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imagine a computer that can solve today's hardest problems in seconds that would take today's best supercomputers millions of years sounds like science fiction right well Google's brand new Willow chip is making that a reality and it could change everything especially if you're holding Bitcoin or any crypto on today's Bloom Academy we'll break down what the willow chip is explain how quantum computers work and answer the question that is on top of all our minds can Bitcoin be hacked I'm your host K and let's dive into it so what is quantum Computing well regular computers like this one process information using bits think of bits like light switches that can either be on or off just two states this binary system has worked well for decades but quantum computers can do both instead of bids quantum computers use cubits and Cubit can exist in both an on and an off State at the same time thanks to something called superposition picture flipping a coin while it's spinning in the air is it heads or tails well it's both at the same time but once the coin lands it's either heads or tails that spinning moment is basically like cubid it can be in both States at the same time a zero and a one simultaneously until you measure it and see if if it lands in one state this amazing ability to hold multiple States at once lets quantum computers solve problems at speeds we can't even comprehend and speeds that are simply impossible for regular computers to do now let's put that into perspective let's say you are playing a game of chess with a regular computer the regular computer will check each possible move one by one deciding how to proceed forward a quantum computer well it has the potential to analyze all possible moves at the same time pretty wild right and there's more quantum computers also leverage quantum entanglement this is when cubits become linked together so the state of one cubit instantly affects the state of another no matter how far they are apart these unique traits of cubits create a massive boost of computational power allowing quantum computers to solve complex problems that are simply impossible for classical computers to even touch the potential is huge from groundbreaking Healthcare Innovations like curing cancer to solving some of the universe's biggest mysteries quantum computers could revolutionize everything but of course there's also a worrisome side to it which is why you're here quantum computers could also disrupt the digital encryption that keeps all our data Banking and cryptocurrencies safe so let's get to the question that is on top of everyone's mind can Bitcoin be hacked Bitcoin security relies on cryptographic algorithm basically math formulas that protect your transaction and wallets Bitcoin uses two main algorithms one is ecdsa 2560 this algorithm generates the public and private keys that secure Bitcoin wallets the public key is shared to receive Bitcoin while the private key is the sensitive part that lets you spend it right now it's computationally infeasible for the current computers to reverse engineer the private key from the public one but quantum computer using something called Shores algorithm could potentially crack this and figure out your private key letting hackers steal your Bitcoin the second security algorithm is sha256 something You' probably heard about before this algorithm secures Bitcoin blockchain it makes it nearly possible to reverse engineer transaction data or find two different inputs that produce the same output but with quantum computers growth algorithm could speed up this process making it easier to Brute Force the sha256 hash to simplify all of this imagine you have a safe with a combination lock on it this is bitcoin's encryption classical computer would have to try each possible combination one by one taking million of years now a quantum computer with the ability to check all the combination all at once wouldn't take millions of years or even years it could do it in just a few seconds this is how a quantum computer could potentially crack bitcoin's encryption so should we be panicking about Quantum Computing hacking Bitcoin right now no not yet Google's Willow chip is a huge leap forward in Quantum Computing but it's still not anywhere near capable of cracking Bitcoins encryption Willow currently has 100 5 cubits to even think about breaking sha2 560 would require millions of error corrected cubits something that is still a decade or more away but in either case let's talk about the future what's the plan for Bitcoin in a Quantum world even though quantum computers aren't a threat yet Bitcoin is in fact already preparing for the future the beauty of bitcoin's decentralized design is that it can evolve if quantum Compu Compu start to pose a real threat Bitcoin can upgrade its cryptographic algorithm to Quantum resistant encryption that would likely require hard fork and upgrade to the Bitcoin protocol but it's totally doable and has happened before like during the Bitcoin cash split in 2017 researchers are already working on post Quantum cryptography encryption specifically designed to withstand Quantum attacks as quantum computers Advance these algorithms could replace the old ones keeping Bitcoin secure Google's Willow chip is a major step forward in Quantum powered future but it's not a threat to bitcoin yet still it serves a great reminder that we are entering a new era of computing think back to the early days of the internet from the '90s or even early 2000s it was slow clunky and it's hard to imagine that it would have changed the world it did but it did you're now watching this online and liking this video quantum computer could be the same transforming Industries and solving problems we've never even dreamt of solving the quantum Revolution is on the horizon and Bitcoin will be ready for it will you be
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