There Is A Rumor That Quantum Computers Will Be Able To Crack Bitcoin And All Other Traditional Cryptography Within Two Years

May 15, 2020 / by Crypto.IQ

Quantum computers continue to become more powerful, and the CEO of Alphabet, the parent company of Google, thinks that quantum computers will be able to crack all traditional cryptography, including Bitcoin (BTC), in 5-10 years

This is already bad enough, but another expert thinks that there is far less time until quantum computers become a serious threat. Andersen Cheng, the CEO of Post-Quantum, says that in only two years quantum computers will be able to crack all traditional cryptography. 

These ideas are not just speculation. Cheng works with the North Atlantic Treaty Organization (NATO), Government Communications Headquarters (GCHG) of the United Kingdom, and the National Counterintelligence and Security Center (NCSC), and that’s where this information is from. 

Basically, the 5-10 year estimate is based on the progression of commercial quantum computers, but it is likely that governments are secretly building powerful quantum computers. In fact, Cheng says that governments are doing whatever it takes to get to the point where they can crack all cryptography.

Even worse, as soon as powerful enough quantum computers exist, they will be able to readily crack Bitcoin’s (BTC) cryptography with the Shor or Grover algorithms.

On the other hand, Ethereum Co-Founder Vitalik Buterin says that it is well-known what upgrades need to be implemented in order to defend against quantum computer attacks, and it is just a matter of making the upgrade. 

Based on the possibility that secret government quantum computers could be powerful enough to crack Bitcoin (BTC) in two years, it seems like now is the time for crypto developers to fully develop quantum resistance protocols.

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