Stefan Mileschin

Although there will be plenty of warning

Quantum computers could break the cryptographic security that protects cell phones, bank accounts, email addresses and bitcoin wallets within the next ten years.

Thorsten Groetker, former Utimaco CTO and one of the top experts in the field of quantum computing said that this worst-case scenario will only happen if warnings are ignored.

Crypto experts not that worried about quantum hacking of bitcoin wallets for a couple of different reasons. Castle Island Ventures founding partner Nic Carter pointed out that quantum breaks would be gradual rather than sudden.

"We would have plenty of forewarning if quantum computing was reaching the stage of maturity and sophistication at which it started to threaten our core cryptographic primitives. It wouldn't be something that happens overnight."

There is also the fact that the community knows that it is coming, and researchers are already in the process of building quantum-safe cryptography.

Fred Thiel, CEO of cryptocurrency mining specialist Marathon Digital Holdings said that the National Institute of Science and Technology (NIST) has been working on a new standard for encryption for the future that's quantum-proof.

NIST is running that selection process now, picking the best candidates and standardising them.

https://fudzilla.com/news/53042-bitc...ntum-computers