Specialist on the Practical Implications of Quantum Cryptography

Scientists in China have successfully exchanged crypto keys for over 1,000 kilometers, perhaps causing hacker-proof cryptography?

Chinese scientists were able to change the encryption key at 1,120 kilometers, well above the previous 1,000-kilometer trial. The crypto specialist discusses whether this could have practical implications for the industry.

Hacker-proof cryptography?

Quantum computers have been the cornerstone of the crypto industry for many years, with some speculating that advances in this technology will make all available cryptography obsolete. Quantum engagement is used this time to exchange secret keys that can be used to encrypt and decrypt messages. One can imagine that if this technology became a commodity, it could make crypto hacking obsolete as users would be able to authorize transactions outside the Internet.

We are in touch with cryptocurrencies to see if this technology can have practical implications for the industry in the near future.

Not for the rest of our lives

Cornell University professor and Ava co-founder Emin Gün Sirer said that he had hoped for this technology for the past 40 years. He believes it will be practical sooner or later. “Yes, I do hope! I first read about this in the 1980s. At some point, it will become practical,”.

But Bitcoin Core developer Wladimir van der Laan doesn’t believe it will apply for the rest of his life:

“Realistically, I expect it to be a long while before quantum computers are available commonly enough to be applicable for a decentralized network, if ever (like: not in my lifetime)”.

Too costly

Ian Grigg, inventor of the Ricardian Contract and well-known cypherpunk does not believe that quantum cryptography has anything to offer:

“Nope. We don’t need quantum cryptography to securely distribute keys. We can do it cheaper with software methods.”

Sergio Demian Lerner, a Bitcoin RSK (BTC) researcher and designer agreed with Grigg that there are cheaper ways to get things done:

“There is no need for a quantum link to exchange keys. You just travel once, and exchange keys. And then you use those keys for the next 10 years. In my humble opinion, it has absolutely no application that can cover the infrastructure cost.”

While we wait for progress in the quantum world, a new interesting pattern in the way Satoshi Nakamoto mines has been noticed by Lerner.

Source: Cointelegraph

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