/biz/ - Business & Finance

>>29964776
Apparently some crypto is future proofed for that but I guess we'd have to wait and see to find out if it's true

>>29964821
I suppose, but I would imagine it would trivialise btc mining or other mining endeavours that use computing power to bruteforce a solution.. of course the worry is private keys/passwords at worst

>>29964776
ETH 3.0 will fix it bro

>>29964776
Once we reach a point in QC that allows us to fuck over crypto, the world will change massively. Any data point can be unencrypted, any passwords or secluded file storage could be hacked. Crypto's getting fucked would only be the start. Of course Quantum computing changes the world forever and brings us closer to the technical singularity.

In short, worrying about this is like worrying about an asteroid hitting earth, its gonna happen eventually but by the time it happens we will all be dead and or the wworld will be completely different.

>>29964776
add tether+china ban or it wont work anyways...

>>29965162
Aye I guess you're right. Once you've got one password you've got them all really. I only bring it up because people talk about long term crypto adoption and development on a 3 year or even a 10 year time frame but that is a fucking long time in tech and I wonder if QC is much further away than 10 years from being a threat

>>29965291
A lot longer than 10 years. Right now we are like in 1890's Computing. Creating the first ever Tabulating machine. Creating a QC that is a threat is a far away. As far away as Nuclear Fusion for unlimited energy

>>29964776
memes aside, I don't understand what goes on in the mind of smoothbrains. They freak out about crypto whenever quantum computing is mentioned, despite quantum computing being a solved problem in crypto (fork, move to quantum resistant algorithm). And they don't worry about all the companies, hospitals, airports, local power infrastructure, water supply running on legacy systems with no clear upgrade path to anything quantum resistant

>Bitcoin and even other cryptocurrencies and their history are filled with examples of hardware and software changes that had to be made to make the network more secure and performant — and good security practices in the present (avoiding wallet reuse) can help prepare for a more uncertain future.
>So quantum computers being added to the mix won’t suddenly render classical modes of encryption useless or mining trivial — “quantum supremacy” now doesn’t mean that your encryption or the security of bitcoin is at risk right at this moment.
>The real threat is when quantum computers become many scales larger than they currently are — by which point planning for post-quantum encryption, which is already well on the way would come to the fore, and at which point bitcoin and other cryptocurrencies can soft fork — and use both decentralized governance and dynamism when needed in the face of new existential threats to defeat the threat of “quantum supremacy”.

Post-Quantum Cryptography PQC
https://csrc.nist.gov/projects/post-quantum-cryptography

Committing to quantum resistance: a slow defence for Bitcoin against a fast quantum computing attack
https://royalsocietypublishing.org/doi/pdf/10.1098/rsos.180410

Are hash functions strong against quantum cryptanalysis and/or independent enough of mathematics?
https://crypto.stackexchange.com/questions/59375/are-hash-functions-strong-against-quantum-cryptanalysis-and-or-independent-enoug