Google Warns Quantum Computers Could Crack Crypto Sooner Than Expected

Google researchers have warned that quantum computers may be able to break the cryptography protecting major blockchain networks. The company's findings suggest that future quantum computers could crack the cryptography with far fewer resources than previously estimated. This is due to advances in quantum algorithms, which could break the elliptic curve cryptography used to secure transactions and wallets. The researchers estimate that it could require fewer than 500,000 physical qubits to break the 256-bit Elliptic Curve Discrete Logarithm Problem. No existing quantum computer is capable of executing such an attack, but progress toward cryptographically relevant quantum computers is accelerating. The security of cryptocurrencies depends on the practical impossibility of deriving a private key from a public key using classical computers.