**Quantum Computing Threatens Blockchain Security**
***A Looming Threat to Blockchain Security***
The rise of quantum computing poses a significant threat to the security of blockchain technology. The blockchain, which is the foundation of digital currencies like Bitcoin, could become particularly vulnerable due to quantum computing’s ability to break through encryption and make logical leaps that conventional computers cannot.
***Quantum Computing on the Horizon***
The shift from theory and prototype to commercial quantum computing has occurred rapidly in just a few years. Google’s unveiling of Bristlecone, a chip with 72 qubits, in March 2018 indicates that mass-produced quantum computers may soon enter the market. With mega-qubit machines on the horizon, the threat to blockchain security is becoming more pressing.
***Industry Response to the Threat***
The computing industry is not taking the threat lightly. Researchers from governments and computing giants, including Intel, Microsoft, and Cisco, meet annually with top academics in cybersecurity and mathematics to address potential solutions at the Workshop on Quantum-Safe Cryptography.
***A Call for Collaboration***
The nineteenth-century “current war” between AC and DC ended through a collaborative approach that allowed the strengths of both technologies to shine. A similar collaborative approach is necessary today to defend against the threat posed by quantum computing. The technology to defend against quantum attacks is already available in forms such as hash-based cryptography and lattice-based cryptography, and there is a need for collaboration between seemingly competing technologies.
***Protecting Personal Data***
With increasing attacks on personal data, such as the British Airways hack in September 2018, there is an urgent need for collaboration between quantum computing and blockchain technologies. While the emergence of quantum computing seems to undermine blockchain security, a potential solution could lie in combining the two technologies to create a more robust and secure system.
***A Note from the Founder and CEO of ProtectBox***
Kiran Bhagotra, the founder and CEO of ProtectBox, emphasizes the importance of collaboration between blockchain and quantum computing technologies to address the security threat. Recognizing the potential vulnerability of blockchain to quantum computing, Bhagotra urges for a unified approach to protect personal data and digital assets.
The looming threat posed by quantum computing to blockchain security requires a proactive and collaborative approach from the tech industry and academic experts. As the industry prepares to face this threat, the need for a unified front between seemingly competing technologies becomes increasingly evident.
I have been featured in numerous publications, both online and offline, and am a regular speaker at industry events. I am also the founder of Crypto University, an online educational platform that helps people learn about cryptocurrencies and blockchain technology. In addition to my writing and teaching career, I am also an active investor in the cryptocurrency space. I have made investments in some of the leading projects in the space, and my portfolio has outperformed the market by a wide margin