Quantum Computing and Cryptocurrency: A Strong Match or Critical Danger?

There’s always something to be worried about in the crypto space. Whether a failing exchange or changes in a regulatory environment, crypto has largely sailed strongly over the past year, despite the latest bearish sentiment.

However, some still see a challenge on the horizon: quantum computing.

Quantum computing technology can be thousands of times faster than conventional computing. Some early quantum tests have solved equations that would have taken a traditional computer thousands years.

On paper, that sounds bad for cryptocurrencies. In theory, a quantum computer would be able to crack SHA256, the protocol protecting Bitcoin’s ledger.

Bitcoin & Quantum Risk

Debating the potential risks quantum computers could pose to Bitcoin and how Bitcoin could mitigate that risk is nothing new

In 2008, several leading cryptographers, including Daniel Bernstein, published "Post-Quantum Cryptography"