Quantum computing has been on the tech radar for some time now, but it has also been lurking in the background of the blockchain ecosystem for very different reasons.
Bitcoin.com:"The notion of Google achieving a quantum breakthrough sounds very dramatic, but in reality, it's hard to gauge the significance at this time. How can we be sure that Google's quantum computer is more powerful than D-wave's, for example, which surpassed 1,000 qubits four years ago?"
"We should definitely be worried," he told me,"Many IT professionals and CTOs, including the earlier m, are neglecting and denying quantum computing threats with the simple reasoning that once it's seriously coming, we'll have to redesign almost everything from scratch, and that must surely be a long time ahead."
"In cryptography, it's best to prepare for the worst, and one can observe in recent literature that past skeptics now instantiate their crypto protocols in a post-quantum setting - just it case. Users shouldn't worry now, but experts should prepare before it's too late." "Blockchains won't be ready for such a breakthrough. Since transaction history is the backbone of blockchains, such an improvement in quantum computing could be catastrophic for the whole transaction history," added the CTO."There is an extra layer of protection with Bitcoin's double hashing but assuming a quantum computer is capable of Shor on secp256k1 it's safe to assume it's also capable of Grover256.
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