[Lex Computer & Tech Group/LCTG] Sounds Like a Plan

[Robert Primak]

 Yes, this would be true.
I think we have a few years for folks to devise encryption schemes which quantum computers would have a much harder time cracking. Today's best encryption schemes (including Blockchain) use large prime numbers in their calculations.But there are other problems which computers have and will continue to have much more difficulty solving. Some of which may be resistant to brute force attempts. So being able to execute a brute force attack orders of magnitude faster may not avail quantum computers in solving some other kinds of problems. 
As for absconding with a bunch of crypto loot, there are already ways to infiltrate and subvert many blockchains. It would be overkill to sic a quantum computer on some of these blockchains. Any Proof of Stake blockchain is vulnerable to the 51% Rule, wherein, if anyone or any group obtains 51% stake n such a blockchain, they can validate pretty much any transactions they want, including fraudulent and duplicate transactions. The new Ethereum blockchain will be vulnerable to this problem, but they are trying to devise safeguards to prevent a 51% stake from ever developing. Good luck with that. 
Then there's the social media conspiracy avenue, wherein a site or app like Robin Hood convinces a large number of people to buy then dump a targeted financial instrument (typically a stock with relatively few outstanding shares) thus manipulating the price of the stock until it crashes. The actions of Robin Hood have been very successful in a few cases, and some crypto and NFT assets are vulnerable to similar manipulation. (I'm sure if I got the Robin Hood strategy wrong someone will step up to correct me.) 
In any event, there is always an arms race in computer security. The problems presented by the security schemes are always in a race with the ever advancing power of computers to crack these schemes. It's been ongoing since computers were invented, and it will continue for the foreseeable future. Quantum computing so far looks like it won't introduce anything earth shattering. But it will make it necessary to invent new cryptographic schemes. 
-- Bob Primak 



    On Saturday, June 4, 2022, 01:44:10 PM EDT, Jerome Slate <slatemd at comcast.net> wrote:  
 
  Sooo,  yer sayin' if we borrow one of them quantum computer things for a coupla daze, we cud get all the block chain passwords, steal alla the tokens, and take off....
 Costa Rica does not have an extradition treaty with the US government.
 Hola, Puero Viejo !
 
 Jerry Slate
 
 
 On 6/2/2022 10:03 AM, Steve Isenberg wrote:
  
 
 So this means that the security we've been feeling using complex passwords may end soon. 
  According to the article, quantum computers solve a 9,000 year problem in 36 microseconds.  Amazing. So it could conceivably solve a 9,000,000 year problem in 36 milliseconds (36,000 microseconds) or a 250,000,000 year problem in a second. 
  From (https://vpnalert.com/resources/how-long-does-it-take-to-crack-a-password/) it would take up to 46,000,000 years to crack a 15 character password using numbers, upper and lower case letters using a conventional computer; with a quantum computer this would be about 1/5 second. 
  From (https://www.komando.com/security-privacy/check-your-password-strength/783192/) if you use a 18 character password with numbers, upper & lower case letters, and symbols it would take a conventional computer up to 7,000,000,000,000 (7qd) years; a quantum computer would take up to 28,000 seconds, under 8 hours. 
 Regards, -steve
  
   
  On Thu, Jun 2, 2022 at 9:08 AM <palbin24 at yahoo.com> wrote:
  
  Interesting overview of the current state of quantum computing  
  https://www.theregister.com/2022/06/02/quantum_advantage_canada/
 
 Peter  ===============================================
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