In recent years, there have been serious questions regarding quantum computing. More specifically, many people wonder how this will affect bitcoin and other cryptocurrencies.
To this date, the answer to that question remains unknown.
Quantum Computing and Bitcoin
Deloitte, however, expresses serious concerns regarding bitcoin in this regard.
The firm claims how up to 4 million BTC may be subject to a quantum computing attack.
All of the pay to public key addresses holding bitcoin can be attacked.
The public keys of these addresses are shared by default and can be used to derive a private key.
Thankfully, most addresses currently adhere to the pay to a public key hash standard.
These addresses only expose public keys once a transaction occurs.
That does not mean those addresses are completely safe from harm either.
They are simply less susceptible to potential quantum computing attacks.
Until an actual quantum computer is built, however, these concerns are not necessarily pressing.
It is crucial to keep them in mind, particularly if there is some valid research capable of highlighting the potential dangers.
Protecting against quantum computing will be crucial this decade and the next.
There is also a need for projects to implement completely different countermeasures.
If every project takes the same approach, the efforts will be nullified sooner rather than later.
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