It's happening. Google just gave crypto a 2029 deadline.
And says ECC used by Bitcoin can be cracked with ~20x fewer qubits 👇
Google Research
#### Max the VC 👨🚀
@mreiffy · 15h ago
Google is basically saying: “We’ve cut the quantum resources needed to break Bitcoin’s encryption by 20x. We can now break it. We can prove it. We’re just not going to tell you how.
We’ve slowed down research to give crypto a chance. You have until 2029 to figure out a solution. Good luck.”
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One Sentence Summary
Google Research highlights that Bitcoin's ECC encryption could be vulnerable to quantum computing attacks by 2029.
Summary
Google Research has released findings indicating that the Elliptic Curve Cryptography (ECC) utilized by Bitcoin is susceptible to quantum computing attacks. The report suggests a significant reduction in the number of qubits required to break such encryption, setting a 2029 timeline for potential risks. This highlights a critical long-term challenge for cryptocurrency security standards.
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Published At Today
Language
English
Tags
Quantum Computing
Google Research
Bitcoin
Cryptography
Cybersecurity