Could Quantum Computing Hack Your Bitcoin, Ripple, or Any Other Cryptocurrency Wallet?

Could quantum computing disrupt cryptocurrency? Yes, actually they could! Google is building a quantum computer that is 100 million times faster than traditional binary computers. That poses a real threat to cryptocurrency users because private keys could potentially be “guessed” by a quantum computer. If that were to happen, the hacker could create transactions to move coins wherever he/she wanted.

So, what does that mean for us? Fortunately, Google has pointed out that there are some significant difficulties with building quantum computers, namely the stability of “qubits”, which are the quantum cousins of “bits” of data in binary computers that you are already familiar with (think “8-bit” games). The difficulties associated with creating qubits have led to various predictions about how long it will take to create a quantum computer, with ideas ranging from 15-20 years all the way down to within the next decade. In any case, cryptocurrency developers are aware of this technological development and are confident their platforms will be able to adapt to the fast-changing technological landscape.

Watch today’s video for an explanation of quantum computers and the possible impact on your crypto!

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Could Quantum Computing Hack Your Bitcoin, Ripple, or Any Other Cryptocurrency Wallet?

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