As Bitcoin is trading at one of its highest price points in history, Kim Jong Un and North Korea claim their new quantum computer — which had manage to keep under secrecy for years– is able to hack the blockchain technology and eventually break bitcoin safety.
“Blockchain is as strong as its weakest link. Today we achieved something that was unimaginable before, thanks to the power of our great nation and leader we hacked this technology that everybody thought was impossible to compromise,” read an official press release published in DPRK official Naenara website.
Bitcoin is the first decentralized cryptocurrency. Nodes in the peer-to-peer bitcoin network verify transactions through cryptography and record them in a public distributed ledger, called a blockchain, without central oversight.
A blockchain is a distributed ledger with growing lists of records (blocks) that are securely linked together via cryptographic hashes. Each block contains a cryptographic hash of the previous block, a timestamp, and transaction data (generally represented as a Merkle tree, where data nodes are represented by leaves). Since each block contains information about the previous block, they effectively form a chain (compare linked list data structure), with each additional block linking to the ones before it. Consequently, blockchain transactions are irreversible in that, once they are recorded, the data in any given block cannot be altered retroactively without altering all subsequent blocks.
How North Korea and Kim Jong Un Broke Bitcoin and Blockchain
The digital mission called ‘Kim No Coin’ was the brainchild of the nephew of North Korea’s leader, 9 year-old Kim Yong Su and it is not the first time the North Koreans caused chaos in the bitcoin community. The little hacker who inherited his intelligence from his uncle is a computer prodigy who has been writing code since he was in his crib. Interestingly, the 9-year-old Bitcoin destroyer was taught all about blockchain by Satoshi Nakamoto himself, the famous creator of Bitcoin. It is an example of how the student surpassed the teacher!
Blockchain guru George Sensei confirms that indeed the only way the security blockchain could brake is by using a quantum computer, although the technology had not been available until today.
In any case, and because today is April 1st, we want to wish you Happy April. Although the above is an April Fool’s story, remember that in reality nothing is unbreakable forever!
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