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    The most potentially profitable investment method in 2025 is through PairMiner crypto cloud mining, earning passive income daily.

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    floor down up to 18% in the last week (week ended August 26, 2023), volumes still robust

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    Blue chip NFTs sink double digits as ETH retreats from record highs

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    IOT in E-Commerce Market Is Going to Boom | Major Giants Amazon,Alibaba,eBay

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    Enhancing Security in Online Gambling with Blockchain Technology

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    Blushush by Sahil Gandhi and Ohh My Brand by Bhavik Sarkhedi Partner to Revolutionize Brand Strategy and Personal Branding

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    How to Play Treeverse: Beginner’s Guide to Gameplay, NFTs, and Tokenomics

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    Intellivix Targets Global AI Surveillance Market with ‘False Alarm Elimination’ Gen AMS

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    The Future of Gambling: How Casino Sites Are Leveraging Web3

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    The most potentially profitable investment method in 2025 is through PairMiner crypto cloud mining, earning passive income daily.

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    GameFi Q1 2025 Report: User Growth, Chain Activity, and Revenue Trends

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    Brain-Computer Interface Market Value, Trends, and Demand Insights | Scope By 2032

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    Shib: The Metaverse – Part of the Expanding Shiba Inu Ecosystem

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    Experience to Earn: Everdome’s Metaverse Frontier

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    Beyond Bots: Meta Motivo and the Dawn of Humanlike Digital Life

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    Exploring NetVRk: What Is Behind This AI-Driven Virtual Universe?

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    Council of Europe Highlights Metaverse’s Impact on Privacy and Democracy

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    Base claims top 3 spot in 30-day NFT volume: DappRadar

    floor down up to 18% in the last week (week ended August 26, 2023), volumes still robust

    floor down up to 18% in the last week (week ended August 26, 2023), volumes still robust

    Blue chip NFTs sink double digits as ETH retreats from record highs

    Blue chip NFTs sink double digits as ETH retreats from record highs

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    What’s Behind the Double-Digit Declines?

    Telegram NFT Gifts Hit $57M in Sales as Users Rush In

    Telegram NFT Gifts Hit $57M in Sales as Users Rush In

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    NFT sales drop 25% to $134m, CryptoPunks plunge 59%

    Ethereum Rules With $56.57M Sales, Solana and Polygon Compete

    Ethereum Rules With $56.57M Sales, Solana and Polygon Compete

    Defunct NFT lender Parallel Finance charges users $500 to withdraw assets

    Defunct NFT lender Parallel Finance charges users $500 to withdraw assets

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    GaFin Joins Cyber Crash to Advance Web3 Gaming

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    Avalanche Selects Funtico to Support Indie Game Developers

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    Google Boosts Gemini AI Image Capabilities in Latest Salvo Against ChatGPT

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    How Toyota Plans to Transform Vehicle Data and Ownership with Blockchain

  • Blockchain
    Capturing the Growth of Asset-Backed Finance via Blockchain-Enabled Opportunities

    Capturing the Growth of Asset-Backed Finance via Blockchain-Enabled Opportunities

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    MetaMask Users Can Now Link Binance and OKX Accounts to Their Portfolio Dashboard

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    NetMindAI Partners with Neurochain AI to Revolutionize Decentralized AI Services

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  • AI
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    Bitcoin Miner Bit Digital Diversifies Into AI for ‘Substantially Higher Margin’ Than Mining

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  • Guides
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    What Is Impermanent Loss? How It Works, and How to Avoid It

    What Is an Algorithmic Stablecoin? How It Works and Why It Matters

    What Is an Algorithmic Stablecoin? How It Works and Why It Matters

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    What Is Volatility in Crypto? Why It Happens and How to Stay Safe

    What is Cloud Mining? A Beginner’s Guide

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    What Are Bitcoin Runes and RunesDEX? – Cryptocurrency News & Trading Tips – Crypto Blog by Changelly

    What Are Bitcoin Runes and RunesDEX? – Cryptocurrency News & Trading Tips – Crypto Blog by Changelly

    6 Under-$1 Utility Tokens with Real-World Use to Watch in the 2025 Bull Run

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    What is Crypto FOMO? How to Avoid Emotional Investing Mistakes

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  • Analysis
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    The #1 CopyTrading Exchange-Bitget Turns 5, $100 Bonus for Newcomers

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Home Mining

Bitcoin mining approaches quantum computing revolution

August 24, 2024
in Mining
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Bitcoin mining approaches quantum computing revolution
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Bitcoin mining could face its biggest shake-up yet, thanks to the rise of quantum computing. Picture this: A future where quantum computers can solve problems at speeds that make today’s machines look like typewriters next to a modern-day supercomputer.

READ ALSO

Trump-backed Bitcoin mining firm to go public on Nasdaq next month

Hut 8 Secures $330M Credit From Two Prime, Coinbase to Back 1.5 GW US Expansion

Exciting, right? But hold on. Right now, quantum tech isn’t ready to take over Bitcoin mining—not even close. These computers are still like babies learning to walk, and we’re years away from them running at full speed.

Current quantum computing capabilities

Let’s get the facts straight. Current quantum computers have around 100 qubits. In comparison, classical Bitcoin miners use hardware that far outstrips this. To pose any serious threat to Bitcoin’s mining process, a quantum computer would need millions of qubits.

Even if we take the best-case scenario, where companies like IBM and Google ramp up their efforts, it’s still going to be a while. So, for now, traditional miners can breathe easy.

Theoretical estimates suggest you’d need a quantum computer with around 10,000 qubits to pose a serious threat to Bitcoin’s security. As of now, we are far from that mark.

According to the Cybersecurity and Infrastructure Security Agency (CISA), a quantum computer with that kind of power would indeed be a game-changer. But no such tech is available today, and it probably won’t be for another 6 to 10 years.

That’s not just wishful thinking—that’s the consensus among experts in the field. And until that happens, Bitcoin mining isn’t shaking in its boots.

See also  Bitcoin Stolen From 'Call of Duty' Cheaters, 'Notcoin' Airdrop Nears

Quantum threats to Bitcoin

The big scare with quantum computers is their potential to break the cryptography that secures Bitcoin transactions. Bitcoin relies on SHA-256, a cryptographic algorithm that’s pretty solid—at least against classical computers.

But quantum computers? They might have a way in. Using Grover’s algorithm, a quantum computer could potentially halve the time required to break this encryption.

But even with Grover’s algorithm, it would still take an astronomical number of operations—think $$2^{128}$$ operations—to break Bitcoin’s security.

Right now, about 25% of Bitcoins are considered vulnerable to quantum attacks due to how they’re stored. That sounds bad, but it’s not the apocalypse. Miners and developers have time—lots of it, really—to adapt.

The tech will get better, but so will Bitcoin’s defenses.

Tags: ApproachesBitcoinComputingMiningQuantumrevolution

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