Google's quantum chip doesn't really need much discussion. Currently, cryptocurrency security is indeed not as comprehensive as centralized financial institutions; at least most transactions still rely on centralized exchanges, and private keys cannot be exposed online, while WeChat, Alipay, and bank passwords can be exposed online. Cryptocurrency only adds autonomy.
Institutions with such capabilities won't casually release news; they will develop secretly. If a genius suddenly rises in quantum computing and achieves universal quantum computing, there's no need to panic; it would mean that our civilization would advance to another dimension, optimizing health, longevity, and social welfare systems to unimaginable levels, and our understanding of everything in the world would reach a new height.
Of course, for universal quantum computing, the first step is to solve the factorization problem. Solving factorization means cryptographic algorithms become ineffective, but I believe that before breakthroughs in quantum computing, cryptocurrencies will upgrade their algorithms.
It stands to reason that in about two years, Bitcoin will undergo another hard fork to upgrade its quantum-resistant algorithms. Google's breakthroughs in quantum error correction have opened a window for quantum computing, and continuous optimizations could indeed pose a threat to cryptocurrencies.
You don't need to be curious about whether centralized financial security or cryptocurrency security is better. The answer is definitely that centralized financial institutions are safer, but cryptocurrencies have autonomy.
It's a simple principle: you can enter your Alipay password online, but if you use your private key online, it means your funds may have completely lost control.
Compared to the security systems of centralized institutions, cryptocurrencies are still too simplistic. Cryptocurrencies have only enriched two types of entities: one institution and one hacker.~
