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Bitcoin’s Doomsday Maker

Government intervention, poor usability, high network fees – which one of these poses the most significant threat to Bitcoin? The answer may be none of them.

Although the Bitcoin network is incredibly secure under the current condition of computers, there’s an even greater threat looming overhead. Quantum computers could render Bitcoin’s security systems obsolete and decimate the once-dominant cryptocurrency.

What is Quantum Computing?

Simply put, a quantum computer is a supercomputer held at near absolute zero temperatures (-459.67degF). The subatomic particles of the processor in the computer act in ways that aren’t possible under normal conditions at this temperature.

Contrary to popular belief, quantum computers aren’t necessarily faster than traditional ones. Unfortunately, quantum computers won’t speed up your Netflix stream.

But the quantum anomalies that occur at freezing temperatures do enable them to perform calculations that are theoretically impossible for ordinary computers to execute in an acceptable time frame. These calculations can be used to simulate molecules, protein folding, or logistics optimization.

But how does a quantum computer do this?

Quantum Computing infographic

Inside a Quantum Computer. Credit: IBM Research

Superpositioning and Entanglement

Quantum computers possess two properties that allow them to do complex calculations efficiently. The first is superpositioning.

Traditional computers store information as a series of 0’s and 1’s. Quantum computers, on the other hand, store their data using a set of qubits – superpositions of 0 and 1. Qubits can exist in two states simultaneously.

When you connect these qubits together in a system the number of states increases exponentially. One qubit can have two states, while two qubits can have four, four, eight, and so forth. The equation directly determines the number of states:

# of states = 2n where “n” is the number of qubits.

The second property of quantum computers is entanglement. Two qubits can be entangled together and the result is that the value of one qubit will also be measured. All superpositioned qubits in a quantum computer can be entangled to give you all possible states.

How Does Quantum Computing Affect Bitcoin?

Quantum computers excel at cryptographic calculations. This is a serious threat to Bitcoin and other cryptocurrency. We need to first understand how Bitcoin connects the public keys and private keys.

A Quick Bitcoin Refresher

Every Bitcoin wallet has both a private and public key. Your public key is your wallet address, which you use to receive funds. It’s generated from your private key. Your private key is the password you use to send funds.

To send money, especially bitcoins, you must sign every transaction with an elliptic curve signing scheme. This scheme proves to others that you own the private key without having to broadcast what it is. This scheme makes it easy to create a public key using a private one, while reverse engineering is almost impossible.

That may change soon, though, with quantum computers.

Quantum Calculations

A common misconception: One quantum computer could provide enough hashing power to perform a 51% attack on the Bitcoin network.

The reality: ASIC miners are, and will be for at least ten years, much more efficient at mining than quantum computers. There’s little to no risk of a quantum computer sabotaging the Bitcoin network through a 51% attack. Quantum computers’ ability to degrade the network’s private keys is the real threat.

The inefficiencies of modern computers keep private keys that elliptic-curve signatures generate relatively secure. It would be a waste of time and resources to try brute force to guess private keys.

A traditional computer would need to perform 2^128 or 340,282,366,920,938,463,463,374,607,431,768,211,456 basic operations to derive a Bitcoin private key from a public address.

However, using Shor’s algorithm, a significantly large quantum computer needs just 128^3 or 2,097,152 operations to figure out a private key. This is a significant reduction in the number of key relationships, which makes it possible to figure out a private key.

How Screwed is Bitcoin?

The good news: Bitcoin should be fine. It is still years away that quantum computers are capable of calculating Bitcoin’s key relationships. Solutions aren’t always as simple as they seem.

One-time Addresses

The simplest but not practical solution is to use each Bitcoin address only once. Your public address will only be visible from the moment you initiate a transaction until it enters a block. However, people rarely change their addresses with every transaction.

Signature Algorithm Change

The recommended solution is to change Bitcoin’s public key algorithm from elliptic curve signatures to an algorithm that’s quantum resistant.

Lamport signatures are a common suggestion for the replacement. These signatures are much larger than their elliptic curve counterparts, though (about 169 times larger). This size difference hinders scalability, even with the implementation of the Lightning Network.

Additionally, Lamport signature keys still have a limited amount of use before you’d need to create a new key pair. You may only need to use one of these keys.

With any modification to the public key algorithm you would also have to soft fork Bitcoin. All users should then transfer their funds to this new address type. Any funds that are left behind could be stolen.

New Cryptocurrency

Some teams have quantum resistance in mind when they build their cryptocurrency.

IOTA, for example, uses one-time Winternitz signatures to create key pairs. This strategy makes addresses inaccessible almost immediately after funds are sent. It leaves your address vulnerable to quantum attack for only a few seconds.

The Nexus team advertises their 3D-blockchain as the “first truly quantum-resistant blockchain.” It updates and obscures your keys after every transaction with a scheme the team calls “signature chains.”

Another project, Hcash applies BLISS signatures to prevent quantum computing.

The Future of Quantum Computing & Resistance

These projects are not the only ones fighting against quantum computing. Although you may not hear much about quantum resistance as it relates to other projects, they are still working on it. Ethereum, for one, has proposals that would enable different types of signature algorithms for each user.

With high-powered quantum computers still many years away, most projects will have ample time to strengthen their defenses. You can rest assured that Bitcoin will be around for the long haul.

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Algotech (ALGT) raises over $500k in a single day during ongoing presale

San Fransico, California, April 9th, 2024, Chainwire Algotech (ALGT) has emerged in the limelight again with the milestone of raising $500,000 in a single day during its ongoing presale. In less than four weeks of the current presale, Algotech has raised over $3.5 million. Algotech’s Journey Algotech was launched as an initiative by successful traders…

San Fransico, California, April 9th, 2024, Chainwire

Algotech (ALGT) has emerged in the limelight again with the milestone of raising $500,000 in a single day during its ongoing presale. In less than four weeks of the current presale, Algotech has raised over $3.5 million.

Algotech’s Journey

Algotech was launched as an initiative by successful traders and technology experts who wanted to democratize access to advanced trading tools for layman users. The team wanted to provide beginning traders with the same high-tech tools that are used by hedge funds and large-scale investment firms. Combining this with the effectiveness of blockchain technology, Algotech has set its sights on becoming the leading platform by bridging together AI and blockchain technology in the trading segment.

Bringing Together AI and Finance

Millions of new users are embracing blockchain technology for its groundbreaking potential. However they still have to rely on traditional exchanges that design the ecosystem to favor institutional investors. Algotech is rectifying this challenge by introducing the first artificial intelligence (AI) based exchange that will allow users to have advantages in trading. The platform makes it simple for users to invest in cryptocurrencies and receive automated investment guidance.

Algotech’s Key Features

What makes Algotech a standout leader in the segment is the core features that have been introduced for traders. Imagine a trading landscape where regular traders have access to the same tools and resources as hedge funds and large-scale institutional investors. These tools conventionally have massive fees and are only available to a limited number of institutes. This is precisely the challenge that Algotech is working on addressing.

Here are the core features that are making Algotech is working on:

Breakout Detection

The breakout detection feature relies on advanced algorithms that factor in over 1000 unique data points to identify breakout opportunities. These algorithms have been trained on H100 GPUs to ensure that traders can get accurate investment calls for high-precision calls.


Algotech allows traders to minimize investment risk by monitoring funding levels, liquidity, and spread. These factors generate warnings and allow users to implement advanced risk management including automated stop-losses.

High-Volume Arbitrage

This feature allows users to take advantage of the difference in pricing between different platforms using Algotech’s technical APIs. With high positioning sizing, users can handle trades with ease.

The Growing AI Blockchain Segment

The growth of the AI sector has been exceptional. In the past few years, the sector has grown multifold, and today, it has a market cap of over $25 billion, according to CoinGecko. In the coming few years, this number is expected to explode further as millions of new users are now looking for AI-based features in their day-to-day applications. One of the biggest sectors under the spotlight is the trading sector. The global cryptocurrency exchange segment is currently valued at over $45 Billion and is expected to reach $110 Billion in 2028. Additionally, beyond just cryptos alone, AI blockchain technology is also expected to serve as the backbone of the global trading ecosystem. This is where Algotech expects to bridge the gap by introducing AI-based trading features. These features will allow beginner traders to have an even playing ground against leading institutional investors and seamlessly invest using AI as their guide.

About Algotech

As Algotech continues its journey to transform Decentralized Finance (DeFi) with its innovative products, it is exciting to see the community support for this mission. The platform is democratizing access to trading tools for individuals across the world by providing AI features. Additionally, Algotech is making investing inclusive for the broader community by making it simple for users to become an early part of the community by providing governance rights and profit shares. As the project moves through its phases, we can only look toward the achievements that are on the horizon for Algotech, a true AI-blockchain project.

Visit the links below for more information about Algotech (ALGT): 

Algotech is the source of this content. This Press Release is for informational purposes only. The information does not constitute investment advice or an offer to invest. Investing in cryptocurrencies is volatile and risky.



Algotech Solutions

[email protected]

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IOTA price nears a key support: Can bulls bounce on key news?

IOTA price is down 4% in the past 24 hours and trades near $0.30. The IOTA team announced a key partnership in Singapore,but is the price set to bounce or dip futher? IOTA’s price has declined 5% in the past 24 hours to trade near a key support level. The slip now has weekly gains…

  • IOTA price is down 4% in the past 24 hours and trades near $0.30.
  • The IOTA team announced a key partnership in Singapore,but is the price set to bounce or dip futher?

IOTA’s price has declined 5% in the past 24 hours to trade near a key support level. The slip now has weekly gains cut to just 2% while the altcoin has turned red on the monthly time frame.

The IOTA token trades at $0.31, down from recent highs of $0.41. This cryptocurrency is also one of the worst performing since the 2017 bull market. Per data from CoinGecko, IOTA is down more than 94% since its all-time high above $5.25 reached over six years ago.

On Tuesday, IOTA announced a major partnership with Tenity as it looks to tap into the growth potential in the Real-World Assets (RWAs) and DeFi sectors. The APAC Accelerator is a 12-week program that will see select startups receive $50k in grants.

📣 Big news from Singapore! We’ve teamed up with @tenity_global to launch the #IOTA APAC Accelerator, a 12-week program to empower the next generation of DeFi pioneers.💪

Find out how you can apply & receive a $50,000 grant 👇

— IOTA (@iota) April 9, 2024

Despite this and other recent key developments, price remains largely devoid of any strong momentum.

IOTA price – bounce or dip?

Bitcoin’s run to the new all-time high above $73k in March catalysed strong gains for most altcoins. Ethereum for instance reached a multi-year peak above $4,000 while Solana, BNB and even Dogecoin soared.

IOTA did manage to break above $0.30 during the broader market spike in March. However, it remained well below its 2021 highs above $2 and as a result has dropped out of the top 100 by market cap.

Can IOTA’s price recover to the last bull market highs and potentially eye a retest of its ATH?

IOTA price chart

IOTA/USD on the weekly chart is below the 50-week EMA and the RSI is trending lower below 50.

A symmetrical triangle pattern is also formed on the daily chart, with price capped by a downtrend line since mid-March.

If price breaks out from the upper trend line, IOTA could retest levels at $0.35 and potentially $0.41 to allow for a bullish breakout in line with the broader market.

On the flipside, a breakdown for IOTA from the lower trend line would indicate a bearish trend. In this case, a drop to $0.20 is possible, below which bears could target October 2023 lows of $0.13.

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Analyst: Solana to Reclaim $200, Many New Crypto ATHs Soon

In his latest social media posts, Daniel Cheung, co-founder of Syncracy Capital, expressed confidence in the strength of solana (SOL) and its potential to reclaim the $200 mark. He also hinted that upcoming upgrades could pave the way for new all-time highs (ATHs). Cheung also shared his bullish outlook on bitcoin (BTC…
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