An asteroid could hit Earth in 2023.

Ukrainian scientists reported that there is a chance an asteroid could collide with Earth in 2032. The resulting explosion would be 50 times greater than the most powerful nuclear bomb.

Ukrainian astronomers say the asteroid is a 1,345-foot rock that will either pass closely by the Earth of collide with the planet on August 26, 2032.

Scientists at the Crimean Astrophysical Observatory in southern Ukraine discovered the asteroid last week.  The asteroid is passing through the Camelopardalis, also known as the Giraffe, constellation.

Astronomer Gennady Borisov said "I was watching the Giraffe constellation, monitoring it as part of our comet search program. The first observations show that it moves quickly and is relatively close."

The asteroid was confirmed by astronomers in Italy, Spain, the United Kingdom and Russia. The asteroid was added to the Minor Planet Center's list of potentially hazardous asteroids.

If the asteroid hits Earth the explosion would be the equivalent of 2,500 megatons of TNT. That is 50 times greater than the most powerful nuclear bomb ever used.

Astronomers estimate the chance of a direct hit at one in 63,000. Which makes the treat minor. The scientists belive the asteroid will miss Earth by about 1.7 million kilometers.

Russian Deputy Prime Minister Dmitry Rogozin still announced on Twitter that the asteroid would pose a "great challenge for our national space industry." Rogozin has been promoting the the development of an anti-asteroid defense systems. Former Prime Minister Lembit Opik formed a similar system in England.

Don Yeoman, manager of Nasa's Near-Earth Object Profram Office, said "The current probability of no impact in 2032 [is] about 99.998 per cent. "This is a relatively new discovery. With more observations, I fully expect we will be able to significantly reduce, or rule out entirely, any impact probability for the foreseeable future."