert confirmed that there are multiple applicational uses for quantum computers such as the use of the technology for finding prime factors of large numeric values at a higher speed than the traditional tools. He explained that this remains the prime focus of breaking RSA-supported cryptography which is used for emails and crypto transactions. The quantum computing realm has received critical attention and capital flow from government authorities worldwide. He skeptically remarked that what remains, in theory, need not find its way into practice easily.

Talking about the present issues, Sarma revealed that the present quantum computers have plenty of noise-making physical qubits that are used for a process called quantum error correction. A computer that can decode the RSA cryptography world needs many millions/billions of qubits. The use of private keys offers incomparable security to transactions for users. Interestingly, a private key can connect with a compatible public key quaickly, however, it is next to impossible to decode a private key merely by knowing a person’s public key alone. This makes it essential for the users to keep their private keys safe from others. When investors do not act smart while hiding their private keys, they lose their funds to malicious intruders.

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