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Difference between Quantum Supremacy and Bitcoin
The long-term viability of Bitcoin is in jeopardy. The announcement by Google that it has built a quantum computer, which can quickly hack bitcoin and the encryption on which the internet relies, and which can do mathematical tasks that are mathematically impossible, was the impetus for this. However, recent research claims that quantum supremacy won't change Bitcoin in any way. However, what exactly sets Bitcoin apart from quantum supremacy? Let’s try and find that out in this difference-based article.
What is Quantum Supremacy?
The term, “Quantum Supremacy” is a reference to the fact that quantum computers, which are fueled by and function in line with the rules of quantum physics, may perform operations that classical computers cannot. Quantum computers employ qubits, also called quantum bits, in place of bits used by classical computers.
Building a quantum computer would be a mark of humankind's physical dominance over the universe's matter. Even if the concept of quantum supremacy might appear unbelievable today, if it fructifies, there is a risk that every piece of information kept in cyberspace can be compromised.
What is Bitcoin?
Bitcoin, a crypto currency established in January 2009, requires large amounts of processing power to verify transactions. This demand for raw processing power stems from the fact that there are no physical Bitcoins; all transactions take place digitally through the use of peer-to-peer technology. The blueprints and the code are freely distributed.
Since Bitcoin is decentralized and not owned by any central authority, anybody may use it. Bitcoins' many advantages include lower transaction costs and independence from central banking. None of the other methods of exchanging money can compare to these unique features. It is not, however, a valid means of payment in any jurisdiction.
Differences: Quantum Supremacy and Bitcoin
The following table highlights how Quantum Supremacy is different from Bitcoin −
| Characteristics | Quantum Supremacy | Bitcoin |
|---|---|---|
Definition |
The phrase "quantum supremacy" is used to describe a quantum computer's capacity to do calculations that classical computers cannot. Quantum computers are powered by and function in line with the rules of quantum physics. |
Bitcoins are digital currency that requires a lot of processing power to verify transactions. |
Ownership |
When it comes to quantum computing, Google is in a league of its own. |
Due to Bitcoin's decentralized nature, no single entity can legitimately claim control of the cryptocurrency. |
Control |
In the field of quantum computing, Google continues to have a near-absolute hegemony. |
Bitcoins operate independently of any central authority. |
Conclusion
The ability of a quantum computer (one that follows the rules of quantum physics) to complete operations that classical computers cannot is what is meant by the term "quantum supremacy." Google owns and operates this website.
Bitcoin, on the other hand, is the moniker given to digital currency whose transactions are verified using intensive computing processes. Bitcoins are a type of digital currency that operates independently from any central authority and are characterized by their use of open-source software and transparent protocols. It is not, however, a valid means of payment in any jurisdiction.
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