Am I right to assume that #Quantum #Computers will render the Blockchain that we know practically insecure / useless? And if they do, why is everyone who says "#cyber" unironically seeing #Blockchain #technology as the new gold?

#Crypto #Internet #Politics

@waweic Yes and no. ECC is particularly susceptible to quantum computing speedup, and to my knowledge all existing blockchains use ECDSA as their signing algorithm, so all existing cryptocoin addresses would become breakable. But as far as I know there is nothing in principle preventing a blockchain from using a quantum-resistant signing algorithm such as UOV, though from a social standpoint the transition may be pretty rough.

@im @waweic And how far are we from world wide usage of quantum computers? Is that even possible from technological point of view?

@johny
Well, I do assume that intelligence agencies and military will see a lot of positive things for them in Quantum Computing, so I think a lot of progress will be made.
@im

@waweic @im I think quantum computers will be owned by governments and very rich people, because you need some special condtitions to run it (such is near absolute 0 temperature for behaviour like superconductor etc.). I'm no expert in this field but seems to me that world wide usage of quantum computers is not in near future.