Quantum computers directly threaten the technology that underlies crypto currency.

According to researchers from the National University of Singapore, as well as their colleagues, it is quantum computers that threaten the safety of the Bitcoin network. Based on the most aggressive assessments of the speed of development of quantum technologies, scientists argue that with the help of these technologies private keys can be hacked as early as 2027.

The type of encryption that is used today in the Bitcoin network and other crypto-currencies is so reliable because existing computers are powerless against it. But quantum computers theoretically can work much faster, because they are not limited to working with bits (values ??of 0 or 1). Quantum computers use qubits, which are based on very strange ways of behavior of subatomic particles, and can contain more values ??(or even two values ??simultaneously).

As reported in the MIT Technology Review the greatest danger quantum computers represent for crypto-currency wallets.

Transaction rewriting According to the research, the greatest danger arises at the moment when transactions are broadcast to the network, but not yet processed.

The researchers found that an intruder with a quantum computer can change a transaction before it becomes "legal", t. will be confirmed.

The processed transactions will remain safe, at least for a while. Even a computer that completely changes the paradigm of computing as we know it, is unlikely to be able to make changes to the distributed registry, after the appearance of several blocks.

The ability to compromise private keys is bad news not only for crypto currency. Vulnerable are all technologies that use public-key encryption, such as messaging applications, SSL certificates, and so on..

A glimmer of hope As researchers recognize, this conclusion is fair, if nothing changes in how secret keys are created:.

There are already studies that describe the mechanism of quantum-safe signature schemes with a public key.

This summer, researchers from the University of Pennsylvania also proposed ways to create more reliable private keys that can be resistant to quantum computing. And, in addition, the speed of development of quantum computers can be much slower than researchers suggest.