Can blockchain be hacked? Blockchain Vs Quantum Hackers

loading Can blockchain be hacked? Blockchain Vs Quantum Hackers

Even though blockchain technology is reshaping the future, the technology is facing constant threats from quantum-based hackers. Both the technologies are at top of their game and now it’s time for them to join hands to protect the data stored.

The field of science and technology has seen numerous rivalries in the past; ever since the field started evolving there has been a constant clash between leading technologies of that time, petrol and diesel engine, AC and DC power, and now the clash of titans- “Blockchain supporters and Quantum computer hackers.” Blockchain supporters are celebrating the security of the system but at the same time, quantum hackers are using brute force to breach blockchain platform.

Inherent qualities of blockchain technology are taking the technology to places, and the present year has seen the potential of blockchain technology in various fields. All the major industries are happy with the test run results are have announced the integration of blockchain technology in their field with the first quarter of 2019. The same qualities that are taking blockchain places can also become the threatening facets of the technology, it is predicted that blockchain technology can be breached in the year 2019 all credits to quantum computing.

Quantum Computing

An advanced technology yet to reach the surface, the quantum computer is lightning fast when compared with the present computer. They are capable of performing millions of calculations simultaneously when the present day modern computer is travelling in a single path of the maze, quantum computers are capable of navigating multiple paths. That means they are capable of solving complex calculations within a matter of minutes.

The quick pace of quantum computers will help them in breaking complex encryptions faster than expected, putting all the data at risk. It is safe to say that blockchain hasn’t met its equal opponent. Talents from MIT and the University of Innsbruck in the year 2016 have successfully built a quantum computer that they claimed if scaled up could easily break the RSA encryption, the encryption used for securing everything from personal messages to online shopping.

Blockchain vs Quantum computing  

A single most drawback for the blockchain technology is all the blocks are readily available for criminal organisations and surveillance organisations to gather the required information. Even though all those blocks are available now also there is not enough computational power to break the encryption. There will come a time where quantum computers will be cheap and that is when all the data in the stockpile will be in danger. “Entanglement” is another ability that can place quantum computing at the top, this will help the machine to take logical steps which cannot be performed by the present computers.

loading Can blockchain be hacked?

Right now, they can’t do anything with them because they are encrypted, but when quantum computing gets cheap enough, there could be huge leaks of blockchain data that is potentially being stockpiled now. It’s like keeping your valuables in a padlocked box but then leaving it out on the street. Quantum’s “entanglement” ability also enables it to make logical leaps conventional computers never would. It could fill in the gaps between data harvested from a few blocks back.

The march from theory to prototype, happened in just a few years, all this proves that the quantum computing hitting the streets is not far. Google, the tech giant, unveiled “Bristlecone” in the year 2018. A single chip with 72 qubits, it is believed to be the crown jewel of Quantum computing. Mass production of the chip will be the foundation stone for the quantum computing world. At the present time, the technology is getting refined, we are just a few months away from seeing qubit processors and mega-qubit machines taking the world by storm.

Experts are concerned, every year the industry is witnessing a workshop that includes tech giants and government officials. The workshop mainly discusses the Quantum-Safe Cryptography, to obtain a solution to the potential threats. The war between innovative ideas come to an end when they combine together for the benefit of the community. the same has to happen with quantum computing and blockchain.

With increasing attacks on personal data, the digital ledger should either join hands with quantum computing or build a strong wall of defence against the system. If either of the steps is not taken then the blockchain technology will be giving all the information to quantum computing in a silver platter. Evolving technologies are nothing new in this era, threats to defend against is getting stronger and stronger, blockchain technology should step up for the

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