Connect with us
Quantum Computers Jeopardizes Bitcoin Blockchain Quantum Computers Jeopardizes Bitcoin Blockchain


Bitcoin Blockchain Vulnerable to Quantum Computers

Quantum computers have tremendous potential to impact the cryptocurrency blockchains and the way we live, work, and play. 



Quantum computers have tremendous potential to impact Bitcoin and any other cryptocurrency blockchains as well as the way we live, work, and play. 

What is a Quantum Computer?

As the name suggests, quantum computing relies on the principles of quantum mechanics to perform calculations at an atomic level. Through the use of these principles, quantum computers are capable of performing tasks with unbelievable speeds that would take conventional computers centuries to process.

Quantum Computer

Quantum computers are different from traditional computers because they use quantum mechanics. They use the principles of quantum physics to process data at rates far greater than any traditional computer system.

A quantum computer is made up of several qubits which can move around as both a particle and wave simultaneously. These qubits can be in multiple states at any one moment in time, unlike the binary system of traditional computers where each bit can be either 0 or 1. This means that many computations can take place simultaneously on one machine with quantum computing than in serial with traditional computers.

What is the Bitcoin Blockchain and how does it work?

Bitcoin is a digital currency and Blockchain is a digital ledger that is used to record all Bitcoin transactions.

How the Bitcoin Blockchain Works

Courtesy ResearchGate

Blockchain technology was created to support bitcoin transactions and it can be used for other types of transactions. It has a lot of advantages that are not present in traditional transaction methods such as credit cards. It serves as an open, shared, and distributed ledger that can be easily accessed by anyone on the internet.

Blockchain provides a decentralized platform where people can make transactions quickly without intermediaries or central authorities. All you need is the public key address which you can find in your browser’s URL bar or from your wallet’s public address.

How can quantum computing jeopardize the Bitcoin Blockchain?

Since the beginning, strong encryption has been used to secure internet transactions, private messages, and data by encoding the information in a way that can only be decoded using a complex mathematical equation. The strength of encryption is often measured by how difficult it would be to break the code. The blockchains that are the core foundation of Bitcoin and all cryptocurrencies rely on mathematical encryption ciphers to ensure the transactions and data communications are secured.

Industry professionals, as well as bad actors, have been trying to find a quick and efficient way to crack the most complex encryption ciphers for years, but there has not been any progress in the field until now.

A quantum computer may be able to solve these math problems much faster than a traditional digital one due to its ability to hold exponentially more information at once. This would pose a direct threat to cryptocurrencies and other digital services that support various industries.

Deloitte has an in-depth analysis worth checking out here:

Quantum computers are still a very new technology and are not currently available to the public. However, the impact they’ll have on our world will be tremendous, and directly change how cryptocurrency, banking, private messaging, data storage, national security and trade secrets are handled.


How NFTs are Changing Real Estate

The real estate industry has undergone major changes in recent years, and the next big step is the use of non-fungible tokens (NFT) to unlock homeowners’ home equity. Here’s why.



NFT and Real Estate

How NFTs are Changing Real Estate

Since the inception of blockchain technology and cryptocurrency, there have been a flurry of new projects and applications being created. One such application is Non-Fungible Tokens (NFTs).

NFTs are unique in that they represent an individual asset on a blockchain. The recent spate of eye-popping NFT purchases, including the 10,000 NFTs of the Bored Ape Yacht Club fame, is bringing a lot of attention to the potential within the technology.

This continues to fuel their use in a variety of industries outside of cryptocurrency, including both virtual and physical real estate.

Real Estate is starting to embrace blockchain and NFTs

The first recorded NFT property sale was in January of 2019 when a virtual world (metaverse) called Decentraland sold a virtual plot of land for $200,000. The land was purchased with the cryptocurrency Ethereum. Two years later, it sold a plot of land for a whopping $2.4 million. The precedent had been set for other NFT property sales that followed suit.

These sales demonstrated there is a tangible market for NFT properties. But more importantly, the technology behind it. NFT purchases are fast, easy, can be done at any time and are trackable forever on the blockchain.

This ease of purchase, and the ability to parse ownership across sellable NFTs, caught the attention of the physical real estate industry.

Tapping into home equity using NFTs

A big benefit of NFT purchases of virtual land is the lack of government regulation. This can be seen as a positive or negative, depending on your view. On the one hand, it allows for a free market with less bureaucracy. On the other, it could also lead to more scams and fraud.

Compare this to getting a traditional home equity loan. It’s much like the original home purchase process, with only a few less steps. It’s long, there’s still a ton of paperwork and plenty of fees and required middlemen to take their cut along the way.

Straddling the virtual and physical worlds

Using NFTs to unlock your home’s equity is done by creating a digital representation of a home and selling it as an NFT in an online marketplace. What’s more, the actual sale can potentially be done in minutes. The proceeds can be used as a down payment on a new home, investment property, or anything else the homeowner desires.

The downside is that there are still some risks involved. The biggest risk is the value of the NFT could drop. This leaves the homeowners with less money than they started with.

Compare this to the physical world. When your home value drops below its outstanding debt (primary mortgage plus equity loan), you’re upside down. But with the equity loan money already in your hands, you’re putting off that debt with the hope the future value rises enough to recoup it.

Do your homework!

NFTs are still in their early days, but they hold a lot of promise to offer peer-to-peer, streamlined transactions. For real estate investors and homeowners alike, they offer a new way to tap into the equity of their property. And as technology matures, we can only expect more innovation in this space.

The most important thing is to educate yourself and be sure to first seek legal advice from those who specialize in NFT transactions. Remember, you and your house still live and operate in the real world.

This article is not intended as investment or legal advice.

Continue Reading


What Are Non-Fungible Tokens (NFTs)

Ever heard of Bitcoin, Ethereum, and the various altcoins? There’s a new cryptocurrency type on the block and it’s called a Non-Fungible Token or NFT for short.



What Are Non-fungible Tokens

Ever heard of Bitcoin, Ethereum, Litecoin, and the thousands of altcoins that make up the cryptocurrency world? Well, there’s a new kid on the block and it’s called NFT or short for Non-Fungible Tokens. If you’ve been following the cryptocurrency space in the last few months you know what I’m talking about. For the uninitiated, get ready to be rocked.

What Is a Non-Fungible Token (NFT)? 

Non-fungible tokens or NFTs are cryptographic assets on blockchain with unique identification codes and metadata that distinguish them from each other. Unlike cryptocurrencies, they cannot be traded or exchanged at equivalency. This differs from fungible tokens like cryptocurrencies, which are identical to each other and, therefore, can be used as a medium for commercial transactions.


How Are NFTs Used?

The distinct construction of each NFT has the potential for several use cases. For example, they are an ideal vehicle to digitally represent physical assets like real estate and artwork. Because they are based on blockchains, NFTs can also be used to remove intermediaries and connect artists with audiences or for identity management. NFTs can remove intermediaries, simplify transactions, and create new markets.

In fact, in the last several months there have been several large art sales happening with the most expensive (at the time of this post) being the Beeple sale of $69 million. Yes, you read that right. As crazy as that might sound, the NFT marketplace is booming with some crazy digital art sales.  Here are 11 of the highest NFT sales.

As NFTs gain in popularity, so are the amount of NFT marketplaces growing in numbers. According to the guys at Influencer Marketing Hub, these are the top 10 Marketplaces for buying and selling non-Fungible Tokens (NFTs):

NFTs in a Nutshell

What you need to know about NFTs


If you’re an artist or a digital media creator it wouldn’t hurt to try your hand at selling some of your artwork on one of the many NFT marketplaces. Who knows, maybe it just might be a life-changing experience with life-changing rewards.

Continue Reading


Dogecoin On Track to Hit One Dollar

Dogecoin is on track to hit one dollar and everyone is excited. Mark Cuban himself has already stated Dogecoin will hit $1 and become a stablecoin.



Dogecoin Will Hit $1

Dogecoin is on track to hit one dollar and everyone is excited. Mark Cuban himself has already stated Dogecoin will hit $1 and become a stablecoin. Even though Dogecoin started as a joke, no one is laughing anymore as its market cap currently exceeds Coinbase and many other companies publicly traded in the stock market. 

Dogecoin Now The 4th Largest Cryptocurrency

Mark Cuban and Elon Musk have made it their personal mission to see Dogecoin hit the $1 mark and exceed it. If that happens, Dogecoin will dethrone Binance Coin and become the 3rd largest cryptocurrency in the world. Perhaps Elon Musk’s Saturday Night Live appearance will give Dogecoin the additional fuel it needs to blast past the $1 threshold? Let’s hear what Graham Stephan has to say.

Continue Reading