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Google's "quantum computing" achieves a major breakthrough, causing concerns among Bitcoin supporters

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Google researchers recently claimed to have achieved quantum supremacy, leading some cryptocurrency supporters to question the impact of quantum computing on blockchain security.

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Quantum Supremacy

Reports indicate that Google's research team, led by John Martinis, has achieved what they call quantum supremacy. Researchers describe this as a "significant milestone towards quantum computing."

According to the report, a quantum computer completed a calculation in just 3 minutes and 20 seconds, a task that would take the world's most powerful supercomputer, "Summit," 10,000 years.

Quantum-Resistant Cryptography

However, cryptography researchers have already begun studying strategies to address this situation, known as "quantum-resistant blockchains."

Johann Polecsak, Chief Technology Officer of quantum-resistant blockchain QAN, explains:

In theory, mainstream public key algorithms are at risk of being cracked by quantum computing. Most encrypted data will be vulnerable to quantum computers in the near future.

Despite this, Polecsak cautions against overstating Google's breakthrough in the field of quantum computing, stating:

QAN is dedicated to countering quantum computing. It is currently difficult to gauge the importance of "quantum supremacy," but we believe the impact of quantum computing will become increasingly apparent.

Implications of Quantum Computing for Bitcoin

U.S. presidential candidate Andrew Yang also mentioned the impact of quantum computing on the crypto field on Twitter, stating:

In theory, quantum computers could break current encryption algorithms in a day. If this happens, all of our encrypted data will be vulnerable. This means our communication channels, banks, and national security systems could be compromised.

Early Bitcoin core developer Peter Todd also dismissed concerns from various parties on social media, stating:

This doesn't mean much because Google's "quantum supremacy" breakthrough is focused on primitive quantum computing, far from being able to break encryption.

Overall, cryptocurrencies are currently not affected by quantum computing, but with the rise of quantum computing, Bitcoin and other crypto assets may undergo changes in the future.

Further Reading

  • IBM's blockchain-related patents have grown by 300% this year
  • 【New Coin Watch】Discussing Smart Contracts: Where is the "smart" and where is the "contract"?

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