China's Quantum Leap: Is Bitcoin Really in Danger, or Are We Asking the Wrong Question?
When China unveiled yet another breakthrough in quantum computing, headlines followed a familiar script. "Bitcoin could be broken." "Cryptocurrency faces extinction." "Quantum computers will destroy blockchain." They make for excellent clickbait. But they also miss the bigger story. Because Bitcoin is not what should keep governments awake at night. The real question is what happens when someone builds the world's first genuinely useful quantum computer. If that day arrives, cryptocurrencies will simply be among the first dominoes. 𝗕𝗶𝘁𝗰𝗼𝗶𝗻'𝘀 𝗚𝗿𝗲𝗮𝘁𝗲𝘀𝘁 𝗦𝘁𝗿𝗲𝗻𝗴𝘁𝗵 𝗠𝗮𝘆 𝗔𝗹𝘀𝗼 𝗕𝗲 𝗜𝘁𝘀 𝗚𝗿𝗲𝗮𝘁𝗲𝘀𝘁 𝗪𝗲𝗮𝗸𝗻𝗲𝘀𝘀 Bitcoin's security rests on mathematics. More specifically, two mathematical foundations. The first is SHA-256, the hashing algorithm securing Bitcoin's blockchain and mining process. The second is ECDSA, the digital signature system proving ownership of Bitcoin wallets. Today's computers would ne...
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