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kecia.
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December 19, 2021 at 4:05 am #29363
kecia
ParticipantIt is possible to create algorithms that run significantly faster on a quantum computer than a classical computer, due to the unique properties of qubits.
These algorithms could be used for a number of different scientific and business applications, and will bring many benefits.
Some of these algorithms have already been tested and proven on prototype quantum computers, but will not be practically useful or economical until larger quantum computers have been built.
Security of Cryptocurrencies in an Era of Quantum Computers
Although quantum computers are largely theoretical, some studies show that developments in the quantum computing space double every eighteen months.
Therefore, it is imperative that the blockchain and cryptocurrency community start preparing for a quantum-supremacy future.
Notably, quantum computing will impact how information is stored and manipulated.
Quantum computing will particularly affect those technologies that depend on cryptographic digital signatures for data security, including cryptocurrencies.
For example, experts agree that users whose jobs are to protect the cryptocurrency algorithms will have to modify their public and private keys once quantum computing becomes more prevalent.
Currently,public keys on blockchain transactions rely on elliptic-curve cryptography (ECC) for protection.
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