30s Summary

Google’s new quantum chip, Willow, could potentially break cryptographic algorithms securing online activities, including cryptocurrencies. However, a solution may already exist in Zero-Knowledge (ZK) proofs, a tech impervious to quantum computing that makes transactions faster, cheaper, and more private. As quantum computers could have master keys to every code password, ZK tech offers security and a potential path forward. This demonstrates the power of cryptography in maintaining digital security.

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Google’s new quantum chip, Willow, is quite a big deal, and has everyone in the tech world talking. To understand why, you need to know that quantum computing uses quantum physics to solve problems way faster than standard computers. Essentially, Google’s Willow can do things in minutes that would take modern computers forever to do.

Now, this is incredible but it could also be problematic. If you’re into tech, you’ve probably heard about cryptography, which is used to secure everything from your online shopping to your social media profiles. The thing with quantum computers like Willow is that they could potentially break these cryptographic algorithms, the ones that current computers can’t touch.

This is especially big news for cryptocurrencies, since they’re built on cryptography. Cryptocurrencies use encryption to secure transactions and other things like the wallets they’re stored in. With current computers, that’s all well and good, but throw a quantum computer into the mix and it could solve all the underlying crypto problems. In other words, it could break the security protocols, steal funds, mess with transactions, and disrupt whole systems.

But don’t panic just yet. The tech world already has a potential answer to this quantum conundrum – zero-knowledge proofs or ZK. If you’re into blockchain, you’ll know that ZK-proofs can help make transactions faster and cheaper, while also enhancing privacy. The cool thing about some ZK-proofs is that they’re already impervious to quantum computing.

The consensus is that once quantum computers become mainstream, whoever owns them will essentially have the master key to every online code and password. It’s a bit of an exaggeration, but it gives you an idea of the worry.

The point is that things are changing, as they’ve done before. Cars used to be easy to steal by fiddling with a few wires. Nowadays, thanks to technology, they’re much harder to break into. You see, security systems are always evolving. For those of us into crypto, we’re already familiar with ZK tech and can use it to our advantage when quantum computers come into play.

What’s great about ZK tech is that, while other encryption methods are vulnerable to quantum computing, it isn’t. To draw a comparison, current passwords are like needles hidden in massive haystacks. Quantum computers act like a mega-magnet that can instantly find that needle. But search for a specific piece of hay in that same haystack, instead of a needle, and the magnet is useless. Quantum computers are that magnet and ZK tech is the hay.

The key takeaway here is that while we don’t yet have the perfect solution to handle quantum computing, we have a clear path forward with ZK tech. The advancements we’ve made can certainly be developed into practical solutions. This doesn’t just secure blockchain from being compromised by quantum computing, but it also proves, once again, that the field of cryptography has the power to keep the digital world secure.