Is Quantum Technology The Future Of The World? – The Coin Republic

Steve Anderrson Saturday, 11 January 2020, 04:58 EST Modified date: Saturday, 11 January 2020, 04:58 EST

At a glance, the quantum volume is a measure of the complexity of a problem that a quantum computer can provide a solution. Quantum volume can also use to compare the performance of different quantum computers.

Ever since 2016, the IBM executives have doubled this value. In the 21st Century, Quantum computers have hailed as one of the most important innovations of the 21st century, along with potential applications in almost all fields of industries. Be it healthcare or artificial intelligence, and even financial modelling, to name a few.

Recently, quantum computers have also entered a new phase of development which can describe as practical. The first real quantum computer was launched in 2009 by Jonathan Holm. From that time, the quantum computer development has travelled a long way. At the moment, the industry driven by a handful of tech giants, including Google and IBM.

Even though IBMs latest advances viewed as significant advances, quantum computers can currently only be used for particular tasks. This indicates that they are far away from the general-purpose which classic computers serve us and to which we are used to.

Therefore, some people start worrying that the encryption technology which used to protect cryptocurrencies, for example, bitcoin may get destroyed. This worry is at least unfounded at present.

As the network is entirely built around the secure cryptographic transactions, a powerful quantum computer could eventually crack the encryption technology which used to generate Bitcoins private keys.

However, as per an article which was published by Martin Roetteler and various co-authors in June in 2017, such type of a machine requires approximately 2,500 qubits of processing power so that they can crack the 256-bit encryption technology which is used by Bitcoin.

Since the most powerful quantum computer which the world currently has only consisted of 72 qubit processors, one thing is clear that it will take several years for a quantum computer to reach the level of threatening encryption technology.

With the help of IBMs computing power which keeps doubling every year, and also the fact that Google has achieved quantum hegemony, Quantum might be working to ensure that Bitcoin can resist potential quantum computing attacks.

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Is Quantum Technology The Future Of The World? - The Coin Republic