Google's Quantum Computer Can Mine The Remaining 3 Million Bitcoin In Less Than 2 Seconds

Quantum computers are said to have the potential to render bitcoin useless as they can crack its cryptography. However, there is a simpler way to achieve the same outcome.

Sycamore, the computer that allegedly gives Google’s Quantum supremacy, has managed to beat the world’s fastest supercomputer by approximately 10,000 years. In the crypto community, the news has caused panic. People fear that bitcoin will become obsolete, and solutions on how to deal with this new threat are being discussed.

The benchmark Sycamore is able to achieve has made some people think that the remaining amount of bitcoin, which is around three million, can be mined by the quantum computer in a maximum of two seconds.

However, that conclusion was built on some wrong calculations. First, the author said that every 10 minutes, one BTC is yielded by the network. However, accurate facts should be 12.5 BTC every ten minutes. This mistake alone can render the two-second theory obsolete.

Even if the quantum computer can mine all of the 2016 blocks, the network can increase the difficulty to prevent Sycamore’s attempts. However, in reality, the bitcoin network being able to make a difficulty setting reaching this level is highly unlikely.

There is one sense in which the author of this theory is right about, which is that an attempt from a quantum computer to mine bitcoin will result in the network’s denigration. The reason behind this is when the network adjusts to adapt to a quantum computer, only a more powerful machine will be able to mine the rest.

However, it is not likely that Google creates Sycamore just to target Bitcoin.

Nevertheless, to deal with a potential threat from quantum computing, worldwide communications must be upgraded so that they can resist the attack of quantum computers.