tldr; Google Quantum AI’s Willow chip has achieved a historic milestone with the Quantum Echoes algorithm, demonstrating verifiable quantum advantage and performing calculations 13,000 times faster than classical supercomputers. This breakthrough could impact cryptography, including Bitcoin’s reliance on elliptic curve cryptography, as quantum computing advances toward real-world applications. The development raises concerns about Bitcoin’s security and accelerates efforts in post-quantum cryptography, while intensifying geopolitical competition in quantum technology.
*This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.
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Sassy_Allen on
Not worried about ICP. I’m curious to see how Chain Fusion plays out. If ICP can interact with Bitcoin without bridges, does that change things if Bitcoin itself can’t or isn’t upgraded? It also raises questions about other blockchains since all others still rely on bridges and wrapped tokens. I think it could matter if everyone else is tied to those vulnerabilities while ICP isn’t. It might be able to keep using the network securely without being exposed in the same way.
virtuzoso on
If it can break Bitcoin, then Bitcoin will be the least of your problems. Credit cards, every single government, every single bank, every nuclear facility will have ZERO digital security
ShaeAubrey83 on
Crazy tech leap. If quantum computing goes mainstream, crypto’s security game might get shook.
NotMyMainLoLzy on
Easy work. The future is not the blockchain
kam1L- on
While the „Quantum Echoes“ algorithm is a remarkable achievement, it does not pose a direct and immediate threat to the cryptographic foundations of the global crypto economy. The type of problem it solves—simulating complex quantum systems—is fundamentally different from the mathematical problems that secure cryptocurrencies, such as factoring large numbers (which is what Shor’s algorithm, a different quantum algorithm, is designed to do).
DisastrousMechanic36 on
back to physical cash then.
CortaCircuit on
No it didn’t…
harra23 on
Overhyped for three reasons.
1. Quantum computing is 20-30 years away minimum.
2. It is only a threat to bitcoin addresses which have revealed public keys. So all you would need to do is send your bitcoin to an address that does not have a revealed public key (an address which has not sent anything)
3. Bitcoin could transition to a quantum secure signature scheme SPHINCS+. SPHINCS+ have already been standardised by NIST as a post quantum secure signature scheme so this is a relatively obvious soft or hard fork when the time comes.
Finally, you have cryptocurrencies such as Verus (VRSC) which are quantum ready. Verus uses a hashing algorithm which is based on Haraka v2 which is an underlying hash algorithms for SPHINCS+ signature scheme. Making it even easier to transition to a post quantum world.
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No….right? ://
tldr; Google Quantum AI’s Willow chip has achieved a historic milestone with the Quantum Echoes algorithm, demonstrating verifiable quantum advantage and performing calculations 13,000 times faster than classical supercomputers. This breakthrough could impact cryptography, including Bitcoin’s reliance on elliptic curve cryptography, as quantum computing advances toward real-world applications. The development raises concerns about Bitcoin’s security and accelerates efforts in post-quantum cryptography, while intensifying geopolitical competition in quantum technology.
*This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.
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Not worried about ICP. I’m curious to see how Chain Fusion plays out. If ICP can interact with Bitcoin without bridges, does that change things if Bitcoin itself can’t or isn’t upgraded? It also raises questions about other blockchains since all others still rely on bridges and wrapped tokens. I think it could matter if everyone else is tied to those vulnerabilities while ICP isn’t. It might be able to keep using the network securely without being exposed in the same way.
If it can break Bitcoin, then Bitcoin will be the least of your problems. Credit cards, every single government, every single bank, every nuclear facility will have ZERO digital security
Crazy tech leap. If quantum computing goes mainstream, crypto’s security game might get shook.
Easy work. The future is not the blockchain
While the „Quantum Echoes“ algorithm is a remarkable achievement, it does not pose a direct and immediate threat to the cryptographic foundations of the global crypto economy. The type of problem it solves—simulating complex quantum systems—is fundamentally different from the mathematical problems that secure cryptocurrencies, such as factoring large numbers (which is what Shor’s algorithm, a different quantum algorithm, is designed to do).
back to physical cash then.
No it didn’t…
Overhyped for three reasons.
1. Quantum computing is 20-30 years away minimum.
2. It is only a threat to bitcoin addresses which have revealed public keys. So all you would need to do is send your bitcoin to an address that does not have a revealed public key (an address which has not sent anything)
3. Bitcoin could transition to a quantum secure signature scheme SPHINCS+. SPHINCS+ have already been standardised by NIST as a post quantum secure signature scheme so this is a relatively obvious soft or hard fork when the time comes.
Finally, you have cryptocurrencies such as Verus (VRSC) which are quantum ready. Verus uses a hashing algorithm which is based on Haraka v2 which is an underlying hash algorithms for SPHINCS+ signature scheme. Making it even easier to transition to a post quantum world.