Crypto Security – December 5, 2021

Buuuuuuuut, Crypto is unhackable🤥

Enter Quantum Computers

Cryptocurrency: Trillion-dollar cryptocurrency threatened by quantum computers, know why investors warned?

Summary

According to a report in Asia Times, crypto analysts have been warning of hacking through quantum computers for some time now. Analyst Zhiyuan Sun wrote last September that with the development of quantum computing, governments will soon have the tools to act on bitcoin and other cryptocurrencies. Then possibly governments will be able to crack the encryption (confidential codes) of digital currencies and act on their networks.

Expansion

Nearly $3 trillion in cryptocurrency assets are at risk of hacking. This hacking can be done through quantum computers. This was said in a webinar. One cryptocurrency investor warned the world about this apprehension. The webinar was organized by the website Asia Times. In it, Professor Jintao Ding at Tsinghua University in China made a presentation about this possible hacking. He said that the best thing for hackers of bitcoin is that hacking it is not illegal. Jintao is a US citizen.

According to a report in Asia Times, crypto analysts have been warning of hacking through quantum computers for some time now. Analyst Zhiyuan Sun wrote last September that with the development of quantum computing, governments will soon have the tools to act on bitcoin and other cryptocurrencies. Then possibly governments will be able to crack the encryption (confidential codes) of digital currencies and act on their networks.

Sun had said that no other government in the world says as much as the Chinese government dislikes cryptocurrencies. China has banned the trending of cryptocurrencies here. Now Jintao has given more detailed and new information about the possible hacking of these currencies. “Our modern information system completely depends on cryptography,” he said. But if someone has a quantum computer, it will destroy the entire information system on which our security solutions depend.

Jintao said that quantum computers would be capable of breaking today’s encryption methods. Therefore, all the people associated with the business of crypto should find a solution together. However, he said that doing so would be a difficult task. In the webinar, experts pointed out that the current encryption methods rely on the RSA standard. This standard came into existence in 1994. It has been able to maintain confidentiality so far. But quantum computers will be able to break these in order to process an infinite amount of numbers quickly.

According to Jintao, it is possible that only some people have been able to do such hacking. He said that bitcoin or other cryptocurrencies depend on a technology called blockchain. Explaining bitcoin, he said – you are not the owner of bitcoin. The owner is a private key. Now you pay, you get that key. The address you are given is a shortened form of a public key. This key remains confidential. If this confidentiality is broken, then your entire amount will be in danger.

Experts pointed out that the name or identification number of the person who bought the bitcoin is not linked to his bitcoin account. The only proof that someone is the owner of that coin is the private key. There is currently no law preventing the hacking of this key. Therefore, those hacking it will be in a position to defraud the rest of the news dollars.

Read more: https://www.amarujala.com/business/trillion-dollars-cryptocurrency-threatened-by-quantum-computers-know-why-investors-warned-latest-news-update

By cindyloucbp

Cynthia is the typical Pisces! Her left brain activities include scientific activities in the hospital laboratory as a director. Her right-brain activites show as a painter, photographer and musician. She is known as the scientist who sings!

Leave a comment

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Hidden in the Crag

I talk about what others won't

Rose Rambles...

What in the World is on Cynthia's mind? Love, Spirituality, Free Energy, Abundance, Quantum Awareness

Quantum Quickening

Quantum, Expansion, Exporation, All That Is, The Art of BEing Hue-man, New Earth

THE DIVINE HERESIES

"TRUTH IS STRANGER THAN FICTION"

Sunny's Journal

We are going Quantum!

Welcome to Brenda's Blog

Helping others access and implement new creative skills.

Captain's Blog

News for the Collective Cosmic Journey

HighHeartLife

Denise Le Fay

Starship Earth: The Big Picture

What's happening on our planet---and why

Judith Kusel

Soul Empowerment and Inspirational

THE MIND OF RD REVILO, The Blog (& Podcasts) 4 BLACK Men

Conscious Thought: Driven by Intelligent Awareness

I Write The Music

Pushing At The Edges Of Creativity

Higher Density Blog

Love Is Always The Answer

GaiaPortal

Gaia Energy Messages

Éireport Blog

Éireport Group Energy Reporting

%d bloggers like this: