Can Bitcoin Benefit From New 'Impossible to Crack' Encryption Chips?

A team of researchers claims that the prototype silicon chip that they developed enables encryption that is impossible to break.

The paper explains that conventional encryption standards - that cryptocurrencies rely on - could soon become obsolete due to developments in quantum computing.

It is widely believed that quantum computers would be able to break traditional encryption algorithms in a short period of time.

This is seen by many as a major threat to cryptocurrencies.

OTPs are famous because they cannot be cracked, but require sharing one-time use keys the same size or longer than the data being sent before it is sent.

Despite the system's security, OTPs are not adopted because of the absence of a practical and safe way to exchange the keys.

"Develop a physical realization of the OTP that is compatible with the existing optical communication infrastructure and offers unconditional security in the key distribution."

The chips use traditional physics and the classical laws of physics, including chaos theory and the second law of thermodynamics.

The keys that are used to decrypt the data are never stored or communicated with the message.

As Cointelegraph reported in October, author of "Mastering Bitcoin" Andreas Antonopoulos said that recent advances in quantum computing on Google's part are not an immediate concern for the Bitcoin community.