Bitcoin price crash: Crypto plunges by 9% as billions wiped off market

Post by cevi » Sat, Jan 22, 2022, 2:44 PM UTC

saurik wrote: post #9

cevi wrote: post #5

Earlier quoted context omitted.

Why would SHA-256 be vulnerable to quantum computing? Grover's algorithm only gives a square-root speedup for reversing hash functions, and that's in the best-case scenario where there are no engineering issues (e.g. the need for error correction) which could create polynomial overhead. That still leaves you with 128 bits of security. Quantum computing could certainly break elliptic curve cryptography, but my underst…

When you sign something with your private key you expose your public key. This means 1) if you receive money to an address and move that money elsewhere, subsequent money sent to that address is going to an address whose public key is public; and 2) if you publish a transaction to the blockchain someone else can see it before it commits and get your public key and attempt to race you to having a transaction including…

Post by mahieddine » Sat, Jan 22, 2022, 10:20 PM UTC

linschn wrote: post #3

uejfiweun wrote: post #2

The seeming culprit is the Federal Reserve planning to raise interest rates. However, I wonder - could a cause of this be quantum computing breakthroughs? I read today that an Australian research team was able to achieve 99% accuracy in quantum calculations: https://scitechdaily.com/major-breakthrough-as-quantum-compu... . Please correct me if I'm wrong, but my understanding is that quantum computers would totally br…

When they will be able to do it in practice, the protocol will change to use a quantum resistant hashing algorithm.