Will Quantum Computers Crack Bitcoin’s Password? Satoshi Nakamoto Predicted 15 Years Ago

Concerns about the security of Bitcoin’s private keys have resurfaced following developments in quantum computing, particularly discussions about the capabilities of the quantum chip “Willow.” However, cybersecurity expert Yu Xian, founder of blockchain security firm SlowMist, assured the crypto community that there is no immediate cause for alarm. Quoting crypto researcher Jeffrey Scholz, Yu Xian said, “Current tens of gates in quantum computing are at least millions of gates away from being able to crack Bitcoin private keys. Quantum gates are incredibly difficult to scale, as higher gate counts result in higher noise and error rates, rendering the machine useless in real-world scenarios.” “Don't worry about Satoshi Nakamoto's private key, at least not for the next few decades,” he added. The renewed focus on quantum computing has drawn attention to comments made by Bitcoin founder Satoshi Nakamoto in 2010 regarding the robustness of Bitcoin’s cryptographic hash algorithm, SHA-256. Satoshi had said: “SHA-256 is very strong. It’s not like a gradual step from MD5 to SHA1. It can last for decades unless there’s a major breakthrough attack.” Related News: After Today's CPI Report, Former FED Member Mester Shares Prediction on Rate Cuts Satoshi also outlined contingency plans for a possible cryptographic breakthrough, emphasizing the adaptability of the Bitcoin protocol. He suggested an orderly switch to a new hashing algorithm in case SHA-256 is compromised. Despite advances in quantum computing, researchers agree that the technology is far from a credible threat to Bitcoin. Current quantum computers are limited in scale and face significant hurdles, such as error correction and noise reduction, before they can tackle complex cryptographic problems like cracking Bitcoin’s private keys. *This is not investment advice. Continue Reading: Will Quantum Computers Crack Bitcoin’s Password? Satoshi Nakamoto Predicted 15 Years Ago