McKinsey on blockchain treat: “potential security challenge arises from advances in quantum computing. Google said in 2016 its quantum prototype was 10 million times faster than any computer in its lab. That raises the possibility that quantum computers will be able to hack codes used to authorize cryptocurrency transactions” https://bit.ly/2FvvAC5
McKinsey & Company
Blockchain’s Occam problem
Blockchain has yet to become the game-changer some expected. A key to finding the value is to apply the technology only when it is the simplest solution available.
SEC and other government agencies (NSA plans using quantum computers to break hard targets) preparing to analyze publicly available blockchains and willing to attribute addresses with owners data. Check recent sources sought announcement on fbo.gov by SEC here https://www.fbo.gov/index?s=opportunity&mode=form&id=c18a03f93cf06df47dab8a1c1a7f87a9&tab=core&_cview=0
So all currencies (like Bitcoin, Monero, Grin etc) not using post-quantum cryptography are vulnerable and going to be cracked by governments in like 10 years - all current data going to be still in public blockchains and most of crypto-enthusiasts alive to face governments charges.
So all currencies (like Bitcoin, Monero, Grin etc) not using post-quantum cryptography are vulnerable and going to be cracked by governments in like 10 years - all current data going to be still in public blockchains and most of crypto-enthusiasts alive to face governments charges.
Once it becomes a reality, a general quantum computer with long coherence times will easily be able to defeat today’s encryption schemes, for example. That’s not what today’s announcement is about, but it is surely something that all of the world’s governments are thinking about.
How UK government wants to track your crypto transactions https://www.theblockcrypto.com/post/53473/uks-tax-authority-wants-to-deploy-a-blockchain-analytics-tool-to-catch-crypto-cybercriminals
The Block
UK’s tax authority wants to deploy a blockchain analytics tool to catch crypto cybercriminals
HM Revenue and Customs (HMRC) is looking for a tool which, at a minimum, would help track seven digital assets - bitcoin (BTC), bitcoin cash (BTC), ether (ETH), ether classic (ETC), XRP, litecoin (LTC) and Tether (USDT) stablecoin.