The new Google quantum computer may have killed Bitcoin. Bitcoin Security Threat: The internet giant debuted Willow, a quantum supercomputer, on Monday. Some jobs Willow executes in five minutes take ten septillion years on classical supercomputers. “1 trillion,0,000,000,000”.
The cosmos is under 13.8 billion years old. This powerful computer could bypass security systems, decipher encrypted data, crack nuclear weapon codes, and brute-force passwords to access almost any door. Nonetheless, optimism remains. Although quantum computing affects security, it is not thought to possess the universe’s secret. Bitcoin is secure.
Bitcoin Security and Quantum Computing
Superposition and entanglement allow qubits to express zeros and ones concurrently, unlike bits. Quantum computers can solve issues that ordinary computers cannot by performing many calculations. Willow employs 105 qubits and displays exponential error reduction with density. Bitcoin Security Threat: This is necessary to build a large-scale quantum computer, says Google CEO Sundar Pichai.
Quantum computers could decipher Bitcoin’s mining and signature cryptography, including SHA-256 and ECDSA. To conclude, quantum computers, even Google’s Willow, cannot decrypt popular methods in real time because of their limited processing capability and error correction. RSA, ECC, and AES are popular Bitcoin and data security algorithms.
Bitcoin Security Threats from Quantum
As quantum computers like Willow evolve, they may factor in huge numbers, which might threaten encryption methods and wallet and transaction security. To attain extremely low mistake rates, quantum computers with millions or billions of “qubits” are needed, which is beyond existing technology.”In their most recent quantum chip, Google asserts that they have shown “below threshold” error-correcting capabilities,” wrote Solana ecosystem Dialect project founder Chris Osborn on X.
Commercially converting physical qubits is “below threshold.” Transformed “noisy” qubits into “logical” ones.A multi-qubit abstraction for real computing and error handling. Furthermore, he said. Shor’s method requires 5,000 logical qubits to decrypt data. Decryption requires “millions” of physical qubits. Google’s processor has 105 qubits, according to Osborn.
Quantum-resistant cryptocurrencies
Cryptocurrency and other businesses have time to create quantum-resistant algorithms. Ethereum co-founder Vitalik Buterin has also called for upgraded security and resources to usher in quantum computing. Buterin said that in an October technical blog post. Scott Aaronson and other quantum computing experts are now seriously considering medium-term quantum computing.
All Ethereum protocol parts that use elliptic curves must now be hash-based. Next, quantum-resistant option, “the announcement read. “This has consequences across the entire Ethereum roadmap.” Google’s Quantum suggested creating quantum-resistant alternatives proactively based on cautious assumptions about proof-of-stake solutions.
Summary
Google’s Willow quantum computer can do in minutes what took traditional computers millions of years. While this raises worries about Bitcoin security, Willow’s current capabilities cannot break Bitcoin’s in real-time. Bitcoin’s encryption algorithms, such as SHA-256 and ECDSA, could be vulnerable to quantum computers with millions of qubits, but Willow has just 105 qubits and error correction. Cryptocurrencies like Ethereum are investigating quantum-resistant algorithms for future threats.
