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The $460 billion bitcoin Treasure Hunt

Earlier this month, researchers open it A major breakthrough has occurred with the quantum computer in terms of proving a convincing advantage over traditional computers. This was then followed by Google last week, who open it To demonstrate the first practical use of their quantum technology by using the combination of its willow chip with the quantum echoes algorithm.

Quantum Computing is something that can be difficult to understand, but the most important area in following the impact of this technology on the world is its theretical power than by encrypting everything on the Internet today. And yes, that includes bitcoin.

In fact, Bitcoin has enabled a large capital incentive to develop the first powerful enough computer. Many primary addresses (basically the equivalent of an account) in the bitcoin network are protected by encryption which makes them vulnerable to quantum attacks on the most powerful computers, which is why there are already discussions around this type of threat.

These are the first bitcoin addresses, including many that have existed Linked to Sitcoin Creator Satoshi Nakamotoand it can be associated with private keys (basically passwords to bitcoin accounts) lost or not found by anyone. In other words, they are like the lost Digital Treasure chests of Quantum COMPAI may open in another direction in the future.

Someone with a powerful enough quantum computer can find the private keys of these addresses by breaking the encryption associated with them. And at current prices, we’re talking about $460 billion worth of Baseneseble Bitcoin, According to a previous report from Deloitte.

Bitcoin itself is not vulnerable to quantum computing attacks todaysince those computers just don’t exist. Moreover, it already exists at least one proposal to improve bitcoin (bip) associated with the quantum threat That would allow bitcoin wallets to randomly upgrade their software and quickly push a soft fork in the event of a security issue.

While there is no set-in-stone plan for developing Bitcoin in addresses that are resistant to resistance or are completely secure, it is not even clear whether such development will actually be necessary. That means, strategies and proposals have been closed to deal with this threat which is still, at this time, strictly theoretical. However, this will be a rare instance where a change in the RESERT of the Bitcoin network is not an option, at least openly speaking, as users would leave their money open to theft by not upgrading.

As for the timeline of when this could be a problem for Bitcoin, experts generally agree on the timeline some point in the 2030s.

At the moment, the original bitcoin addresses are the most vulnerable to the quantum threat called “Satoshi’s shield” because they can act as a computer canary with the power to detect bitcoin encryption and many other online systems.

Of course, based on the previous performance of Bitcoin, the current Bitcoin wealth worth $460 billion can easily grow to $1 trillion in the time of a powerful computer. That said, the way this process will happen is that it can be a large number of small treasure chests that are opened over time rather than a single attacker gaining access to one big chest that holds all of that bycoin. In other words, a cracked Bitcoin cannot be obtained at the same time by the same entity.

Obviously, it should also be noted that some of these baltenetable bitcoins can be transferred to vulnerable address types, already available or additional, power-protected addresses when the clock strikes midnight. But then again, it’s possible that the private keys associated with the large amount of early Bitcoin are simply lost.

Existing computing startups and existing projects are obvious choices for cracking Bitcoin’s initial hash addresses, and some bitcoin users have open it That this is something that the US government should engage with as a kind of new Manhattan project for the digital age. Notably, the Trump administration is currently in discussions related to the US government’s investment in several computer companies, in accordance with The Wall Street Journal.



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