Quantum computers could be powerful enough to decrypt Bitcoin sometime after 2030, CEO of Nvidia's quantum partner says | Fortune
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Quantum computers could be powerful enough to decrypt Bitcoin sometime after 2030, CEO of Nvidia's quantum partner says | Fortune
"Quantum computing, however, uses a state of quantum physics known as "quantum uncertainty." At an atomic level, a particle can exist as both matter and energy simultaneously. A computer using quantum principles can thus calculate as if it is representing 1 or 0 at the same time-allowing it to perform multiple tasks at the same time rather than in sequential order, and radically increasing the computer's processing power."
"The problem is that because quantum computers represent data in two different states simultaneously, their calculations generate errors that have to be controlled. A&B is developing a system that solves that at the level of the hardware itself. "The whole point of the approach is to embed the first layer of error corrections directly within the design of the quantum bit itself, the most elementary level of the machine, and that dramatically simplifies the whole system by up to 200-fold," Peronnin said."
Quantum computers are projected to become powerful enough to crack Bitcoin security shortly after 2030 by solving mining or brute-forcing wallet passwords. A company backed by about $150 million and partnered with Nvidia is developing a fault-tolerant quantum computing system. Quantum machines use quantum uncertainty so qubits can represent 1 and 0 simultaneously, enabling parallel calculations and vastly greater processing power. That dual-state operation produces errors that must be controlled. The planned system embeds the first layer of error correction at the qubit hardware level, simplifying the overall architecture by up to 200-fold. Current technology is not yet an immediate threat but is progressing.
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