How Serious Is the Threat of Quantum Computing to Crypto?

The science of quantum physics is being used to build quantum computers–powerful machines that have the ability to solve incredibly complex mathematical equations much more quickly than even the most advanced computers available today.

As such, any data that’s encrypted using mathematical equations–including banking data, intelligence data protected by the government, and encrypted messages on cell phones–is vulnerable to being exposed by quantum computing. Most notably, in this case, encrypted cryptocurrency data–such as private wallet keys–are also vulnerable to quantum computing technology.

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In other words, quantum computing could potentially be used to uncover every private key on a blockchain network, thus rendering that network’s users vulnerable to hacking and theft.

Therefore, the point in time at which quantum computers can solve problems that ordinary computers cannot–also known as the…