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Key takeaways:

• Quantum computing can handle multiple possibilities simultaneously, creating increased processing power to solve more complex problems.
• It threatens to crack cryptographic algorithms that secure cryptocurrencies, exposing private keys used to access crypto funds held in wallets.
• The quantum computing impact on blockchain is concerning, as consensus mechanisms could be easily solved and smart contracts compromised.
• Quantum computers could be available by 2030, but quantum-resistant cryptocurrencies are already being developed to protect against the threat.

Quantum computing stands poised to revolutionize technology. The step forward in computing power is truly extraordinary. In fact, Google estimates its recent quantum advancements are 241 million times more powerful than previous models and are able to instantly execute tasks that would normally take 47 years.

The full impact of quantum computing on cryptocurrency is a huge concern for the industry. Once quantum computing is fully developed, it could crack the cryptography behind digital currencies in minutes. If you own crypto, continue reading to learn about the threat of cryptocurrency vs. quantum computing, the future of cryptocurrency and quantum computing, and what you can do to protect yourself.

To read more visit CoinTelegraph.

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