I’m presently dealing with my Master’s Thesis on “Digitization through Distributed Ledger Technologies – Effects of new technologies on the traceability of supply chains“. In the theory part I discovered some really intriguing realities.
According to Gidney & Ekerå (2021), there is a possibility that effective quantum computer systems will break the carried out algorithm. The treatments needed for this, e.g. the Shor algorithm are currently readily available. However, a cutting edge quantum computer system in 2019 just attained 0.00035 percent of the power needed to fix the algorithm. Isn’t that intriguing?In addition, if it would be possible to crack/hack e.g. the Bitcoin algorithm, then the world would have far more issues. It would be possible to hack into deals of finance, mail in addition to into file encryption of information in the cloud and other networks.
Think about that if you are worried about this type of threat for BTC. Furthermore, it might likewise be possible to change the algorithm to a system which is not attackable by Quantum Computers (if time has actually come).
Same opts for a 51% attack. For this attack you would require 101% (if I’m not incorrect) of the present mining power (if you are a brand-new gamer who signs up with the network) which is kinda difficult. Because 1st you require the mining hardware + second the quantity of electrical energy for your devices + 3rd the cash to spend for all of that.
Wish me luck for my Thesis! 3 weeks left…
Gidney, C., & Ekerå, M. (2021). How to aspect 2048 bit RSA integers in 8 hours utilizing 20 million loud qubits. Quantum, 5, 433. https://doi.org/10.22331/q-2021-04-15-433
Peter W. Shor (1997), Polynomial-Time Algorithms for Prime Factorization and Discrete Logarithms on a Quantum Computer, SIAM Journal on Computing 26/1997, pp. 1484-1509, https://doi.org/10.1137/S0097539795293172
Omlor, S., & Link, M. (Hrsg.). (2021). Kryptowährungen und Token. Frankfurt am Main: Fachmedien Recht und Wirtschaft, dfv Mediengruppe.