How Should Crypto Prepare for Google's 'Quantum Supremacy'?

What does Google's official claim of supremacy mean and how will practical quantum computing change the world of crypto?

These odd quantum behaviors essentially allow a quantum chip to process massive amounts of data simultaneously.

Quantum supremacy means that Google has been able to perform a calculation that is impossible to perform on traditional computing hardware.

What does quantum supremacy mean for crypto and crypto mining, where having a highly efficient machine gives you an edge over everyone else?

"My one-sentence impression of recent quantum supremacy stuff so far is that it is to real quantum computing what hydrogen bombs are to nuclear fusion. Proof that a phenomenon and the capability to extract power from it exist, but still far from directed use toward useful things," he wrote.

My one-sentence impression of recent quantum supremacy stuff so far is that it is to real quantum computing what hydrogen bombs are to nuclear fusion.

"The hashing algorithms in Proof of Work protocols that require mining are generally resistant to quantum computing. The more likely angle of attack for an adversary with a quantum computer is to break the security of wallets in PoW or Proof of Stake protocols," he said.

"Given the unpredictability of scientific progress, and the likelihood of secrecy, forecasting exactly when quantum computers will break blockchain crypto is a fool's errand. With that said, while the barriers to quantum computer development are difficult to overcome, there is no evidence that they are insurmountable."

The bottom line is simple: once quantum supremacy starts to touch real world implementations - including crypto- all heck will break loose.

"In the case of bitcoin, if someone has quantum computing capability before others, they might be able to start moving some large bitcoin balances before the network is upgraded. The best defense right now is to only use a bitcoin address once, so the public key is not revealed," said Adrian Scott, CEO of Freedom Stack, a crypto startup.