Imagine one morning you log into your crypto wallet to find your holdings vanished. This alarming possibility could become reality with the rise of quantum computing, as explored in a recent Cointelegraph video. The discussion highlights the risks facing cryptocurrency, potential protective measures, and steps investors should take to safeguard their assets.
Early this month, Google introduced its latest quantum chip, Willow, which processes calculations in minutes that would take traditional computers septillions of years. Experts caution that as quantum computing advances, it may eventually be able to breach the Elliptic Curve Cryptography, a cornerstone of security for cryptocurrencies like Bitcoin.
John Lilic, executive director at Talos Foundation, pointed out that once trust in public-private key pair infrastructure is shattered, the value could plummet rapidly. The difficult nature of preparing for this lies in the exponential growth of quantum computing technology, which unfolds abruptly.
Fabrizio Romano Genovese, a computer scientist specializing in quantum mechanics, explains that exponential processes seem slow initially but accelerate dramatically towards the end. This raises the pressing question: how soon could quantum computers compromise Bitcoin’s encryption? Cointelegraph’s video investigates this looming threat and offers insight on how investors can fortify their digital portfolios.
Viewers are encouraged to watch the full video for strategies to stay ahead of technological changes and protect their crypto assets before it’s too late.
