recent report claims that Google may have achieved quantum computing. This could change how the world of computers works. Reports that Google was seriously working on the technology first emerged in 2018 via a paper released by NASA. It showed that NASA was testing the Quantum computing technology that Google was working on.

The report claimed that Google managed to conduct calculations using its Quantum computer that would take the fastest supercomputer today 10,000 years to complete. This has sent panic in the blockchain sector. The reason for this is that industry experts have long claimed the only way to hack a blockchain such as the BTC blockchain was by using a Quantum computer.

This is a Small Step

One BTC Core developer does not believe that there is yet a threat. In a Twitter thread, he claimed that the technology Google had developed was still a long way from breaking cryptography. Another report noted that Google had only managed 53 qubits. To break a blockchain such as BTC’s blockchain, they would need at least 1500 qubits.

Thus far, only a few details about the achievement have been released. It has been public knowledge for a while that Google was working on a 72 qubit device called Bristlecone. However, it would be a bit early to expect that the technology will break the blockchain. It is also worth noting that various projects are working to ensure that the blockchain becomes resistant to quantum computers.

Preparing for Quantum Computing

Developers in the blockchain sector are not sitting idly by, waiting for quantum computers to end them. Instead, there are projects actively working to tackle this issue. One such project is the Praxxis project, which is being developed by the inventor of E-cash David Chaum.

Another project that is tackling the issue is the QAN project. The project has already put out a statement saying that while Google’s announcement was dramatic, its significance was hard to gauge. However, if the technology does come, it will mean an overhaul of the entire blockchain ecosystem. That could happen a few years from now or many years from now. This is because there is a lot of strategic importance to this technology. As such, many nations working on it are quite secretive.

It is Important to Be Prepared

While quantum computing will not end the blockchain sector overnight, it is important to be ready for when it comes. If the industry is not prepared, some experts believe that this could spell doom. As the qubits grow, it will be important to grow the quantum-resistant of blockchains.

While it may sound like science fiction today, a lot of money is being spent to develop quantum computing. Besides that, researchers in this sector have not been forthcoming about their achievements. It is thus important for the blockchain sector to be prepared. While the blockchain holds a lot of potential, all that may not be worth much if quantum computing can crack it.

Image Source: ShutterStock 

Notice: Information contained herein is not and should not be construed as an offer, solicitation, or recommendation to buy or sell securities. The information has been obtained from sources we believe to be reliable; however no guarantee is made or implied with respect to its accuracy, timeliness, or completeness. Authors may own the crypto currency they discuss. The information and content are subject to change without notice. Visionary Financial and its affiliates do not provide investment, tax, legal or accounting advice. This material has been prepared for informational purposes only and is the opinion of the author, and is not intended to provide, and should not be relied on for, investment, tax, legal, accounting advice. You should consult your own investment, tax, legal and accounting advisors before engaging in any transaction. All content published by Visionary Financial is not an endorsement whatsoever. Visionary Financial was not compensated to submit this article Please also visit our Privacy policy; disclaimer; and terms and conditions page for further information.