How Will Quantum Computing Affect Blockchain?
Insights on quantum computing, its potential risk for Ethereum, and the efforts underway to standardize quantum-resistant public-key cryptographic algorithms
“Science offers the boldest metaphysics of our age. It is a thoroughly human construct, driven by the faith that if we dream, press to discover, explain, and dream again, the world will somehow come clearer and we will grasp the true strangeness of the universe.”
Edward O. Wilson
We are discovering a new reality. Things that were once unimaginable are becoming real and part of our world. Achieving quantum supremacy is one of the monumental breakthroughs that will revolutionize history. But, what effect will it have on Ethereum? Cryptographer and blockchain researcher Amira Bouguera explains in this article.
Our journey to quantum computing begins in 1981 when the brilliant Nobel prize winner Feynman raised the following question at an MIT conference on physics and computation:
“Can we simulate physics on a computer?”
At that time, no one thought it could be possible. This comes back to the definition of physics and the limits of classical computers. Physics is the study of energy, matter, and the interaction between them. Our world, and reality in itself is quantum in nature; electrons exist in multiple states at once, and we can’t model that properly with classical computers. Calculating every possibility is just too much for them, for example:
Molecule with 10 electrons = 1000 possible states
Molecule with 20 electrons = over 1 million possible states
Feynman’s speech and accompanying paper in 1982 is the first work that explicitly discusses the construction of a machine that would operate on quantum mechanical principles. He discussed the idea of a universal quantum simulator, i.e., a machine that would use quantum effects to explore other quantum effects and run simulations.
Tech giants are racing to build the first quantum computer, a device with millions of times more processing strength than all the computers currently on Earth combined. This technology will harness the unusual laws of quantum mechanics to bring unimaginable advances in fields like materials science and medicine. Simultaneously, it could also pose the greatest threat to cybersecurity yet.
Recently, in an article published in the scientific journal, Nature, Google announced that it has realised what was once thought to be impossible: achieving quantum supremacy.
Find out which quantum-resistant public-key cryptographic algorithms are being tested on ConsenSys.net →
Disclaimer: The views expressed by the author above do not necessarily represent the views of Consensys AG. ConsenSys is a decentralized community with ConsenSys Media being a platform for members to freely express their diverse ideas and perspectives. To learn more about ConsenSys and Ethereum, please visit our website.
