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Blockchain Mayhematics? #btc #elon #🔥 #algorithm
Blockchain Mayhematics?
#btc
#elon
#🔥
#algorithm
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Quantum Computers Could Break Bitcoin and Banks by 2025-2029. Follow me for more! In 2024, the US government will start adopting new encryption rules and a phase out of existing encryption. There is a study being released next year that will guide the US government transition and describes the dates when various encryption will be deprecated. Commercial and finance will follow with rules and a plan in 2025. However, commercial and finance will basically adopt what the $100 million government study. Other nations will follow the US plan. It is likely 2035 will be the target for full implementation but once the announcement and plan is set everyone will be on a forced march to the change. This will happen even if quantum computers do not get to the level of decrypting the current standards. Cryptocurrencies including Bitcoin are not quantum resistant. They also rely on cryptographic algorithms that are vulnerable to quantum computing attacks. To attack SHA-2 functions with 256-bit states, using Grover’s algorithm, 2593 qubits (error corrected) would be required, according to Richard Preston’s paper. Quantum computers with 4000 error corrected qubits will be able to decrypt RSA 2048. The 2593 error corrected qubits could break crypto wallets and bitcoin. If the public key is known, an attacker with a quantum computer of about 1500 error corrected qubits can solve it according to researchers at the Centre for Cryptocurrency Research and Engineering of Imperial College London. Bitcoin and the other vulnerable cryptocurrencies would have to fork to a quantum secure chain. QuEra is working with neutral atoms. The startup is implementing quantum error correction with neutral atoms. The neutral atom approach started years after the superconducting approach. Atom Computing also works with neutral atoms and also has over 1080 qubits (not error corrected) working. QuEra and others could have faster development to thousands of error corrected qubits. #btc #qubit #new #era
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Disrupting Cryptographic Randomness An often-overlooked aspect of blockchain security is the reliance on cryptographic randomness. Quantum computing poses a risk to this aspect by potentially predicting or influencing the pseudo-randomly generated numbers crucial for cryptographic operations, thereby undermining a foundational element of blockchain security. Pioneering Quantum-Resistant Blockchain Technologies In response to these emerging threats, the development of quantum-resistant cryptography has become paramount. This new class of cryptographic algorithms is being designed to withstand the advanced computational capabilities of quantum computers. The exploration in this field includes lattice-based cryptography, code-based cryptography, and multivariate polynomial cryptography.These advanced cryptographic techniques aim to create a blockchain architecture that can withstand quantum computational attacks. #btc #crack #quantum #computer Dont forget to follow me for latest news!!:)
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Elon Musk shares theory about Bitcoin creator Satoshi Nakamoto. Elon Musk is Satoshi Nakamoto – Old Rumor Gets New Circumstantial Evidence. Elon Musk and Satoshi Nakamoto Similarities Gupta told BeInCrypto, “A few years ago, I wondered whether Musk might be capable of writing the source code of Bitcoin. I then realized he actually is. Musk wrote the software for his first companies, Zip2 and X.com, which literally specialized in peer-to-peer payments. X.com’s source code was written in C++ and described as ‘monolithic’. So was Bitcoin’s.” "order of magnitude" Satoshi: • "I thought it would be impractical if the block chain, bitcoin addresses, disk space and bandwidth requirements were all an order of magnitude bigger." • "RSA can do both, but I didn't use it because it's an order of magnitude bigger and would have been impractical." • "I know for competitive reasons the inclination is to keep it to yourself, but it could get an order of magnitude more use if anyone could give proxy access to their country just by putting the software on a server." • "Setting up the buffer takes an order of magnitude longer than the actual hashing if you're only hashing one or two blocks like we do." • "The new efficient single-pass algorithm is orders of magnitude quicker. #btc #elon #satoshi #tesla
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Bitcoin Suddenly Braced For A $35 Trillion Halving Price Earthquake BitcoinBTC is just hours away from its next supply cut, known as the bitcoin halving, amid fears of a "rapid, cataclysmic" U.S. dollar collapse. Bitcoin's price could be cut in half with its FOMO-fueled rally set to unravel. Follow me:) #btc #crash #panic
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What is bitcoin halving – and will it affect the price? Satoshi Nakamoto, the pseudonymous creator of bitcoin, still has an influence on the cryptocurrency nearly 14 years after disappearing. This week the protocol designed by Nakamoto – an individual or group of individuals who went silent in December 2010 – will trigger what is known as a “bitcoin halving”, a process that has coincided with price increases in the past. The latest halving is expected to take place on Saturday. Here we explain what the bitcoin halving entails and its potential impact. What is bitcoin halving? It is related to how bitcoins are recorded and created. Transactions in the cryptocurrency are recorded on a universally accessible ledger called a blockchain. These transactions are put on the blockchain by “miners” who pack them into blocks that are then linked – or “chained” – together. They do this by solving a cryptographic puzzle using specialised hardware and – this is the key bit – receive a reward in newly created bitcoins.#Megadrop #bitcoinhalving #WIF #sui #SHIB $BTC $ETH $USDC Follow me :)
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