Is the Quantum Computing Threat to Bitcoin Overblown? These New Developments Suggest That's the Case.
Quantum computers could eventually crack Bitcoin, but Bitcoin can counter that threat.
Overview
Bitcoin (CRYPTO: BTC) became the world's largest cryptocurrency because its supply was capped, its mining rewards were halved every four years, and it established a first-mover advantage among retail and institutional investors. But over the past two years, more analysts have claimed that quantum computers could eventually crack Bitcoin's cryptographic keys.
Bitcoin is stored in two parts: a public key, which can be shared with anyone, and a private key, which allows you to access your funds. It's easy for computers to calculate your public key based on your private key, but it would take a supercomputer trillions of years to guess a private key based on a user's public key. That's what makes Bitcoin secure.
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Originally published at www.fool.com.