According to ChainCatcher, Google announced the launch of its first quantum chip, Willow, which has once again raised concerns about private keys being decrypted to steal user funds. Bernstein analyst Gautam Chhugani wrote in a report that the 105-qubit chip is still far from the millions of qubits required to actually attack Bitcoin's Elliptic Curve Digital Signature Algorithm (ECDSA) and Secure Hash Algorithm (SHA-256).
Analysts said: "Should Bitcoin contributors start preparing for a quantum future? Yes, but any real threat to Bitcoin seems to be decades away." It is reported that ECDSA is an encryption algorithm used to protect private keys and enable digital signatures for Bitcoin transactions. SHA-256 ensures the integrity of the Bitcoin ledger by hashing transaction data and plays a vital role in mining through Bitcoin's proof-of-work mechanism.
