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What Google's Quantum Supremacy means for Cryptocurrency

The threat of quantum computation has long grown tired of classical cryptography, providing the security behind most current blockchain networks. The search giant Google recently claimed that it has reached a milestone in quantum computation which can have serious consequences for cryptocurrency.

Does it challenge a real threat to Cryptocurrency?

In a new scientific publication, the tech giant Google claims to have reached "quantum supremacy" with a 53 kb quantum computer. This definition means that the machine has solved a problem that no classic computer could solve within a reasonable timeframe. The consequences of this can be so far-reaching that NASA removed the paper it originally published here, and has been reproduced here in a partially readable format.

According to reports, the new quantum processor took just 200 seconds to complete a task that would normally take thousands Google researchers wrote

"To our knowledge, this experiment marks the first calculation that can only be performed on a quantum processor."

In theory, this means that the computer can break 53-bit cryptography on some

Breaking Bitcoin?

Bitcoin cryptography is currently 256-bit encryption (SHA-256) while Elliptical Curve Digital Signature Algorithm (ECDSA) is used to create private and public key pairs. It will take a while before any computer, quantum or other, can break this, but researchers at the search company estimate that it may be possible in the next few years.

The report added that the number of qubits, the base unit for quantum information in a bi-state quantum mechanical system, could be doubled at least every year. This would surpass Moore's law and give the company a computer that could break military encryption by 2024.

An increase to SHA-51

2 or stronger encryption algorithms would prevent the search giant "breaking cryptocurrency" in the coming decade, but basically the technology has needs to be developed to maintain their safety.

There are already a number of quantum-resistant blockchains, so the RD&D headings are really just that. Bitcoin is not about to be broken by Google.

A more moving view is the growing power this company has. Google already dominates data flows across the planet and dictates practically what makes it news and what doesn't. It is the great overseer of the internet and operates with virtual impunity.

The company that said "was not evil" is already more powerful than most governments and with quantum computing technology at hand. the planet will be safe.

Will Google take over the world with its quantum computers? Add your thoughts below.

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