This week in quantum computing: Quantum Inspired! If you don’t get good qubits just simulate them! The main public companies such as D-Wave, IonQ, Rigetti, and Quantum Computing Inc. reported regular losses for 2022, with higher losses expected in 2023. QURECA launched the Qureka! Box to educate high school and undergraduate students about quantum computing. Research papers explored heuristics for the 3-SAT problem and a framework for demonstrating practical quantum advantage. Quantum Source, a photonic quantum computing startup, extended its seed round to $27 million, while Quanscient raised €3.9 million to accelerate product development. D-Wave announced a breakthrough in quantum annealing, and Moderna partnered with IBM to apply AI and quantum computing to mRNA technology.In other news, the Indian Cabinet approved the National Quantum Mission to scale up scientific and industrial R&D for quantum technologies. ETH Zurich researchers achieved the heaviest Schrödinger cat by putting a small crystal into a superposition of two oscillation states. A talent crunch in quantum computing has led to a search for the right courses to address the growing demand for skilled professionals. Ericsson and the Canadian government invested $470 million CAD in a five-year R&D partnership that includes quantum computing.
"False. ... there is nothing (that I know of) that proves the contrary."
The quantum threat to blockchain is more nuanced. Bitcoin blockchain uses different types of addresses with different threat profiles. Older addresses are public key based (p2pk) and are vulnerable to quantum attack. Old addresses contain 4 million BTC or over 25% of all bitcoins. At the current price it is over $156B.
Newer addresses (post-2010) are hash-based (such as p2pkh addresses) and are immune to quantum attacks, but only if the funds never moved out. If even a small amount of funds moved from this address type, the public key is revealed and is vulnerable to quantum attack.
Re. 3. ‘Breaking’ The Blockchain:
"False. ... there is nothing (that I know of) that proves the contrary."
The quantum threat to blockchain is more nuanced. Bitcoin blockchain uses different types of addresses with different threat profiles. Older addresses are public key based (p2pk) and are vulnerable to quantum attack. Old addresses contain 4 million BTC or over 25% of all bitcoins. At the current price it is over $156B.
Newer addresses (post-2010) are hash-based (such as p2pkh addresses) and are immune to quantum attacks, but only if the funds never moved out. If even a small amount of funds moved from this address type, the public key is revealed and is vulnerable to quantum attack.
Deloitte has a good article about this issue: https://www2.deloitte.com/nl/nl/pages/innovatie/artikelen/quantum-computers-and-the-bitcoin-blockchain.html
More detailed analysis quantum vulnerability of different blockchain technologies is available in this paper: https://www.nature.com/articles/s41598-023-32701-6.pdf
PS. Thanks for sharing your insights on a panel at QuantumTech'23 in Boston!
Thanks a lot! I was not aware of that fact.