strong buy
Quantum Breakthrough Threatens Blockchain Security
Google's quantum research team has found that compromising RSA encryption—widely used in banking and some cryptocurrencies—may require many fewer qubits than initially thought. Craig Gidney explained that cracking a 2048-bit RSA key might be achievable in less than a week with fewer than 1 million noisy qubits, a stark reduction from the previous estimate of 20 million in 2019. While Bitcoin currently employs elliptic curve cryptography instead of RSA, this progress indicates that the effective time frame for breaching ECC-based protections could also decrease, raising significant alarms about the longevity of blockchain security in the face of advancing quantum computing.
Source available for registered users Sign Up Free
AI Analysis
The discovery by Google's quantum team reveals that quantum computers may become capable of cracking RSA encryption much sooner than previously projected. The reduction from 20 million to under 1 mill...
AI Recommendation
Investors and stakeholders in Bitcoin should be cautious about the potential security vulnerabilities posed by quantum computing breakthroughs. While immediate risks may be limited, the rapid developm...
Disclaimer
The AI analysis and recommendations provided are for informational purposes only. Any investment decisions should be made at your own risk. Past performance is not indicative of future results. Always conduct your own research and consider consulting with a financial advisor before making any investment decisions.