Will quantum computers soon destroy Bitcoin?
Quantum computers are considered a threat to Bitcoin. Two scientists have done the math: Do quantum miners have an advantage over classical miners? And if so, does this pose a threat to Bitcoin?
Bitcoin and quantum computers: we’ve had this topic a time or two, and it’s been ghosting along with Bitcoin since the beginning.
Do quantum computers threaten Bitcoin? Will a quantum computer one day arrive and empty all wallets and mine away all Bitcoins through its superior computing power? Some say yes. In the long run, this could happen. Others say no, there won’t be an ounce of worry for a very long time.
We have already written about quantum computers, Bitcoin, and the signature algorithm ECDSA. Today we take on a paper in which two Canadian computer science professors analyze whether there is a danger from quantum miners, and if so, what it is.
The topic is not trivial, especially for mathematical laymen. But because it’s exciting for anyone interested in Bitcoin and the future of computing, I’ll try to present the paper as simple as possible.
