QUANTUM COMPUTERS ARE CLOSING IN ON CRACKING BITCOIN

- For years, Bitcoin’s strength has rested on cryptographic methods that classical computers can’t crack in any reasonable time.

- Its elliptic curve cryptography (ECC) protects wallets and transactions through math so complex it’s practically unbreakable with today’s machines. But quantum computers operate on a different level entirely.

The Quantum Threat:

- New algorithms and smarter error correction have reduced quantum resources needed to break encryption by a factor of 20 according to a recent Google report.

- Google Quantum Researcher Craig Gidney revealed that breaking Bitcoin’s 2048-bit RSA encryption could now require 20x fewer qubits than expected.

- This means quantum machines can solve the math behind encryption much more efficiently than before.

- David Carvalho, CEO of Naoris Protocol, told BeInCrypto that this moment is near. He said the crypto space should have started taking quantum threats seriously years ago.

Why does this matter?

- Bitcoin’s cryptography relies on problems classical computers can’t solve easily. But quantum computers can run Shor’s algorithm, which can quickly break those problems.

- While Bitcoin’s 256-bit encryption is stronger than older RSA keys, the exponential growth in quantum capability narrows the security margin fast.

- Adding to the concern, Project 11, a quantum computing research group, has put up nearly $85,000 in a bounty for anyone who can break simplified Bitcoin encryption using quantum computers.

- Beyond crypto, this challenge threatens global security systems that rely on RSA and similar methods—from banking to government communications.

Image: CNBC