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He replied: “That’s a very good question. What does that mean for Bitcoin?, I asked Ding during the webinar. In 2019, I serialized a spy thriller in Asia Times under the title, The Quantum Supremacy, premised on just such a scenario. I think this is what I would do,” he said. “If I can read every message, why wouldn’t I keep quiet about it? I would be in a very good position. British signals intelligence (GCHQ) didn’t reveal until the 1970s that it could read German coded messages in close to real time during World War II.
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“Watch the movie ‘Imitation Game’ about Turing,” the great British mathematician who led the team that broke the German Enigma code during World War II. When will that happen? It might have happened already, but if it has, no-one will let on, Ding explained. There are rumors in the tech world that machines capable of using Shor’s algorithm to break RSA already exist. Mathematicians have known that quantum computers would be able to break the RSA code quickly since 1994, when Peter Shor published an algorithm for factoring extremely large numbers into primes.ĭevelopment of such a quantum computer is inevitable, Ding argues. And the transition process will be very difficult,” Ding added. We must work together to have a smooth transition from the current situation and find a solution. Today’s encryption methods “can be broken by quantum computers. Maybe they already can-but if that’s the case, no one is saying so yet. But quantum computers will be able to factor extremely large numbers into primes very quickly. Factoring extremely large numbers into primes, decrypting the private key requires factoring extremely large numbers into primes, something that takes supercomputers a very long time to do.Īs computers get faster, cryptography uses bigger numbers. The public key is based on two very large prime numbers, which are secret only the recipient knows the prime numbers, which are required to decrypt the message.
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Each user has a public key for purposes of identification, and a private key-a password-for decryption. Public key cryptography based on the RSA standard has been in use since the late 1970s. “If we have a quantum computer, our Zoom would be finished, and everything actually-the whole information system, because our fundamental security solution relies on it.” “Our modern information system relies completely on public key cryptography, including Bitcoin,” Ding told the “Data Wars” webinar, co-sponsored by the American Affairs journal and Asia Times. No government dislikes Bitcoin as much as China, which banned onshore trading of cryptocurrencies in 2019 and forbade Chinese from trading on offshore crypto exchanges last September. “Most governments like Bitcoin as much as we like walking with rocks in our shoes,” Sun added. Motley Fool’s Zhiyuan Sun wrote in September, “The rise of quantum computing may soon give governments a means to crack down on Bitcoin and other types of cryptocurrencies… Governments could potentially decrypt digital currencies or launch hash attacks to take over their network for a regulatory shutdown with these machines.” And the best thing about hacking Bitcoin, he explained, is that it isn’t against the law.Ĭrypto analysts have worried about the quantum invasion for some time. You won’t know if it’s happening until it’s too late, Professor Jintao Ding of Tsinghua University explained.
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HOW TO GET FREE BRAZZERS PREMIUM ACCOUNTIMPORTANT INFO!You can see another second website (not like me in video, but you may fill all like me with some rando.NEW YORK – $3 trillion of cryptocurrency assets are, or soon will be, vulnerable to hacking by quantum computers, one of China’s top cryptographers told an Asia Times webinar on November 30.
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