According to a report by Fortune on November 19, Deep Tide TechFlow stated that Théau Peronnin, CEO of Nvidia's quantum computing partner Alice & Bob, indicated that Quantum Computers should have sufficient power to break Bitcoin's security features shortly after 2030.
Peronnin told Fortune at the Lisbon Web Summit that Quantum Computers could threaten cryptocurrency security by instantly solving mining mechanisms or brute-forcing wallet passwords. Currently, quantum technology is not yet a threat to cryptocurrencies, but it is developing gradually.
Peronnin suggested: “Bitcoin needs to undergo a fork upgrade to a stronger blockchain before 2030. Quantum computers will be ready to pose a threat shortly thereafter.” He added that quantum computing poses a threat not only to Bitcoin but also to all bank encryption systems that rely on cryptographic technology.
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