The first-ever complete Quantum chip architecture revealed...

In an industry first, "Researchers at the University of New South Wales revealed an architectural structure that solves some of the stability issues that are facing quantum computing scientists"(from cointelegraph.com).

Quantum computing enables an enormous increase in computing power. This is potentially a big problem for the Bitcoin blockchain. A quantum computer could perform a massively more powerful number-crunching process that could easily crack the codes that protect the private keys of the entire Bitcoin blockchain.

Could this happen? Absolutely.

Quantum computers would go through the SHA-256 cryptographic encryption system of Bitcoin like a hot knife through butter.

That is, assuming nobody works on developing the security of Bitcoin and leaves it in its current state.

And that's a pretty big assumption. Bitcoin is in a constant state of development. It will continue to be developed and will have to be updated, as it has been many times before. Expect Bitcoin development to remain at the forefront of technology and, if anything, usher in new developments that take advantage of quantum computing.

For a detailed explanation of how quantum computing works, have a look at this website.

sources:
https://cointelegraph.com
https://uwaterloo.ca/institute-for-quantum-computing/quantum-computing-101
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