When I gave a basic lecture about blockchain in my local Rotary Club one IT guy just sat there and grinned. In the discussion afterwards he was convinced that blockchain wouldn't stand a chance once quantum computing evolves.
I didn't discuss that with him, since I actually don't really have a clue about quantum computing. But maybe here are some people who can enlighten me about the things to know when it comes to evolving quantum computing and blockchain.
For example I could think of passphrases being not as secure as they might have been in past. But what are other points to that area of conflict?
I need only a quantum signature in the script for the blockchain to be quantum-resistant. Bitcoin mining will transition to quantum mining as quantum chips become available. These two sentences might seem brief, but they provide sufficient information to challenge IT professionals in any debate. Based on my 25 years of IT experience, I can confidently say they are often mistaken.
Academic papers indicate that the cryptographic community is actively working on post-quantum blockchains. Understanding how systems function is crucial, as the transition to quantum technology will be natural. Modern processing chips with AI capabilities are essentially quantum in nature. Moreover, quantum computing is not just about speed; it involves depth and volume, moving beyond the limitations of the 2D world. What is a Qubit?
A qubit (short for quantum bit) is the basic unit of information in quantum computing and is the quantum mechanical analogue of a classical bit. A qubit plays a similar role as a bit, in terms of storing information, but it behaves much differently because of the quantum properties on which it’s based. A qubit uses the quantum mechanical phenomenon of superposition to achieve a linear combination of two states, whereas a classical binary bit can only represent a single binary value.
Key Features of a Qubit
- A qubit can exist in a superposition of both 0 and 1, allowing it to process multiple calculations simultaneously.
- Qubits can become entangled, enabling them to be connected and correlated with each other.
- Qubits can be used to perform quantum operations, such as quantum teleportation and quantum cryptography.
Quantum Bit, now the question is what is Bitcoin Bit-Coin the structure is the same Bitcoin is Bit. If the Qubit creates volume for bits and we can have 2 layers then the quantum computing do not listen the single bit layer. Quantum and Normal computing work on different frequencies. Back to Bitcoin and Qubit, if Qubit is a multi layer bit structure and can process 0 and 1 in the same time then Bitcoin having mackle tree processing much more data in same time then the quantum computing. I need to stop here because it is a bit too much for public to absorb :)
Thanks a lot for these in-depth insights, awesome to read something of someone with knowledge in this area 🙏
It is my pleasure, thank you and welcome. I think for somebody to speak on this need to understand both Bitcoin Blockchain and IT but how both work actually how data work and I do research reading and listening more knowledgeable people, do comparations and I apply critical thinking.
Seed phrase is not a part of the Blockchain but a password for the wallet and could be part of a software/node. Phrase topic that you mentioned is great for debate as people must know that many wallet providers or seed phrase generators use less encryption and cryptography to secure phrases as recommended. This is because the good security cost time and space. But it is bad for the data security in the future. From experience I know the failure comes from the human not the technology. This is one of the many evidence that simplicity and full decentralisation is the key for the the best security. Quantum computer have no capacity in milli sec to calculate time and space in the same time find all the geo distributed nodes keeping the bits of the phrase and crack them in same time. Maybe this will be possible in 100 years.
