Google Warns Quantum Computers Could Crack Bitcoin-Like Encryption 20 Times Faster Than Expected

[Pelican Press 0]

This is the hidden content, please

• Sign In
• or
• Sign Up

This is the hidden content, please

• Sign In
• or
• Sign Up

Warns Quantum Computers Could Crack Bitcoin-Like Encryption 20 Times Faster Than Expected

Benzinga and Yahoo Finance LLC may earn commission or revenue on some items through the links below.

New research by 

This is the hidden content, please

• Sign In
• or
• Sign Up

suggested that RSA encryption, a critical security feature used in securing Bitcoin (CRYPTO:

This is the hidden content, please

• Sign In
• or
• Sign Up

), may be more susceptible to quantum computing attacks than previously anticipated.

What Happened:  

This is the hidden content, please

• Sign In
• or
• Sign Up

Quantum AI researcher Craig Gidney published a new paper indicating that RSA encryption could be broken with 20 times fewer quantum resources than previously estimated.

“We published a preprint demonstrating that 2048-bit RSA encryption could theoretically be broken by a quantum computer with 1 million noisy qubits running for one week. This is a 20-fold decrease in the number of qubits from our previous estimate,” Gidney wrote in a blog post.

Don’t Miss:

A qubit is the basic unit of information used to encode data in quantum computing, serving as the foundation upon which quantum algorithms are built.

The study did not specifically mention Bitcoin or other cryptocurrencies. However, the

This is the hidden content, please

• Sign In
• or
• Sign Up

, which secures transactions on Bitcoin with public and private keys, is similar in principle to the RSA.

While Elliptic Curve Cryptography is currently secure against classical computers, a strong enough quantum computer could effectively crack it in the years to come, according to a previous study.

Why It Matters: Concerns over

This is the hidden content, please

• Sign In
• or
• Sign Up

have increased with the release of

This is the hidden content, please

• Sign In
• or
• Sign Up

’s next-generation quantum chip, “Willow,” last year. This chip can solve a standard benchmark computation in under five minutes, a task that would take the world’s fastest supercomputers 10 septillions, or 10^25, years to solve.

While some experts ruled out immediate dangers, others advocated for proactive measures to prepare for the threat, such as switching to quantum-resistant algorithms.

A 

This is the hidden content, please

• Sign In
• or
• Sign Up

 suggested that Bitcoin might need to undergo a costly and time-consuming update process to counter the threat from quantum computing in the future.

Read Next: 

Story Continues

This is the hidden content, please

• Sign In
• or
• Sign Up

#

This is the hidden content, please

• Sign In
• or
• Sign Up

#Warns #Quantum #Computers #Crack #BitcoinLike #Encryption #Times #Faster #Expected

This is the hidden content, please

• Sign In
• or
• Sign Up

This is the hidden content, please

• Sign In
• or
• Sign Up