New IBM Q System One Quantum Computer Won’t Harm or Damage Bitcoin in the Future
IBM has recently launched the Q System one, a quantum computer for commercial use. The company presented it at the Consumer Electronics Show (CES) a few days ago. Some enthusiasts and analysts are currently wondering whether this super-computer is able to change Bitcoin’s future.
Adam Back 1, Quantum Computer 0. https://t.co/8yd2zWAOF6
— Samson Mow (@Excellion) January 13, 2019
The feat that the crypto community has is related to quantum computers being able to undermine the security of blockchain technology and the way in which virtual currencies work. According to IBM, the new Q System One has been specifically designed for commercial use.
Although it is possible to purchase this device, the computer will be accessible via the cloud due to the fact that it is very delicate and difficult o operate. The new computer has 20-qubit chips but experts suggest that 50-qubit chips are going to have a greater positive effect on companies.
Although it is very positive to have quantum computers being deployed around the world, making ‘low-noise’ qubits is more important than how to put them in a nice package said Andrew Childs, the co-director of the Joint Center for Quantum Information and Computer Science at the University of Maryland.
About it, he commented:
“It’s more like a stepping stone than a practical quantum computer. Don’t think of this as a quantum computer that can solve all of the problems quantum computing is known for. Think of it as a prototype machine that allows you to test and further develop some of the programmings that might be useful in the future.”
Thus, it seems that this quantum machine is not expected to be revolutionizing the crypto space and destroying Bitcoin.
Nevertheless, according to Divesh Aggarwal, from the National University of Singapore, Proof of Work is relatively resistant to substantial speedup by quantum computers in the coming 10 years. This is due to the fact that ASIC miners are extremely fast compared to the estimated clock speed of near-term quantum computers.