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LK-99: The end of Bitcoin? This shocking discovery could revolutionize crypto

Wed 16 Aug 2023 ▪ 7 min of reading ▪ by Luc Jose A.
Mining

While Bitcoin continues to demonstrate its resilience, the scientific community is making revelations that are highly agitating the quantum threat. Researchers in South Korea and China have reportedly discovered an extraordinary superconductor called LK-99, a material that could be used to create quantum laptops capable of breaking BTC private keys very easily. If confirmed, this discovery could open a new page in the history of cryptography and sound the death knell for the world’s most powerful cryptocurrency. Should this superconductor be considered a threat to cryptography? Answer.

Une pièce représentant le BTC avec la mention Bitcoin

LK-99, the superconductor that could bury Bitcoin

According to the scientific paper “The First Room-Temperature Ambient-Pressure Superconductor” published on July 22, 2023 by Asian researchers, the LK-99 superconductor could put the quantum threat back on the table.

Unlike other superconductors, this material can allow electricity to flow without resistance at room temperature and standard air pressure. It will offer perfect electrical conductivity, without the need to raise its temperature to zero. This makes LK-99 practical for everyday use, promising up to 20% more electrical power in applications.

While researchers continue to carry out tests to confirm the viability of LK-99, the extraordinary potential of such a superconductor should not be treated lightly.

The LK-99 is indeed capable of revolutionizing the world of technology, including quantum computing, transport, healthcare, metallurgy and more. But more importantly, we think there may be consequences for cryptography and Bitcoin with quantum computers?

The potential impact of LK-99 on cryptography

For the moment, researchers have not confirmed the superconductivity of LK-99. However, on both X (formerly Twitter) and Reddit, discussions on the subject are well underway. But if the information given in the initial scientific article is confirmed, LK-99 could make it possible to crack BTC private keys, with important implications for the future of cryptography.

Indeed, many believe that this new quantum revolution will enable the production and commercialization of a new range of quantum computers powered by this revolutionary superconductor.

As a result, we’re likely to see the marketing of ASIC machines incorporating innovative circuits capable of cracking BTC’s private keys in a matter of seconds. Anything that would eventually dig the grave of the parent cryptocurrency.

In fact, let’s take a look at what cryptography looks like. The length of BTC private keys is currently 256 bits. These keys are made up of 64 characters. To find a key, you therefore need to try 2256 or 1664 possible combinations. With such an advanced level of encryption, it normally takes several billion years for a conventional computer to break a BTC private key.

But quantum computers are nothing like today’s computers. These little monsters are several million times more powerful and faster than computers currently on the market.

In this sense, there is a real fear that confirmation of the enormous potential of the LK-99 superconductor could lead to a reduction in the superpower of cryptography and the security of BTC private keys. However, is it really possible that computers integrating specific circuits and powered by LK-99 could break cryptography?

LK-99 discovery raises questions about quantum threat to bitcoin

The advent of LK-99: what are the security risks for Bitcoin private keys?

While it’s true that LK-99 is triggering an exceptional revolution in the world of technology and electronics, its impact on cryptography may not be as great as some would have us believe.

As proof, if it takes billions of years for today’s machines to break a BTC private key, it will still take several million years for an ASIC machine powered by LK-99 to achieve the same feat.

However, since the crypto world has already been warned of the existence of a likely existential threat to Bitcoin, encryption standards will be adequately strengthened to preserve the inviolability of crypto private keys. For example, more robust encryption standards such as AES-512 could be implemented.

LK-99 Coin achieves more than 3 million trading volume in 24 hours

While the crypto community has yet to give in to the thought that the superconductor discovered by scientists could pose a threat to cryptography, token creators have been quick to capitalize on the buzz created around the LK-99 idea and concept.

Indeed, just after the news of LK-99’s discovery was published, a token was born and just as quickly made news on trading platforms.

This was the memecoin LK-99, which became a veritable phenomenon in the memecoin world, achieving a trading volume of over $3 million in just 24 hours of trading.

Of course, this hype will only last a moment. As is usually the case with memecoins, the pump and dump phenomenon will repeat itself a few days later, leaving behind just a handful of dust.

Just take a look at decentralized crypto exchanges such as Uniswap to see for yourself. The famous memecoin LK-99 appears to be worth virtually nothing and is no longer the subject of speculation.

That said, at this stage, scientists have yet to publish the final conclusions of their research into the superconductor. In any case, whether LK-99 is a reality or not, fears about its implications for the future of cryptography seem a little exaggerated.

And if there were even reason to have fears on the matter, it will be at least a decade before quantum computers become a reality. Until then, cryptography would certainly not be where it is today.

The short- and medium-term threat theory is therefore out of the question. However, the debate is still on. Even if the LK-99 ultimately proves to be unviable, we may have to prepare for the phenomenon of quantum computers.

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Luc Jose A. avatar
Luc Jose A.

Diplômé de Sciences Po Toulouse et titulaire d'une certification consultant blockchain délivrée par Alyra, j'ai rejoint l'aventure Cointribune en 2019. Convaincu du potentiel de la blockchain pour transformer de nombreux secteurs de l'économie, j'ai pris l'engagement de sensibiliser et d'informer le grand public sur cet écosystème en constante évolution. Mon objectif est de permettre à chacun de mieux comprendre la blockchain et de saisir les opportunités qu'elle offre. Je m'efforce chaque jour de fournir une analyse objective de l'actualité, de décrypter les tendances du marché, de relayer les dernières innovations technologiques et de mettre en perspective les enjeux économiques et sociétaux de cette révolution en marche.

DISCLAIMER

The views, thoughts, and opinions expressed in this article belong solely to the author, and should not be taken as investment advice. Do your own research before taking any investment decisions.