While speculations about the dangers of quantum computing for bitcoin are public, an initiative has put a date on the downfall of the cryptocurrency at the hands of this new tech.

The Quantum Doomsday Clock, a portal created by Richard Carback, founder of the quantum-resistant xx network, and Colton Dillion, co-founder of Gentlemen Labs, has assumed several variables to estimate when computers will reach quantum supremacy of crypto, breaking its current security model.

The clock currently indicates that this moment might be reached in 2028, estimating that this might happen just 2 years and 4 months from now.

To reach this forecast, the clock assumes that this “breakage” will happen when a quantum computer fulfills two conditions: “reaching logical qubit sizes required to implement the algorithms designed to break Elliptic Curve (ECC) and RSA cryptography,” doing it under a “realistic, observed error rate.”

Even so, the builders of the clock acknowledge that this breakage can occur faster if current quantum computing developments shift from reducing error rate to qubit growth, adding more computing power to these machines.

Analysts consider quantum computing one of the largest dangers to bitcoin and cryptocurrency, as it can upend the security that is inherent to the cryptography tech behind them.

Developers and organizations have warned about this and are currently working on solutions, like Bitcoin Improvement Proposal (BIP) 360, designed to shield bitcoin from a quantum apocalypse. Nonetheless, the quantum menace is currently not considered a priority, and these solutions might take some time to be implemented.

Whether quantum does break bitcoin in two years or not, the dangers of this insurgent tech over bitcoin and crypto should not be underestimated. The Quantum Doomsday Clock, like its nuclear counterpart, serves as a reminder of the looming danger over bitcoin and the need to prepare for such an event.

• What is the Quantum Doomsday Clock?
  The Quantum Doomsday Clock estimates when quantum computers might threaten Bitcoin’s security, currently predicting a critical point in 2028.

• What conditions must be met for quantum computers to jeopardize cryptocurrency?
  Quantum supremacy will be reached when computers attain sufficient logical qubit sizes to break Elliptic Curve and RSA cryptography under a realistic error rate.

• Why is quantum computing considered a danger to Bitcoin?
  Analysts warn that quantum computing could compromise the cryptographic security fundamental to Bitcoin and other cryptocurrencies.

• What measures are being taken to protect Bitcoin from potential quantum threats?
  Developers are working on solutions like Bitcoin Improvement Proposal (BIP) 360, but the urgency for these measures is not currently prioritized, potentially delaying implementation.

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