Ethereum co-founder sees no threat from quantum computers for cryptocurrencies

  • Charles Hoskinson outlines that he sees no threat from quantum computers for cryptocurrencies.
  • Hoskinson agrees with the statements that Vitalik Buterin made on the subject.

The co-creator of the Ethereum blockchain, Charles Hoskinson, referred to the potential threat that quantum computers could pose to cryptocurrencies. The unintended “announcement” of Google’s advance in this field has been one of the most discussed issues in the cryptocommunity.

At the end of September of this year, CNF reported on this debate driven mainly by the possibility that an irruption of quantum computers in the cryptomarket could change the current status quo. A quantum computer would have the ability to decipher the blockchain of Bitcoin, which would mean a hard blow for the advance of cryptocurrencies. The reality of quantum technology, however, differs from these concerns.

Charles Hoskinson remains optimistic about quantum computers

Hoskinson, also known as the creator of Cardano, has a focused and realistic view on the threat of quantum computers. He explains that, for now, more than a means that can be used to attack the encryption of the Ethereum blockchain, the incipient progress of Google is something positive for humanity:

The reality is this computational model is here to stay. The physics are sound and it’s more of an engineering problem than a theoretical problem at this point. There’s certainly a lot of science to do and a lot of math to do and a lot of careful programming to do, but today it feels more inevitable than it did 10 years ago about whether a quantum computer will ever exist and be useful and solve real problems. And kudos to Google’s team out of Santa Barbara for the amazing work that they did there. This is literally the rocket science of our time. It’s probably the most difficult engineering mankind has ever embarked upon.

In addition, he added that the progress that quantum computers can bring is, for the most part, positive. Emphasizing the significant advances that can be achieved if this technology is used for the benefit of people.

Quantum computers are really going to change everything because what they’re basically doing is saying that there’s a whole new class of problems that previously would take the time of the universe to solve, and suddenly they’re within our grasp. So the knowledge we can gain from understanding those problems will help every field of science, from chemistry to biology to medicine and so forth.

Vitalik Buterin and his vision on quantum computers

Vitalik Buterin, founder of Ethereum, also offered statements about the emergence of quantum computers. As CNF reported, Buterin recognized the potential threat, but just as Hoskinson stressed that the technology is in its infancy.

In addition, Buterin also pointed out that quantum computers will find quantum algorithms that they will be unable to solve. Both Buterin and Hoskinson, though differently, are optimistic about the potential threat of quantum technology.

You can watch Charles Hoskinson’s full statement, in which he talks about other topics of interest, below:

About Author

Reynaldo Marquez has closely followed the growth of Bitcoin and blockchain technology since 2016. He has since worked as a columnist on crypto coins covering advances, falls and rises in the market, bifurcations and developments. He believes that crypto coins and blockchain technology will have a great positive impact on people's lives.

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