Google Quantum AI Estimates Lower Qubit Requirement for Cracking Bitcoin and Ethereum Security
Revised estimates indicate that only 1,200 to 1,450 logical qubits may suffice to breach elliptic-curve cryptography, exposing millions of BTC and ETH to potential theft. The cryptocurrency sector must proactively transition to quantum-resistant solutions to mitigate risks associated with these advancements.
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A recent paper from Google Quantum AI, co-authored by Dan Boneh, suggests that cracking elliptic-curve cryptography may require 1,200 to 1,450 logical qubits, a significant reduction from previous estimates of several thousand. Approximately 6.9 million BTC are at risk due to already-revealed public keys, with millions of ETH similarly vulnerable.
Boneh recommends hash-based signatures like SLH-DSA for migrating to quantum-resistant solutions while cautioning against hasty actions that could lead to severe bugs. He also proposes a method for proving ownership of coins post-quantum, allowing users to maintain verifiable claims on their assets. Any advancements in quantum computing could drastically alter perceptions of risk in the cryptocurrency market.
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