The digital revolution hasn’t just brought transformative innovations; it has also presented significant challenges to the cryptocurrency world. With Google’s recent launch of the Willow quantum chip, a crucial question emerges: what is the true impact of quantum computing on the security of Bitcoin and other cryptocurrencies? This concern has mobilized experts and developers in search of solutions to ensure the continuity and security of the crypto ecosystem.
This is a long read for me. I only understand is that this may lead to cryptos on wallet that has been long sleep or lose can be access or hack by this quantum. Am I right or I didn’t fully read every part.
Basically yes, blockchains will implement encryption that quantum computing cannot break, however those people who do not move their coins from the older forks risk losing them.
If understood it correct, it’s like barrier from any attackers. Then holders must generate new wallet to access this barrier?. I heard about the hard wallet is it called. Are this also can be hack.
The takeaway for non-technical people is just to keep your funds on high quality blockchains like BItcoin Cash and follow any upgrade instructions provided by the community. This will likely guarantee your funds are safe.