Adam Back claims that the Bitcoin network will not be exposed to any serious quantum threat for at least the next 20-40 years. So is the cryptocurrency blockchain and will it be fully safe?
Adam Back talks about Bitcoin and the quantum computer
Cryptographer and cyberpunk Adam Back says Bitcoin likely won’t face a serious threat from quantum computers for at least two to four decades.
He wrote on X that blockchain “probably” will not be threatened “for 20-40 years.” He added that there are already post-quantum encryption standards approved by the National Institute of Standards and Technology (NIST) that Bitcoin network developers can implement “long before the advent of cryptographically significant quantum computers.”
The discussion on He noted that to break SHA-256 – the encryption standard on which Bitcoin is based – quantum computers would need about 8,000 qubits.
Qubits are the basic elements of quantum computers, they are the quantum version of bits. Unlike “classic” bits, which can be either a 0 or a 1, qubits can exist in a state of 0, 1, or both at the same time. It is the fruit of discoveries in the field of quantum physics.
So what is the truth after all?
And in fact, quantum computers could make bitcoins stealable. Blockchain will no longer be a fully secure digital safe. However, we will probably have to wait for this threat for many years.
Current quantum computers have too few qubits to threaten Bitcoin. They are unable to break RSA-2048 encryption.
And this is where it gets most interesting, because theoretically this goal requires 4,000 qubits, and scientists have already created a quantum computer with 6,100 qubits. But this is an ideal model that assumes perfect qubits, without taking into account noise in the real world. Or to put it another way: the value of 4000 qubits is the number required to run Beauregard’s encryption-breaking system, but only in an error-free, ideal environment. So in practice this is impossible.
So, to sum up: current quantum computers are practically unable to hit Bitcoin. However, experts analyze how long this state of affairs will last.
However, Bitcoin may be expanded with systems resistant to quantum attacks in the coming years. The history of technology shows that when a deadly weapon is created, a shield appears on the market.
