What are Quantum computers and why should you care?
About the event
What quantum computers are, why they break the maths behind Bitcoin, and what is being done about it.
Quantum computers are becoming useful devices rather than just research tools. Beyond modeling the real world, they can speed up cryptographic calculations. Most notably, reversing the encryption used by Bitcoin, bank transfers, and much of the web. Governments and banks already have a published plan for moving to quantum-safe cryptography. Bitcoin, many chains, and most exchanges have not yet published plans. The urgency has increased now that big public quantum companies are giving a roadmap for a break; IonQ is saying late 2028. Two problems need solving: migration to post-quantum addresses and the coins-left-behind problem. How will we handle Satoshi's original coins?
This session explains what a quantum computer is and how it is different from the computers we use today. It shows, in everyday terms, why a large enough quantum computer could break the secret key that protects a Bitcoin, something no ordinary computer could do in any realistic amount of time. It then gives a fair overview of the ideas the Bitcoin community is considering, along with a quick survey of other chains, followed by open discussion.
No background in physics, cryptography, or programming is needed. You will leave understanding the problem well enough to explain it to someone else, knowing what options are on the table, and knowing what, if anything, you should do today.
Speaker: James Tagg, inventor with over 200 patents, founder of Truphone, and co-founder of the Penrose Institute.
Streaming link: https://www.youtube.com/c/Edgewallet/streams
Hosted by Edge.app & QSAVE, where James and his team are building post-quantum key protection for Bitcoin and other chains.