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 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.

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: https://www2.deloitte.com/nl/nl/pages/innovatie/artikelen/quantum-computers-and-the-bitcoin-blockchain.html

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.

WWDC is Apple Worldwide Developers Conference that takes place in San Jose, California on June 7th-11th. Even though covid restrictions are starting to be relaxed nationwide, this year’s WWDC will be a virtual event. Normally, WWDC focuses on providing developers with an in-depth view of the new features of Apple’s operating systems for its respective devices and platforms such as macOS 12, iOS 15, iPadOS 15, tvOS 15, and watchOS 8.

Note: MacRumors have a very detailed breakdown of the software improvements we think you should check out: https://www.macrumors.com/roundup/wwdc/

What we expect to see at WWDC beyond software

While the conference is all digital, there are no shortages of expectations on what will be presented for the new operating systems. In addition, will Apple announce a new and improved 14 and 16-inch MacBook Pro that includes the next generation M1 chipset and comes in a variety of colors like the previously released iMacs? 

At one point, there was a growing concern Apple would not introduce any new hardware due to the global chip shortage. While their supply chain is being impacted, it seems Apple has figured out a workaround that would still allow them to mass-produce the new M1x (MacBook Pro) and A15 chips (new iPhones to be released later this year). So the chance of them announcing new MacBook Pros and possibly next-gen MacBook Airs are very high, but, with all the hype caused by industry leakers Apple may just hold off.