Quantum Computers Could Threaten Bitcoin and Ethereum Security
- Google’s Quantum AI team claims that Bitcoin and Ethereum cryptography can be broken with fewer than 500,000 physical qubits.
- The research suggests a quantum computer could steal Bitcoin mid-transaction in about nine minutes, with a success rate of approximately 41%.
- Taproot, Bitcoin’s upgrade from 2021, has increased the number of quantum-exposed coins to about 6.9 million BTC.
- Google has set an internal deadline for post-quantum migration by the year 2029.
- Approximately one-third of Bitcoin’s supply is modeled as potentially quantum-exposed over time.
Recent research indicates that advancements in quantum computing could pose significant threats to current blockchain security measures, particularly affecting Bitcoin due to its slower transaction confirmation times compared to Ethereum. The Taproot upgrade has inadvertently increased vulnerability by exposing more public keys on-chain.
As Google sets a timeline for post-quantum migration, stakeholders are urged to monitor developments closely as roughly one-third of Bitcoin’s supply may become vulnerable without timely upgrades or protective measures. (Source)
