Bitcoin Encryption and Quantum Computers (D-Wave)

In summary, the conversation discusses the capabilities and limitations of D-Wave's quantum computer, which has been purchased by Google and Lockheed Martin. While it can outperform classical computers for certain problems, it is not capable of cracking Bitcoin's encryption. However, once genuine quantum computers become commercially available, internet security may be compromised. The conversation also mentions the real strength of Bitcoin lying in its transactions block chain and that it is typically used for minor transactions.
  • #1
FallingMan
31
0
Hi,

Not sure if this is the right place to post this but...

I understand that D-Wave has a developed an adiabetic quantum computer. Google and Lockheed Martin have both purchased these computers from D-Wave recently.

Could such a quantum computer (or perhaps future versions of it with more qubits) crack Bitcoin's encryption? I don't really understand enough about quantum mechanics or cryptography, which is why I'm asking PF people here :P

Thanks a lot!
FM
 
Physics news on Phys.org
  • #2
  • [Genuine] quantum computers are still under development.
  • D-Wave Two is most probably not a real 512 qubit quantum computer.
  • D-Wave One costs $10,000,000.
  • D-Wave is constructed to solve a specific problem.
  • Professor Umesh Vazirani [one of the founders of quantum complexity theory] stated – “even if it can be scaled to thousands of qubits, would likely not be more powerful than a cell phone”.
  • Scientists from ETH Zurich that had access to a 128 qbit D-Wave computer outperformed it by a factor of 15 using regular digital computers.
  • The SHA-512 in Bitcoin can be replaced/reinforced.
  • The real strength in Bitcoin is the transactions block chain, distributed over the entire network.
  • Bitcoin is typically for minor transactions, not millionaire deposits.
  • If/when a genuine quantum computer is commercial available, you better watch out for your Visa card and bank account – all internet security [https] will be compromised.

Don't Worry Be Happy. :smile:

https://bitcointalk.org/index.php?topic=191
 
  • #3
The answer is no.
The D-Wave computer (the 512 bit version) does indeed seem to be much faster than a classical computer for very specific problems (mainly optimization), but it is not a "normal" quantum computer and you can't run Shore's algorithm on it. Hence, it can't be used for code breaking (it seems to very good at image recognition, which is why Google is interested).

Note, however, that there mere fact that it actually does seem to work well enough for real applications is quite cool:tongue2:
 

1. What is Bitcoin encryption and how does it work?

Bitcoin encryption is the process of using mathematical algorithms to secure and protect the transfer of Bitcoin transactions. It works by using a public and private key system, where the public key is used to encrypt the transaction and the private key is used to decrypt it.

2. What is the role of quantum computers in Bitcoin encryption?

Quantum computers have the potential to break traditional encryption methods, including those used in Bitcoin transactions. This is because quantum computers use quantum bits, or qubits, which can perform calculations much faster than traditional computers and can potentially crack encryption keys.

3. How does D-Wave fit into the discussion of Bitcoin encryption and quantum computers?

D-Wave is a company that specializes in building and selling quantum computers. While their current technology is not powerful enough to break Bitcoin encryption, they are constantly working on improving their technology and may be able to do so in the future.

4. Is Bitcoin encryption vulnerable to quantum computers?

At the moment, Bitcoin encryption is not vulnerable to quantum computers. However, as quantum computing technology advances, it is possible that Bitcoin's encryption methods may become vulnerable and need to be updated.

5. What steps can be taken to protect Bitcoin encryption from quantum computers?

One potential solution is to implement post-quantum cryptography, which uses algorithms that are resistant to quantum computing attacks. Another option is to regularly update and improve the encryption methods used in Bitcoin transactions to stay ahead of potential quantum computing threats.

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