The latest claim by Google states that the company has achieved quantum supremacy. Since last three decades, quantum computing is always been a key point in tech discussions. Google has claimed that it has developed a 54-qbit quantum processor named as ‘Sycamore’. The processor was used to conduct the tests for quantum supremacy and it is said that the processor successfully finished the task and achieved quantum supremacy. The processor completed the computation target in just 200 seconds whereas the same task if given to the current supercomputer, one has to wait for nearly 10000 years to get the similar output.
For the quantum processor, generating product of two randomly generated large numbers — which is also a large number — accurately is a truly effortless thing. The processor works on superposition principles. Each bit has odd quantum nature that makes the quantum chip capable of processing massive data. As per the term Quantum Supremacy indicates, Google is now able to perform various complex and large calculations in a reasonable time as compared to any supercomputer that currently exists in the world.
When it comes to encryption and decryption scenario, the quantum computing is considered as a major threat. The blockchain networks are threatened by the ability of quantum processor to crack any kind of traditional encryption codes. According to quantum computing physicists and experts, the SHA-256 Algorithm — hashing algorithm used for generating 32-byte hash-string of passwords — is considered as notorious indicator of possible dangers. Quantum computing will help invaders to crack prominent encryption algorithms such as SHA-256 easily.
According to Patrick Dai—CEO and Founder, Qtum—the easier encryption algorithms will be attacked and cracked at the first place. As soon as, they get attacked, it will flash red for the community demanding quick changes. Breaking SHA-256 algorithm is bit difficult and time-consuming. When alarmed, the algorithm can be switched quickly and bitcoin will keep progressing.
Currently, the only way to avoid further damage, crypto platforms must be prepared for attacks.