American tech giant Google announced on Monday

that it has overcome key challenges in quantum computing

with its next-generation chip 'Willow'

solving a computational problem that would take the world's fastest supercomputer 10 to the power of 27 years

(10,000,000,000,000,000,000,000,000 years)

In just 5 minutes.

So, if quantum chips can be used for mining,

will they threaten the interests of existing miners?

Will Willow threaten the security of Bitcoin?

Claiming to have 105 qubits, will Willow threaten the security of Bitcoin?

Experts believe that it will take several decades for quantum computers to crack Bitcoin's encryption.

In the foreseeable future, cryptographers

remain confident in Bitcoin's quantum resistance.

Experts, including AVA Labs founder

Emin Gün Sirer, believe that quantum computing does not pose an immediate threat to cryptocurrencies.

Sirer emphasizes that although the potential of quantum computing is astonishing,

this technology is currently still in the linear scaling stage.

The window for launching a quantum attack on Bitcoin remains very small.

Bitcoin transactions use a two-way hash function,

and the public key is only exposed when the transaction is initiated.

This gives funds in a static state 'quantum resistance'

because attackers cannot obtain usable information.

Quantum risk only arises when the transaction triggers the exposure of the public key,

but even then, attackers have a very short window of opportunity,

about 5 to 30 minutes, after which the transaction will be recorded on the blockchain.

However, Sirer points out that Bitcoin from Satoshi Nakamoto's era might be more vulnerable

because those bitcoins used the 'P2PK' (Pay to Public Key) format,

which exposes the public key and gives attackers more time to attack.

The resistance of Bitcoin to quantum attacks

has long been established within its cryptographic protocols.

Bitcoin employs two main cryptographic algorithms:

'Elliptic Curve Digital Signature Algorithm 256 bits' (ECDSA 256)

and 'Secure Hash Algorithm 256 bits' (SHA-256).

Theoretically, these cryptographic methods may be threatened by quantum computing,

but breaking these cryptographic methods requires a quantum computer with over 1 million qubits,

further exceeding Willow's current capabilities.

In particular, the difficulty of breaking SHA-256 is even higher,

potentially requiring millions of qubits in a quantum computer.

The creator of Bitcoin, pseudonymously known as 'Satoshi Nakamoto',

foresaw the potential risks that quantum computing could bring as early as 2010,

but we still need to be aware of the risks posed by future quantum technologies.