#Google's new quantum chip, Genesis, announced in December 2024, marks a significant leap in #quantumcomputing capabilities. While it shows promise in solving specific computational problems exponentially faster than classical computers, it is unlikely to "break Bitcoin" in the near term. Here’s why:
1. Bitcoin Security Mechanisms
Bitcoin's security relies on:
#EllipticCurveCryptography (ECC): Used for public and private keys.
SHA-256 Hashing Algorithm: Used in mining and generating Bitcoin addresses. Breaking ECC would theoretically allow someone to derive private keys from public keys, enabling theft of funds.
However:
Many Bitcoin wallets only expose public keys after funds are spent. Until then, the hashed public key (address) is visible, which quantum computers cannot reverse yet.
SHA-256 hashing remains computationally infeasible for current quantum computers, as it requires breaking collision resistance—a different problem from ECC.
2. Quantum Computing Today
Google's Genesis chip demonstrates advancements, but:
Current quantum computers lack the qubits and error-correction needed to challenge #Bitcoin . Estimates suggest a quantum computer with 1 million logical qubits (far more than today's machines) would be needed to threaten ECC.
Genesis does not yet have this scale or reliability.
3. Bitcoin’s Adaptive Nature
If quantum computing progresses faster than expected, Bitcoin developers can:
Transition to quantum-resistant cryptography (e.g., lattice-based or hash-based cryptography).
This transition, though complex, is feasible and has been anticipated by the Bitcoin community.
4. Timelines
Experts believe it will take 10-20 years before quantum computers can challenge current cryptographic standards. This provides ample time for blockchain networks to adapt.
While Google's quantum chip is groundbreaking, Bitcoin and similar systems are not immediately at risk. The cryptographic community and blockchain developers are actively researching quantum-resistant solutions to safeguard against future threats.
