How does quantum computing work and what impact it might have on Blockchain? BTCMEX explains, as the latest IBM and Google research proves that quantum computing is no longer sci-fi.
Till now, encryption methods used in blockchain technology, are considered to be the safest for a large number of applications, however, a quantum computer is believed to have the potential to make what we believe to be the latest security breakthroughs obsolete.
The threat is only theoretical now, but let’s discover what technology is behind such a powerful tool as a quantum computer. Unlike traditional computers, programmed to read 0/1 codes, subatomic particles can exist in multiple places at once — called superposition — move forward or backward in time, and even teleport through so-called entanglements. Superposition means there’s a possibility of something in between 0 and 1.
Today, the leaders of quantum computing are United States tech giants IBM and Google.
There are two main approaches to address the potential quantum threats: whether to create a quantum-resistant layer to an existing blockchain protocol to increase its security or create a quantum-resistant blockchain from scratch.
Please note, that the article is a part of BTCMEX Blog, the views and opinions expressed here are the contributing author’s only, and do not necessarily represent the views of the company.
Julia Bulakh for BTCMEX