Why are cryptocurrencies such a revolution?!

It’s mainly because of the technology behind them : blockchain, which is currently considered unbreakable.

We often hear about “hacks” in the crypto world, but to be clear, these hacks are not breaches of the blockchain itself.

They are typically exchange account hacks, password thefts, or social engineering attacks.

If you were to guess a private key for instance…

….you would have one chance out of 10 ^ 78 → That’s a billion times more than the number of atoms in the Milky Way (10 ^ 68) 😵‍💫

Even with the best military computers available today, guessing just one private key would take several centuries of calculation.

But there's a new player on the scene that might change the game entirely… 🫣

Quantum computing operates fundamentally differently from the classical computing that underpins today’s cryptocurrency networks.

→ Instead of using bits as the smallest unit of data, quantum computers use qubits.

…these qubits can exist in multiple states at once, a property called superposition, enabling them to process vast amounts of data at the same time!

While a classical computer would have to try 10 ^ 78 possibilities one after another, quantum computers could potentially try all possibilities simultaneously 🤯

But while the full potential of quantum computing is still unfolding…

…it raises a critical question

First of all, if quantum supremacy were achieved tomorrow, crypto wouldn’t be our biggest concern.

All the military, financial and health infrastructures would be at risk. The very foundations of our society would be threatened.

Experts suggest we might see quantum supremacy over certain cryptographic algorithms within the next 10 to 30 years.

→ Developers and researchers are working even now, on quantum-resistant blockchains and cryptographic methods, such as lattice-based and hash based cryptography.

Also…

…quantum computing could also revolutionize crypto in positive ways!

Imagine quantum-secured cryptocurrencies that offer unparalleled privacy or quantum algorithms that enhance the efficiency of mining processes.

While the rise of quantum computing presents a formidable challenge, it is not the end of cryptocurrencies but rather an evolution.

Is crypto going to zero? NO. Instead, it's heading towards a new era of security and efficiency.

Have an excellent week ❤️,

TheCryptoPicks.