Quantum Doomsday Clock Predicts Bitcoin’s Collapse by 2028

The Quantum Apocalypse Clock is an initiative attempting to time the exact moment when Bitcoin, as we know it today, falls to quantum supremacy, predicting this event will happen in 2 years and 4 months.

Quantum Apocalypse Clock Says Bitcoin’s Collapse is Just 2 Years Away

The Facts

While speculation about the dangers of quantum computing for Bitcoin has been in the public domain, one initiative has put a date on the cryptocurrency’s collapse at the hands of this nascent technology. The Quantum Apocalypse Clock, a portal created by Richard Carback, founder of the quantum-resistant xx network, and Colton Dillion, co-founder of Gentlemen Labs, has considered several variables to estimate when computers will achieve quantum supremacy over the crypto and break its existing security model.

The clock currently indicates that this moment could occur in 2028, estimating it could be as soon as 2 years and 4 months from now.

To reach this prediction, the clock assumes that this “break” will happen when a quantum computer meets two conditions: reaching the necessary logical quantum bit sizes for the implementation of algorithms designed to break Elliptic Curve (ECC) and RSA cryptography, and doing so under a “realistic, observed error rate.”

However, the clock’s creators concede that this break could happen faster if the current quantum computing developments shift from reducing the error rate to increasing quantum bit growth, adding more computational power to these machines.

Why It Matters

Analysts view quantum computing as one of the biggest dangers to Bitcoin and cryptocurrencies because this technology can overturn the security inherent in the cryptography technology behind them.

Developers and organizations have been warning about this and are working on solutions, such as Bitcoin Improvement Proposal (BIP) 360, designed to protect Bitcoin from the quantum apocalypse. However, the quantum threat is currently not considered a priority, and the implementation of these solutions may take some time.

Looking Ahead

Whether quantum breaks Bitcoin in two years or not, the dangers of this disruptive technology to Bitcoin and cryptocurrency should not be underestimated. The Quantum Apocalypse Clock serves as a reminder of the impending danger to Bitcoin, similar to nuclear energy, and the need to prepare for such an event.

FAQ

• What is the Quantum Apocalypse Clock? The Quantum Apocalypse Clock estimates the time when quantum computers could compromise Bitcoin’s security, currently pointing to 2028 as a critical threshold.
• What conditions must quantum computers meet to compromise cryptocurrencies? Quantum supremacy will be achieved when computers reach sufficient logical quantum bit sizes and break Elliptic Curve and RSA cryptography with a realistic error rate.
• Why is quantum computing considered a danger to Bitcoin? Analysts warn that quantum computing can endanger the cryptographic security that underpins Bitcoin and other cryptocurrencies.
• What measures are being taken to protect Bitcoin from potential quantum threats? Developers are working on solutions like Bitcoin Improvement Proposal (BIP) 360, but the urgency of these measures is not currently prioritized, which may delay implementation.

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