WEB3 people have always been at the forefront of the times, and today we welcome a new topic: quantum computing.
Everyone is joking that entering the WEB3 field requires not only an understanding of blockchain knowledge, but also technical topics for those who are not computer experts; you also need to understand stock knowledge and study various candlesticks and patterns; let alone keep up with the various policies of the beautiful country, especially the Federal Reserve and the US elections, which have become second nature.
Recently, Google's newly released quantum computing chip Willow has brought new directions for WEB3 people.
Quantum entanglement, doesn’t this term sound very familiar?
Actually, long ago, quantum computers were hailed as the next major technological breakthrough. Unlike traditional computers that use bits (0 and 1) to process data, quantum computers use quantum bits, which can exist in superposition—representing 0, 1, or both simultaneously. This unique property allows quantum computers to perform multiple calculations simultaneously and explore countless possibilities at a speed much faster than traditional computing. Entanglement connects quantum bits, making their states interconnected, enabling quantum computers to solve problems that traditional computers cannot, meaning quantum computers will be able to crack commonly used encryption schemes.
In fact, in October, Vitalik also called for quantum resistance research to be part of Ethereum's long-term technological roadmap. The large reputation-based online forecasting platform Metaculus estimates that quantum computing may be able to crack existing encryption technologies by the 2030s, with a median estimate of 2040.
Recently, Google's released Willow quantum chip can perform exponential calculations, and Google has proven this by shortening a task that would take 10 quadrillion years to complete down to 5 minutes. This capability can surpass Bitcoin's hash rate in just a few minutes, rewriting the Bitcoin blockchain and even stealing Satoshi Nakamoto's currency.
A simple example is the scenes where passwords are cracked in movies. For us humans compared to computers, a commonly used 6-digit password is generally hard for others to guess, except for the owner. However, using a computer to perform permutations and combinations on those 6 digits can quickly crack the password. Currently, quantum computing's capabilities compared to blockchain hash computations are similar to the gap between a computer and a human.
This extraordinary computing speed will far exceed the mining speed of mining machines currently operating in mining farms around the world for Bitcoin mining, and the passive adjustment of difficulty to produce one block every 10 minutes will lose its meaning. Similarly, Satoshi Nakamoto's public key is public, and cracking its private key with quantum computing speed will also be a piece of cake. This will pose a serious threat to the Bitcoin ecosystem and the entire blockchain.
Of course, this is all in comparison to the potential effects on Bitcoin after significant breakthroughs in quantum computing and its applications.
Currently, the application of quantum computing is still in the experimental stage, so there's no need for everyone to panic. Great figures like Vitalik have already immersed themselves in it, and by the time quantum computing is commercially applied, I believe blockchain will already have developed quantum-resistant technology.
What we small holders need to do is to avoid FUD and HOLD.