This month, Google’s CEO announced on social media that the quantum chip Willow has made a key breakthrough, achieving an exponential reduction in error rates and solving a major problem that has plagued researchers in the field of quantum computing for more than 30 years.
The news immediately caused a stir among people from all walks of life. While the tech community is excited about this, some in the cryptocurrency sector have expressed concerns, especially some miner friends who worry whether the Willow chip has the capability to crack Bitcoin’s encryption algorithm. If so, wouldn’t cryptocurrencies become meaningless?
In response to many friends who care about this issue, SC MINER first throws out a conclusion – there is no need to worry about this.
Firstly, Google’s technological breakthrough is indeed commendable, but it is still very far from the practical stage. Winfried Hensinger, a professor of quantum computing at the University of Sussex, and Kevin Rose, a former senior product manager at Google, both believe that to solve truly important industrial problems, quantum computers need millions of qubits, while Willow only has a meager 105 qubits. Moreover, Google’s Willow is based on superconducting qubit technology, which has extremely strict cooling requirements. If it were millions of qubits, the temperature would have to reach absolute zero, making it almost impossible to build a quantum computer with superconducting qubit technology.
Secondly, while quantum computing is developing rapidly, quantum security cryptography is also advancing in tandem. When people anticipate that future quantum computing will be able to crack the current cryptography of cryptocurrencies, it is also theoretically anticipated that future cryptographic algorithms will be able to counteract the quantum computing of that time.
Emin Gün Sirer, the founder of Avalanche, believes that although the latest advancements in quantum computing are astonishing, they do not pose a threat to the security of cryptographic assets, at least not currently. In addition, depending on the platform, the window of opportunity for quantum computer attacks is very small.
In fact, Satoshi Nakamoto also anticipated such issues and proposed solutions, “I think that if SHA-256 is cracked, we can start again from a ‘honest blockchain’ that everyone can agree upon, lock it, and then continue from there with a new hash function.”
It can be seen that worries about whether Willow will destroy Bitcoin are just a false alarm. Currently, Bitcoin is accelerating its journey around the world, with more and more governments, traditional investment banks, and ordinary people paying increasing attention to Bitcoin. The market value of Bitcoin has exceeded 2 trillion US dollars, ranking 7th in the world. If you also firmly believe in BTC, we recommend to you these cost-effective models, namely the ANTMINER S21 series and the WHATSMINER M60/M50 series.
The ANTMINER S21 series is the absolute king of energy efficiency ratios among BTC ASICs, and this brand’s machines are comprehensively strong and trusted by miners. Taking the ANTMINER S21 XP 270T as an example, it currently mines about 0.000162 BTC per day, worth about $16.6. The WHATSMINER M60/M50, on the other hand, has the advantage of maintaining good working conditions under extreme weather, with the WHATSMINER M60S as a case in point. It has been proven that in the cold weather of North America or in the large diurnal temperature difference of the Middle East, this machine has a very low failure rate, which helps to reduce overall costs. Additionally, its hardware total cost is not high, and it currently mines about 0.0001116 BTC per day, with a payback period of about 480 days at an electricity price of 6 cents.
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Finally, SC MINER would like to remind everyone that all investments carry risks, so decisions should be made cautiously.
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