By Jeffrey A. Newman Esq.

The co-fiounder of Ethereum Vitalik Buterin says that quantum computing may have the capacity to break the crypto codes within five years. Digital currencies deploy cryptographic functions to encrypt all financial details in order to protect the integrity of the funds. Presently, computers use binary electrical signals to represent ones or zeros, quantum computers employ quantum bits (qubits), which are subatomic particles. Quantum computers employ quantum bits (qubits), which are subatomic particles. qubits can simultaneously represent combinations of both ones and zeros. The more qubits, the greater the potential for large-scale compute power for problem-solving.The effects of quantum computing on cryptocurrencies are that it can solve hard math problems much faster than normal computers. This could potentially affect the process of verifying transactions for cryptocurrencies, which relies on solving such problems.

The counter theory is that quantum computers will be able to create codes that are more difficult to break and cryptocurrency may adapt and change over time.

Jeffrey Newman Law is a whistleblower law firm representing whistleblowers reporting export tariff controls, tariff evasion and other kinds of WB cases. The firm website is  www.JeffNewmanLaw.com . Attorney Newman can be reached at Jeff@Jeffnewmanlaw.com or at 617.823.3217