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I'm not concerned about quantum computers becoming a threat to cryptocurrencies for several reasons: - No timeline for working quantum computers of the necessa
by fidelramos 3y ago
I'm not concerned about quantum computers becoming a threat to cryptocurrencies for several reasons:
- No timeline for working quantum computers of the necessary size yet.
- Blockchains can and will upgrade to newer quantum-resistant cryptographic primitives when needed.
- Bitcoin addresses are only part of the public key, the full public key is only published when a transaction is made. This increases the search space tremendously, as you don't even know the public key you are trying to crack. This is another reason why it is best practice to not reuse Bitcoin addresses, always move coins to fresh ones.
This page in the Bitcoin Wiki [0] has more details about quantum computing threats to Bitcoin.
[0] https://en.bitcoin.it/wiki/Quantum_computing_and_Bitcoin https://en.bitcoin.it/wiki/Quantum_computing_and_Bitcoin