I am optimistic and a big believer in quantum computing as a potentially disruptive technology, says Shankar Das Sharma but note that quantum computers are nowhere near cracking cryptography. Condensed matter theory is argued by physicist and quantum information expert Shankar Das Sharma. MIT Technology Review that Quantum computers are far from cracking RSA-based cryptography.
RSA-Cryptography uses algorithms, codes and keys to securely encrypt personal data without the intervention of malicious actors such as third parties or hackers. An example of a method in crypto is the creation of a new wallet that creates a public address and a private key.
Quantum security is seen as a major problem in the blockchain and crypto sector, and it is widely believed that powerful Quantum computers will one day be advanced enough to hack current cryptography. This could lead to the theft of billions of dollars worth of digital assets, or blockchain technology. There are numerous projects dedicated to creating quantum proof cryptography and blockchain.