The computer is one of the most important inventions in the history of mankind, with this we have achieved so many things from making equations in a simpler and faster way to take a man to the moon, Computers have been the best invention without a doubt and has evolved so fast in recent years that today we can even make money with just one device you can make thousands of dollars and even today we can even mine digital coins which have made companies have their millions and continue with the production of the famous cryptocurrencies, so will there be a computer which achieves much more?
What is a Quantum Computer?
Quantum computing is a computing paradigm different from classical computing or classical computing. It is based on the use of cubits, a special combination of ones and zeros that are focused to solve problems faster and in a new way.
In general, this type of computers are focused to solve complex problems or even solve mathematical problems in another way and thus better understand many of the things that today has not come to solve or understand, it is believed that in the future these computers could create medicines or better understand nature, being an opportunity and a big step for humanity.
Benefits
Quantum computing offers three main advantages over classical computing: higher computing power, increased memory capacity, lower energy consumption.
Quantum computers will be used in sectors and industries that require high processing power, such as predicting the stock market, in industrial manufacturing processes, in the drug development mentioned above, cryptography, and much more.
They operate with high processing power because the key to their precision is quantum bits or qubits, which generate subatomic particles such as electrons or photons. Two of the properties of qubits allow them to provide much greater processing power than the same amount of binary bits.
Quantum superposition is another factor in the operation of this type of computer, since they focus on measuring each of the results that can occur during the combination of zeros and ones, developing complex algorithms to provide a more controlled and precise measurement.
Quantum entanglement is essential for quantum computers to acquire their processing power, since adding additional qubits to a quantum machine exponentially increases its processing capacity. The main challenge for quantum computers in terms of quantum entanglement is that any variation, such as vibrations or temperature changes, causes the quantum behavior of the qubits to decay and disappear. The use of intelligent quantum algorithms is an attempt to solve this problem.
What would it be like if a quantum computer could mine any cryptocurrency?
It would be a revolutionary invention and would provide a breakthrough to the cryptocurrency market which would give them such a huge value and above all it would be something much more environmentally friendly if the energy used is environmentally friendly.
Knowing how a quantum computer works and what is its processing capacity in addition to the speed would be something that every cryptocurrency miner would delight in, but talking a bit about mining.
What is mining bitcoins or cryptocurrencies?
Well a simple answer would be that it is a process in which transactions are validated and gathered which would then be added to a blockchain, giving more and better security to the network which in turn creates more coins to trade.
And to achieve all this process certain computing devices are used which are accessible to all public and that everyone has in their homes, common computers. They use a system of GPUs that are focused on gaming which are powerful and very fast for this type of process, these are configured and prepared for mining and are called ASICs.
What is an ASIC?
It stands for Application Specific Integrated Circuit, which is a hardware that has been designed specifically for a particular function, such as call management of a Smartphone among other things.
Disadvantage of ASIC use and mining
The negative thing that these types of devices do have is that they are not at all good for the environment as they generate extreme energy consumption in addition to causing very serious damage to the environment.
Quantum computers and the danger to Cryptocurrencies.
It is believed that quantum computers can be a threat to cryptocurrencies since they have the capacity to produce millions of cryptocurrencies in a very short time and could alter their value causing a global crisis and thus ending the cryptocurrency market.
At the same time these could decrypt and leave vulnerable the blockchain of the exchanges around the world, thus leading to the theft of millions of dollars in digital currencies, but for now for this to happen many years have to pass because the newly created quantum computer uses the amount of 150 qbits which is not enough to perform all these processes that will damage the economy of the currencies and everything that has to do with them, so how many qbits are needed to cause this damage?
According to the operators of quantum computers, 15 thousand qbits are required to achieve all this process of damaging the security, so there is time for the blockchain and Exchange around the world to create a protection system, even so the risk persists and it is still believed that within the next few years exactly for 2027 a quantum computer could achieve this fact, but they are only uncertain data. At the same time, quantum computers could break the security of the famous master keys, leaving any wallet of any person vulnerable.
Quantum Boundary Law
A quantum computer could change the world of cryptocurrencies in the blink of an eye yet they can function as the revolution of all kinds of markets only if they are focused for the good of all and especially for the markets, one of the ways which could be of help for absolutely everyone and more if we focus on the environment and is green capitalism, is to realize and follow the simple "law of Quantum limit" to use these quantum computers with a limit of qbits for mining cryptocurrencies these can be achieved with an agreement with all companies and miners which use this type of devices and also for those who have one or two quantum computers at their disposal, with this everyone could generate their income in a clean, safe and without damage to the economy of digital currencies.
thank you for reading this document we tried to make it as easy as possible to understand, I believe that in the future we could help the world with quantum computers.
I think cryptocurrencies as they are implemented to day are at risk. However, while I'm hardly an expert, I believe there are quantum resistant cryptographic algorithms being worked on.