Will Google bring an end to cryptocurrencies?

Technology giant Google introduced its new quantum computing chip, how will this chip affect cryptocurrencies?

Google’s Quantum Artificial Intelligence team claimed that the new quantum computing chip can solve a calculation problem that the best supercomputers can solve in about 10 septillion years in less than five minutes.

Google’s Quantum Artificial Intelligence leader Hartmut Neven stated that the errors of the chip known as Willow could be corrected exponentially and that it could process certain calculations at super speed. Neven used the following expressions;

“This mind-boggling number exceeds the time scales known in physics and the age of the universe to a large extent.”

Google, which enables supercomputers to take a step further, has made cryptocurrency investors nervous. The crypto community has started discussing whether these quantum computers can crack crypto encryptions or not.

Google takes an important step for supercomputers

Google CEO Sundar Pichai said on December 9th at X that Willow is an important step in the journey to build a quantum computer.

Hartmut Neven, Google’s artificial intelligence manager, used the following statement;

This historic achievement

Google hopes to develop a computer that can perform complex and error-corrected calculations. The company has only been able to reach two of the six milestones on the quantum computing roadmap.

Is Google Willow a threat to cryptocurrencies

Cryptocurrencies are processed on public blockchains using encryption methods. Experts predict that in the distant future, supercomputers will be able to crack crypto encryption and bring an end to many digital assets, including Bitcoin.

These discussions were fueled by Google’s new chip.

Technology entrepreneur and former Senior Product Manager at Google, Kevin Rose, argues that Willow is still far from being a threat to crypto. According to Rose, a quantum computer with approximately 13 million qubits would need to decrypt Bitcoin’s encryption within 24 hours. While the Willow chip is a significant advancement, it consists of 105 qubits.

Rose used the following expressions;

“We still have a long way to go. Still, this is a significant step forward in quantum computing.” **

This article does not contain investment advice or recommendation. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.