The Wall Street Journal (WSJ)
The Wall Street Journal (WSJ) has raised concerns over a potential quantum computing threat to Bitcoin (BTC), describing it in a recent article as “a time bomb waiting to explode.” The article highlights the possibility of advances in quantum computing posing a risk to Bitcoin’s security and potentially becoming a threat to the entire blockchain industry.
In theory, a quantum computer
In theory, a quantum computer could decipher private keys in minutes, rendering Bitcoin’s security architecture obsolete. This debate was reignited when Google unveiled its Willow quantum computing chip on Dec. 9, leading the crypto community to worry that a quantum hack could occur earlier than the commonly shared 10-year expectation.
The WSJ article tackled the
The WSJ article tackled the proximity of such an event and its potential impact on the traditional financial system. A study published by the think tank Hudson Institute in 2022 estimated losses exceeding $3 trillion across crypto and traditional financial markets if a global recession was triggered.
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