Powerful quantum computers are about to make a breakthrough. With their enormous computing power, encryption can be cracked that was previously considered secure. The Bitcoin expert Jörg Hermsdorf sees no danger for the crypto currency, as he said in a FOCUS Online webinar.
Could quantum computers threaten Bitcoin? No, says Bitcoin expert Jörg Hermsdorf. The main reason why he is not too concerned is that work on quantum computer-secure signature algorithms is already underway. In addition, the current 256-bit encryption is already very powerful.
“You don’t even know whether you can scale the quantum computer that high, because then the error rate also increases,” said Hermsdorf in his Bitcoin webinar at FOCUS Online. “It may be possible to crack small keys with ten bits, but not 256. That is exponential. Don’t forget: 255 bits is half as much as 256 bits.”
Bitcoin workshop at a special price
If you want to delve deeper into the subject of Bitcoin: Jörg Hermsdorf will give a full-day workshop on September 18th. As a reader of FOCUS Online and Finanz100 you can participate at a special price. Here you can find out more and register!