Google Research Says Quantum Threat to Crypto May Come Sooner
Google Research has released new estimates suggesting that future quantum computers could break core cryptocurrency security sooner than previously thought, posing a threat to Bitcoin wallets and live transactions. The updated estimates indicate that a sufficiently fast quantum computer could attack active Bitcoin transactions before network confirmation, highlighting the need for post-quantum planning and potential upgrades to quantum-resistant cryptography.
Google Research has updated its estimates on the quantum threat to cryptocurrency, suggesting that future quantum computers could break core security sooner than thought. The risk remains years away, but required resources have dropped sharply. Most blockchain networks rely on elliptic curve cryptography, which could be vulnerable to quantum attacks. New estimates indicate that a quantum computer with fewer than 500,000 physical qubits could solve the 256-bit elliptic curve discrete logarithm problem in minutes. This raises concerns for Bitcoin wallets and live transactions, as a quantum computer could potentially attack active transactions before network confirmation. The findings also highlight the potential risks of Bitcoin's Taproot upgrade, which made public keys visible on-chain by default.
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