QUANTUM COMPUTING VS BLOCKCHAIN – IMBA-Exchange
Practice crosses out any theoretical constructions that claim that quantum computing is able to “master” the blockchain. This is due to the limited capabilities of existing technical means and the ongoing development of the blockchain protection system. The technology that can compromise the work of the blockchain is becoming obsolete by the time of its appearance, it is constantly about ten years behind the development of blockchain technology.
The head of the laboratory of quantum computing John Martinis from Google also rejected the assumption that quantum computing could pose a direct threat to blockchain systems and cryptocurrencies in the near future. Martinis believes that the process of creating quantum computers will take at least a decade, and the practical implementation of effective quantum computing will require even more time. He believes that the creation of quantum devices “is really problematic and much more difficult than the creation of a classical computer”.
Andreas Antonopoulos official Twitter page:
He is convinced that the US NSA and other intelligence agencies will not use a quantum computer against bitcoin, even if they have such weapons.
Andreas Antonopoulos said:
“I’m not at all worried that the NSA might have a quantum computer, because the basic security law says: if you have a powerful secret weapon, you do not use it. You need a very significant excuse to use it”.
He cited as an example the decryption by the British cryptographer Alan Turing of the German military machine encryption Telegraph messages “Enigma” during the Second World War. The Germans used this machine, in particular, for secret communication in the Navy. The British government then decided to keep this success in the strictest confidence, and by any means to hide the source of information (it was removed from the communication channels). The British had even deliberately not to prevent the sinking of their ships by the Germans, because as soon as the enemy realizes the compromise of the codes used by him, he immediately takes measures to Refine its technology.
The question of the threat of quantum computing is not the existence of a quantum computer, but its power — the number of quantum bits (qubits). Special services at this stage of development can not have enough power to attack the Bitcoin blockchain. However, a really real problem will arise when quantum computers become commercially available, but not so much that everyone can use them in their bitcoin wallet. During this transition period, bitcoin will need to switch to new algorithms. It is not yet clear how this transition will take place.
Researchers estimate the exploitability of the ideas of quantum-secured blockchain, the essence of which is that the Central element in the protection technology of the blockchain to make the quantum technology of quantum communication. Quantum communications (or, more precisely, quantum key distribution) guarantee security based on the laws of physics, not on the complexity of solving mathematical problems, as in the case of public key cryptography. As a result, the quantum blockchain (it can be defined as a set of methods of using quantum technologies for calculations; the work of the quantum blockchain is based on the use of quantum communications to authenticate the participants of operations) will be invulnerable to attacks using a quantum computer.
Brennen and Tucker agree that quantum computing, at least on paper, definitely poses a threat to the security of blockchain networks. Feed her fears caused by the injection of panic sensational articles in the media. Tucker believes that the talk that quantum computing poses an immediate threat to the blockchain is distracting from the really important topics for discussion. The quantum threat to bitcoin cannot be completely excluded, but the level of this threat is estimated as minimal, especially if we take into account the high reliability of the network of this cryptocurrency and powerful incentives to ensure the highest level of its security.
Perhaps, from all this, it is possible to draw two conclusions. First, bitcoin in the current modification is really vulnerable to quantum computing. Secondly, it is equally obvious that there are and there will be many opportunities in the future to improve it. On the one hand, it is, in particular, alternative systems of cryptographic protection of transactions, and including on the basis of public key ciphers, on the other — quantum communication systems that guarantee the security of communication without the use of mathematics.
So quantum systems promise new means of protection of virtual currency blockchains. If we turn to ordinary money, it can be noted that as technological development is constantly evolving and their means of protection. Remember how to protect against counterfeiting of conventional paper money is constantly coming up with new and unusual technologies. From all this, it follows that from a technical point of view, crypto assets are for a long time, which makes their regulation useful.