Schwartz predicts that quantum computers will start to become a problem within the next 10 years. Quantum computers will be a threat to bitcoin and xrp by reynaldo july 26 2020 ripple s cto david schwartz believes that quantum computers will be a threat to the security of bitcoin xrp and other cryptocurrencies. Bitcoin news get the latest btc news now.
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Mining by quantum computing hijacks the growth of the chain enables a small number of nodes to hoard new bitcoin at the expense of miners using traditional mining hardware and additionally to control which blocks and transactions are added or blocked. On the modern cto podcast schwartz says quantum computing will break the cryptographic algorithms that keep cryptocurrencies like bitcoin btc and xrp as well as the internet at large secure. Ripple cto david schwartz says quantum computing poses a serious threat to the future of cryptocurrency.
Elliptic curve and hashing. Bitcoin primarily relies on two types of cryptography. While it is impossible to divine precisely what the future of quantum computing will look like there is a high likelihood that bitcoin will actually remain fairly unscathed by quantum attacks.
