How Will Bitcoin Defend Against Quantum Computing? This Job Simply Raised $6M
The post How Will Bitcoin Defend Against Quantum Computing? This Job Just Raised $6M appeared on BitcoinEthereumNews.com.In brief Job 11 has raised $6 million to secure Bitcoin’s network from quantum computing. Quantum computing is a new type of technology which has not yet been launched. Still, some in the crypto space worry that it will one day have the ability to break Bitcoin’s cryptography. A start-up has raised $6 million in a seed round to secure Bitcoin from quantum computing. Task 11, which focuses on quantum computing’s theoretical hazard to the leading crypto network, revealed the raise Thursday, which was co-led by Variant and Quantonation, and consisted of involvement from venture capital companies Castle Island Ventures, Nebular, and Development. The firm said that quantum computing is a danger to Bitcoin so “every wallet, every account holder, every wise agreement key– all of it– must upgrade to new, quantum-safe cryptography.” “A cryptographically pertinent quantum computer will break the fundamental security assumptions of Bitcoin and almost every digital possession,” Project 11 said in a statement. “With quick progress from business like IBM and Google, that future is no longer hypothetical. It’s coming quick and there isn’t long to prepare.” Quantum computing is a brand-new type of technology that utilizes quantum physics to process far larger amounts of details than classical devices. Such computers aren’t available to the general public yet and leading tech companies like Google and IBM are working on developing them. But some in the crypto area have actually raised issues that as tech giants make bigger strides to releasing a quantum computer system, Bitcoin’s cryptography might be cracked. The Bitcoin network is currently the world’s most secure computing network– and has actually never been hacked. In order to split the network’s cryptography, a bad star would need to take control of more than 50% of the Bitcoin network, which would need a substantial quantity of computing power. Hardcore Bitcoiners like Technique co-founder and …
The post How Will Bitcoin Defend Against Quantum Computing? A start-up has raised $6 million in a seed round to protect Bitcoin from quantum computing. Quantum computing is a brand-new type of technology that uses quantum physics to process far larger amounts of information than classical machines.
In quick Project 11 has raised $6 million to protect Bitcoin’s network from quantum computing. Quantum computing is a brand-new type of technology that utilizes quantum physics to process far bigger quantities of information than classical machines. Hardcore Bitcoiners like Method co-founder and chairman Michael Saylor have actually shrugged off issues about quantum computing, saying that when such a threat exists, other computing networks– used by the likes of banking giants or the U.S. armed force– will face a bigger threat.
In brief Job 11 has actually raised $6 million to protect Bitcoin’s network from quantum computing. Quantum computing is a new type of innovation that utilizes quantum physics to process far larger amounts of information than classical makers. Hardcore Bitcoiners like Method co-founder and chairman Michael Saylor have shrugged off concerns about quantum computing, stating that when such a hazard exists, other computing networks– utilized by the likes of banking giants or the U.S. military– will face a bigger risk.
