Can Bitcoin Benefit From New ‘Impossible to Crack’ Encryption Chips?

A team of researchers claims that the prototype silicon chip that they developed enables encryption that is impossible to break. According to an article published on Dec. 20 by scientific paper publication outlet Nature, the system uses chaotic wavepackets in conventional Silicon-based semiconductors.

The chip was developed by scientists from the U.K.-based School of Physics and Astronomy at the University of St. Andrews, King Abdullah University of Science and Technology in Saudi Arabia, and the Center for Unconventional Processes of Sciences in California.

The paper explains that conventional encryption standards — that cryptocurrencies rely on — could soon become obsolete due to developments in quantum computing.

It is widely believed that quantum computers would be able to break traditional encryption algorithms in a short period of time. This is seen by many as a major threat to cryptocurrencies.

In November Xinxin Fan, head of cryptography at privacy and IoT-focused…