Quantum Leap in Cryptography: Bitcoin at Risk from Future Quantum Computers

Recent research from Google suggests that quantum computers might be capable of cracking Bitcoin's cryptography much sooner than previously believed. The study reveals that to break RSA encryption, quantum resources required are now estimated to be 20 times less than earlier estimates. Previously, it was thought that 20 million qubits would be necessary, but new calculations indicate that fewer than 1 million qubits could suffice, enabling hackers to potentially compromise Bitcoin within days. Although current quantum computers, such as IBM's Condor with 1,121 qubits, are still far from achieving this capacity, the trajectory of development increases concerns about future vulnerabilities. This development signals an urgent need for the cryptocurrency industry to strengthen quantum resistance and consider upgrading cryptographic standards to safeguard digital assets against emerging quantum threats.