"Google's researchers have designed quantum circuits capable of breaking the 256-bit elliptic curve discrete logarithm problem (ECDLP-256) used by cryptocurrencies, achieving this with fewer than 1,200 logical qubits and around 90 million Toffoli gate operations."
"The researchers estimate the attack could be executed in minutes on a machine with fewer than 500,000 physical qubits, significantly shortening the timeline for when quantum computers could break current cryptography."
"The news comes just days after Google moved up its timeline for transitioning to post-quantum cryptography, setting a 2029 target after faster-than-expected advances in quantum computing."
Google's Quantum AI research division has published findings indicating that the cryptographic foundations of major cryptocurrencies are at greater risk from quantum attacks than previously thought. The research focuses on elliptic curve cryptography (ECC), which secures Bitcoin and Ethereum. New estimates show that quantum circuits can break ECC with significantly fewer resources than expected. The attack could be executed in minutes on a machine with fewer than 500,000 physical qubits, prompting Google to accelerate its transition to post-quantum cryptography by 2029 and urging the cryptocurrency community to adapt.
#quantum-computing #cryptography #blockchain-security #elliptic-curve-cryptography #post-quantum-cryptography
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