How do you think AI and quantum computing may affect digital ledgers?

I mean I know this is quite technical but AI is becoming really impressive, I saw a program the other day that will create Art just by typing what you want it was incredible , link below. I also know that quantum computing is on the horizon and some have concerns about how this will affect ledgers. Would love some thoughts :).

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What concerns do you have? My only worry is that quantum computing may/will break encryption, that would be dangerous to pretty much everything and everyone, especially cryptocurrencies.

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This is a thing that I have been hearing for years, but don’t exactly know where quantum computers stand nowadays. I also believe that once they break these encryptions, other industries will suffer too (traditional finance, websites), not just cryptocurrencies.

What I have also found, that there are now certain algorithms which say to be safe against quantum computers. (source)

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Yes thats it exactly, apparently Dan is aware of this, but is this a possibility ? Also could ai become so strong and advanced that its able to make ledger technology void ? I mean I know this is a hard question, but we saying it technical possible for quantum computing to break the encryption, if so we should all be very concerned right ?

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IMO Dan already answered that the people have the right quantum computing power would not attack the “whole network” because:

  1. The community would know and abandon the project right away, you cannot make much money by this.
  2. Attacking “a wallet”, “a seed phase data”, “a key”, “a password” would be easier, and as long as people don’t use physical ledger, there are attacking target.

By the time many wallet on the network got hacked, they would found the problem and forked into more secure ledger already.

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As far as I know the development of AI is technically very significant but I think we have to be careful because for some reason we are missing something we have to do ourselves, and I mean an art will be meaningless if everything is done. by computer.
Understanding the development of quantum computing is so great, I think we will be worried about losing its original role.

And another concern is that AI can break or break the encryption that makes us lose data, lose access to things. and the lack of convenience because our personal data is leaked without us knowing it. If it has progressed to that point maybe nothing will be safe and all digital data is at risk.

But at the moment there are quite a number of cases of wallets on the network being hacked. And finally I can only read the news without being able to prevent something like that from happening :slight_smile:

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What do you mean wallets being hacked can you send a link please

Uh yes DallE2 :heart_eyes:
This Ai is so fucking impressive, would love to play with it

If you wanna dig into ai a bit there is quite a good docu about Alpha go the ai which beat the go champion last year: AlphaGo - The Movie | Full award-winning documentary - YouTube
Some crazy scenes in there (when the devs suddenly are not sure what is going on with the ai…goosebumps)

Also I found this video a couple of months back about quantum computing threat on the exemple of bitcoin: Bitcoin Q&A: Is Quantum Computing a Threat? - YouTube
For me it was very helpfull to understand this big potential thread a bit further

I think especially the idea of if quantum computing exist in a good enough level to break crypto encryption the owner most probably a government would disclose it’s existence to safe this power full tool for a real bad thing.

So something like this would be more likely, a smaller coordinated attack against a specific addresse

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I mean it can break it but also quantum computing might be useful to make it resistent against quantum computing

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True! Use poison to treat poison :grin:

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Thw question is just for what will it be used first breaking crypto or making it more resilient

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country’s army would be the first organizations to ever got the hand in quantum tech, and they have served centralized govt for years, you could guess the rest.

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The great majority of articles that I read all reached to the conclusion that quantum computing luckily does not pose a threat right now, yet their potential ability to attack and create digital signatures could be a great danger for the crypto world.

In my opinion, the two main questions to take into account when start debating such topic are:

1. In what time frame (5 years? 10? 25?) we will have the possibility of using quantum computing?

2. In this time frame, how easy is it to adjust a blockchain to this potential danger? How can it be done? Perhaps by integrating some sort of quantum safe encryption (?)

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I am guessing the rest won’t end good for crypto :wink:

Yet I am really believing that this technology won’t be used and will kept hidden for some bigger thread and this will give institutions which are pro decentralization a head start to maybe develop their own quantum computers

The time frame indeed is an important factor. I personally could see it still takes between 5-10 years

But also maybe it is already there or is way quicker achieved than we can think

“threat” actually, and yes, they will ofc wan’t to kept this hidden until … maybe other country also developed quantum computer and targeting them?

Ups Threat of course. Hope they won’t use quantum computing cause a thread got posted

Gonna be exciting times

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