Traditional blockchain security relies heavily on cryptographic algorithms like RSA and elliptic curve cryptography (ECC). These algorithms are considered secure against classical computers due to the immense computational effort required to break them. However, quantum computers, leveraging principles like superposition and entanglement, can process complex calculations exponentially faster. Shor's algorithm, for instance, enables quantum computers to factor large integers efficiently, potentially compromising RSA and ECC.
While fully functional quantum computers capable of breaking current encryption aren't yet a reality, progress is accelerating. Google's recent unveiling of its "Willow" quantum chip underscores the rapid advancements in this field. Although experts estimate that a quantum computer capable of breaking Bitcoin's encryption is still a decade away, the window for proactive defense is narrowing.