Google has announced its new quantum chip: Is it a danger for crypto?

2024-12-10 01:04:12

Abstract generation in progress

Many companies, from Microsoft to IBM, have been working hard on quantum technology in recent years, and Google has also introduced a new chip for this technology. According to yesterday’s announcement, problems that would take a normal computer as long as the formation of the universe to solve can be solved in less than 5 minutes with the Willow chip, which has a capacity of 105 qubits.

Can it solve Bitcoin’s security?

As is known, for years, it has been stated that quantum computers can solve the encryption mechanisms in the security infrastructure of cryptocurrencies, especially Bitcoin. However, technology investor and former Google executive Kevin Rose stated that this is not currently possible:

“Willow, can solve the Bitcoin system? The estimated capacity to solve Bitcoin’s encryption infrastructure is 13 million qubits within 24 hours. However, Google’s Willow chip has a capacity of 105 qubits… Of course, this is a very important development, but there is still a long way to go.”

As a reminder, Ethereum’s founder Vitalik Buterin also mentioned this issue a while ago and pointed out that a hard fork might be necessary for Ethereum against quantum developments.

Published: December 10, 2024 12:04 Last Updated: December 10, 2024 12:09

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