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Quantum computer - a death or an exaggeration?

A quantum computer is not a threat to the blockchain, A representative of the American Institute of Economic Research said. In his opinion, this fear is based on ignorance and panic moods. However, such articles testify to the incompetence of the authors and are aimed at distracting and dispelling public attention.

Today cryptocurrencies use Secure Hash Algorithm SHA built on the Merkle-Damgard structure: the initial information is divided into blocks, each block is divided into 16 words. The algorithm passes each message block through a loop with 64 iterations. In other words, the information is processed 64 times.

At each iteration, 2 words are converted, the rest of the words are set to the conversion function. This is if we describe the process in brief. So, today the computing power is not enough to crack the SHA algorithm.

But, according to the head of the international public movement CWT Alexei Muratov, a quantum computer is able to crack cryptographic hashing in a couple of minutes and gain access to secret information of any state or company.

The only protection is the development of hashing for quantum processors and computers. Such fears are caused by the fact that the quantum computer, unlike the usual one, doesn't operate with bits, but with qubits, which are capable of changing irrespective depending on the state vector of the register in space.

Qubit is in all possible combinations of its constituent bits and simultaneously uses two classical states of the bit. Thus, one operation on a group of qubits is calculated immediately over all possible values of it, in contrast to the group of classical bits, when only one current value can be used.

And this means that the quantum computer is not deadly for bitcoin, it is deadly for today cryptography, which underlies of blockchain technology, on which all the security of today's cryptocurrency is based.

  • June 11, 2018 3:42 PM MSK
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