Why the mind-bending physics of quantum computing is terrifying for bitcoin and crypto

Quantum computing differs fundamentally from traditional computing by utilizing qubits, which can exist as 0, 1, or both simultaneously, enabling exponentially more powerful calculations. This capability stems from exploiting quantum mechanics, where particles don't have definite states until measured. Google's recent research demonstrates a quantum computer could theoretically derive a Bitcoin private key in just 9 minutes, jeopardizing not only Bitcoin but also Ethereum and broader financial systems. The security of Bitcoin relies on the difficulty of reversing a cryptographic function to find the private key from a public key; however, Shor's algorithm, executable on a quantum computer, can efficiently solve this problem. This poses a monumental threat to current encryption methods and necessitates a re-evaluation of cryptographic security in the age of quantum computing.

(Source：CoinDesk)