Bitcoin Safe From Quantum Computers, Says Craig Wright

U.Today - This week was marked by several events in the world, technology and cryptocurrencies, but perhaps the most hyped was the news about Willow, a new quantum chip developed by Google (NASDAQ:GOOGL ). This computer solved in five minutes a problem that would take the fastest supercomputer 10 septillion years.

This news is related to cryptocurrencies such that it is assumed that such devices will be able to easily hack into blockchains and crypto wallets, destroying their security.

Previously, the theory that the emergence of a quantum computer could threaten the existence of cryptocurrencies has been actively discussed, but nothing like this has been taken seriously until now. The news from Google shook the market and, as a result, became one of the reasons for the liquidation of at least $2 billion in open positions of crypto traders.

Against this backdrop, many have begun to speculate whether the threat is real. Craig Wright, the scandalous Australian businessman who claims to be the creator of Bitcoin , Satoshi Nakamoto, was not left out.

"Bedtime story"In fact, Wright said in a new social media post that the crypto community should not worry about quantum computers.

Why not? Because, according to the self-proclaimed Satoshi, they do not exist, and even if they did, quantum computers and Shor's algorithm do not solve the hash problem. They do not touch it, they cannot break it, and all the noise around it is just a bunch of lies, says Wright.

He explains that a quantum computer will never break a hash, and all the speculation about it is nothing more than "a bedtime story for people who want to feel smart.

However, there remains an unresolved issue regarding key security, if it is believed that quantum computers can easily extract a private key from a public key. According to some cryptologists, this is far from possible, but it cannot be ruled out in the future.

Source: Investing.com