ICX / NEO and Quantum Computing Safety

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#1

Hey Everyone,

I am just curious - how could quantum computing influence blockchain in general?
Any ideas particularly on ICX / NEO ?

Thank you for all comments / ideas.


#2

A couple of insights.

  1. Quantum computing is expensive
  2. Quantum computers don’t lend themselves to mining, the hash rates are much lower than ASICs (but greater than GPU’s, but given the costs, it’s just not effective)
  3. The FUD surrounding Quantum Computers able to brute force ECDSA algorithms is simply FUD. The size of Quantum computer needed to do that requires 250 million qubits. The largest today has 2048 qubits manufactured by D-Wave Q2000. Engineers have stated that building a 250 million quibit Quantum computer may not even be possible, while other engineers say it is a technical problem that might be overcome in 20+ years.
  4. The Quantum programming language is complex, it might lend itself to Dapps/Smart Contracts, but again, given the costs, not really effective (yet).

Given the current state of play, I do not believe Quantum Computers will be effectively used for Blockchain, they are however, effective for Artificial Intelligence and Machine Learning. Blockchains that utilise it for it’s strength, may have something, but again, its seriously expensive. Right now, only a few Government agencies can afford Quantum computing time and are using it for Gene Mapping, Terrain Mapping and other mundane and significantly repetitive number crunching tasks, Quantum’s strength is in massive parallelism which can be used for CGI rendering at some point, but the price tag even excludes that (for now).

Hope this helps.

Stay Fishy


#3

Appreciate your useful insight @Mike_Fishy

This calmed me down a bit :wink:
Sorry it took me so long to get back

All the best !