Quantum computers could break crypto wallet encryption with just 10,000 qubits, researchers say
Researchers suggest quantum computers may break Bitcoin and Ethereum encryption with as few as 10,000 qubits, accelerating the need for quantum-resistant security.Summary
A new study by Caltech and Oratomic indicates that quantum computers could potentially break the encryption securing Bitcoin and Ethereum blockchains with significantly fewer qubits than previously estimated. The research suggests a system with around 26,000 qubits could crack ECC-256 in approximately 10 days, allowing control of funds. While RSA-2048, used by traditional financial institutions, requires more qubits (around 102,000), the findings represent a substantial reduction in the estimated qubit requirements – falling five orders of magnitude in two decades to about 10,000 today. This compression of the timeline highlights the urgency for the crypto industry to migrate to quantum-resistant platforms before vulnerabilities are exploited, especially considering the risk to funds in existing vulnerable addresses. The study acknowledges a potential bias as the authors are shareholders in Oratomic, a quantum startup.
(Source：CoinDesk)