Cryptocurrencies: Will hackers soon be rich? [German]

Author: Uwe Kerkow | Source: Telepolis | Read the full article in German

The world of cryptocurrency is facing a potential new challenge from the emerging field of quantum computing. BlackRock, the world's largest asset manager, recently highlighted a fascinating technological concern: quantum computers might one day be powerful enough to break the complex encryption that currently protects cryptocurrencies like Bitcoin.

Right now, quantum computers aren't advanced enough to pose an immediate threat. Tech giants in the United States and China are developing these sophisticated machines, but they haven't reached the level of complexity needed to crack cryptocurrency algorithms. The good news is that the cryptocurrency community is aware of this potential risk and can adapt their encryption methods to become "quantum-safe" if the threat becomes more real.

For everyday cryptocurrency investors, there's no need to panic. While the potential exists for quantum computers to eventually undermine the security of digital currencies, experts believe this is still far in the future. The technology is still in its early stages, and it remains uncertain when or if quantum computers will achieve the dramatic processing capabilities currently being imagined. Investors are advised to stay informed, potentially diversify their crypto portfolios, and keep an eye on technological developments.

[Read More (translated)]