Quantum computers will crack the Bitcoin code in 10 years

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• The SHA-256 algorithm from Bitcoin makes it extremely difficult to penetrate the Bitcoin code.
• but when quantum computing hardware makes a growth leap compared to normal transistorchips, you can break into the Bitcoin code until the next decade.

The Bitcoin blockchain is considered one of the strongest blockchain platforms that are currently on the market. While attackers have tried to crack the Bitcoin code in the past, they have not achieved great success. The decentralized and distributed ledger from Bitcoin makes it even stronger with the increasing number of participants.

the latest research shows that a quantum computer will only need 10 years to crack Bitcoin's safe cryptographic algorithm. Mark Webber, a quantum computer graduate of the Ion Quantum Technology Group at the University of Sussex, published a report together with his colleagues.

The study carried out by these graduates came to the conclusion that quantum computers must be larger millions of times than the current status so that they can crack the SHA-256 algorithm from Bitcoin. The Ion Quantum Technology Group actively researches quantum computing and other microwave quantum sensors.

As we already said, Bitcoin's blockchain maintains a very high degree of encryption that makes it difficult for everyone to crack the code. According to the theory, attackers have to collect 51 percent of the combined computing power of the Bitcoin blockchain network in order to crack its "unchangeable" major. As is well known, crypto enthusiasts call it the 51 percent attack.

can quantum computers really crack the bitcoin Ledger?

Every transaction in the Bitcoin Ledger receives its own cryptographic key. This is nothing more than a random episode of letters and numbers that are susceptible to a very limited period of time. So far, nobody was able to apply enough computing power to decipher the Bitcoin key.

But that is also not impossible! Weber states that you can break into the Bitcoin code if enough computing power is provided. The researcher adds that if a attacker receives a ten-minute time window to crack the Bitcoin key, he would need a quantum computer with 1.9 billion elements. However, if the key becomes vulnerable for 24 hours, this number should drop to 13 million qubits.

At the moment, the world's largest supercomputing quantum computer on the market is the 127-qubit model from IBM. This shows that quantum computers are still far from reaching the threshold to break into the Bitcoin code.

In the world of traditional computers, the moor law law says that the number of transistors in a microchip doubles every two years. At the same time, the computing costs are halved. Thus, over time, ever higher computing power is available at affordable costs.

In the world of quantum computers, Neven's law replaces the moor law law. This law states that quantum computer performance "grows twice as an exponentially" compared to conventional arithmetic. So if quantum computing hardware improves exponentially faster than normal transistor circuits, one day it can crack the Bitcoin code.

Well, it is only a question of how long it takes for us to break into the Bitcoin code. Webber believes that this will be possible in the next ten years. If this happens, will Bitcoin lose its shine and collapse?