Bitcoin’s SHA-256 algorithm makes it extremely difficult to break into the Bitcoin code.
But if quantum computing hardware takes a leap growth over regular transistor chips, one can break into the Bitcoin code by the next decade.
The Bitcoin blockchain is believed to be one of the strongest blockchain platforms currently in the market. While attackers have been trying in the past to break the Bitcoin code, they haven’t found any major success in it. Bitcoin’s decentralized and distributed ledger makes it even stronger with the rising number of participants.
However, the latest research shows that a quantum computer will need only another 10 years to crack Bitcoin’s secure cryptographic algorithm. Mark Webber, a quantum computing graduate from Ion Quantum Technology Group at the University of Sussex has published a report along with his colleagues.
The study conducted by these graduates concluded that Quantum computers need to be a million times larger than the current state
