Quantum computers will be able to instantly break the encryption of sensitive data protected by today's strongest security, warns the head of IBM Research. This could happen in a little more than five years because of advances in quantum computer technologies. "Anyone that wants to make sure that their data is protected for longer than 10 years should move to alternate forms of encryption now," said Arvind Krishna, director of IBM Research... Quantum computers can solve some types of problems near-instantaneously compared with billions of years of processing using conventional computers... Advances in novel materials and in low-temperature physics have led to many breakthroughs in the quantum computing field in recent years, and large commercial quantum computer systems will soon be viable and available within five years... In addition to solving tough computing problems, quantum computers could save huge amounts of energy, as server farms proliferate and applications such as bitcoin grow in their compute needs. Each computation takes just a few watts, yet it could take several server farms to accomplish if it were run on conventional systems.
The original submission raises another possibility. "What I wonder is, if encryption can be 'instantly broken,' does this also mean that remaining crypto-coins can be instantly discovered?"
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