This sounds ground breaking to me because I thought of it and nobody had to tell me I did some research. I dont know it all but quantum physics is ringing like a siren in the back of my head. So I brought that to the front. I know they had recently succeeded in quantum teleportation of information. Any thought?
Quantum physics and quantum computing are related, yet not the same.
Quantum mechanics has been developed for over 100 years, and no one understands it! Scientist are still trying to make sense of things in a practical manner, even though quantum effects can be observed.
You do hear a lot of buzz around quantum computing. This uses quantum mechanical effects, typically quantum superposition and quantum entanglement to provide computation. This has little application in standard computing for most of the computer tasks you would do day to day, as standard computers are much better than current quantum computers at these tasks.
Once quantum computers become more efficient and significantly more capable (more qubits), the conversation may change. Even now, with Shor’s algorithm, brute force attacks are only minimized. These computers still can only brute force attack long length key encryption like SHA256, though the time is greatly reduced relative to classical computers.
Any more efficient algorithm will still have to be developed even when quantum computers become capable enough, and may take months or even years to get working once the tech is available.
Keep in mind that quantum key encryption is also being worked on, and that the tech underlying cryptocurrency is also evolving. These protocols could easily switch to quantum resistant algorithms; development of the tech will happen simultaneously with bad and actors alike. This should motivate cryptography users, not just cryptocurrency holders, to ensure that proper development of the tech is greater than those trying to break cryptography. As always, the longest chain wins, just like blockchain!
All in all, it will be very interesting to watch the space develop, as discoveries today can change everything!
I hear the word quantum thrown around a lot when it really doesn’t apply the way many hope or believe it does. It is a placeholder for “future bogeymen” arguments. I’ve heard it explained very different ways and still don’t see a correlation to the methods we use to secure blockchains. In terms of creating a usable cryptography cracking tool, the decades-long developments necessary to bring quantum computing to this shaky ground from which to launch an attack would lead to the reactive and simple patching of any blockchain that would be attacked.
It is mostly inapplicable for now, the two computing systems operate with very different methods, and I don’t think we understand all of the implications yet with the quantum computing tech. We barely understand some of these Frankenstein Defi projects and their implications.
With quantum entanglement, I guess in theory you could simultaneously physically attack all of the BTC nodes at once to destroy hardware, or given the ability to send a payload of some kind, disrupt the signals coming in and out.
It is certainly worth considering, and perhaps hardening many of our blockchains by operating clandestine nodes, and backups, and etc could assist us in avoiding any unknowns.
Brain hurts now,
We are the quantum bits.