IBM: Quantum Computing Threatens Blockchain
Specialists of the IBM corporation have called quantum computing potentially dangerous for the field of cryptocurrency and for cryptographic tools used in decentralized networks, according to Coindoo.
Jesse Lund, the head of the blockchain development department of the corporation, believes that the reverse engineering method theoretically allows to decrypt the private keys with which the security of the crypto wallets is ensured. He noted that quantum computing is a real threat, since the Bitcoin blockchain is a public register and allows scammers to calculate the accounts with the biggest sums.
The expert stated that the risk level will only increase due to the invention of the quantum computer. He noted that more than half of all existing blockchains will be in danger due to the fact that quantum processes will help decipher private keys, using public ones as an example.
IBM technical director of information security services Nev Zunic believes that quantum computing is a threat not only for blockchains, but also for communication systems, databases of enterprises and states, etc. According to Zunic, organizations must be aware of the potential of a quantum computer in order to take action, otherwise their products may be damaged.
Earlier, IBM has patented a technology to improve the security of blockchain networks.