IBM has recently announced that it has opened up its 5-qubit quantum computer to the general public. Has quantum computing finally arrived and what impact will it have on Bitcoin? Quantum computers Quantum computers represent a new paradigm in computing. While traditional digital computers store data in binary bits (zero or one), quantum computers store data in the form of qubits (where 2 data states can be superimposed.). This enables large scale quantum computers to solve certain mathematical problems in a much more efficient way compared to traditional computers. Asymmetric cryptography - the key to Bitcoin The Bitcoin protocol uses …