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Google quantum computer strikes fear into the crypto community

Google quantum computer strikes fear into the crypto community

Google quantum computer is here! The company has announced that it has achieved successful ‘Quantum Supremacy.’ The tech giant has said that its Sycamore quantum chip has been able to achieve supercomputing technical prowess befitting a quantum chip.

Quantum computing a rarefied field that many tech giants are striving to ace. Quantum computers have processing powers far superior to current-generation supercomputers. It may represent a giant technical leap forward, but it also signifies fear among the crypto community. Quantum computing creates an environment of uncertainty because it poses serious threats to the security quotient of the cryptocurrencies.

Google Quantum Computer is futuristic and very much possible

Google’s recent claim mentions that its quantum computer has solved a calculation in a mere 200 seconds, whereas a traditional supercomputer would take ten thousand (10,000) years to solve the same. The company has been testing Bristlecone, a 53-Qubit device, in the hopes of achieving quantum-grade success.

However, Google’s quantum computing success can be classified as nascent. The device has been able to complete calculations at an astounding speed, but its commercial viability is uncertain. They are developed to show quantum possibilities rather than actual world implications. If and when such devices become commercially available, they may pose a threat to the cryptocurrency community.

Why the crypto community fears quantum computers

The security concerns of quantum computing are well known. A device that is powerful beyond the current supercomputers can surely crack passwords and hack networks easily. The blockchain realm fears that such computing power can mean the cryptographic aspect of the digital currencies is at risk.

Developing technology that is resistant to quantum computers is the need of the hour. E-cash founder, David Chaum, says that Google’s pioneering research into the quantum realm can be best described dramatically. The current development is symbolic rather than downright threatening. He further says that D-wave’s computer already achieved one thousand qubits some years ago, and crypto is still here.

Threat or not, Google quantum computer has raised many questions that demand answers. How it will impact the crypto community is a mystery that will only be unraveled with time.

Gurpreet Thind

Gurpreet Thind

Gurpreet Thind is pursuing Masters in Electrical Engineering at University of Ottawa. His scholarly interests include IT, computer languages and cryptocurrencies. With a special interest in blockchain powered architectures, he seeks to explore the societal impact of digital currencies as finance of the future. He is passionate about learning new languages, cultures and social media.

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