Quantum computing is a threat to blockchain and cryptocurrencies

Top managers of the technology giant IBM said that quantum computing was a threat to digital currencies and the cryptography which were used in blockchain systems. This is reported by Coindoo.

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So, the head of the blockchain-IBM direction Jesse Lund stated: “It’s reverse engineering the private keys which represent the control of your wallet. Your public key is essentially your wallet which holds balances. And I think that’s a real, credible threat. Bitcoin is a public ledger.”

Lund noted that quantum computing would be able to calculate private keys using public ones as a template in the future. Thus, according to him, more than half of the existing blockchain systems will be susceptible to this threat.

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