"Bitcoin Just Got Killed By Quantum Computing" ... at least that's what the doomers are currently saying.
Here's why:
Google just unveiled Willow, a quantum supercomputer with 105 qubits and improved error correction. It’s a groundbreaking leap in computing power, but does this mean Bitcoin’s encryption is about to crumble?
🚫 Short Answer: No.
🔒 Bitcoin's Encryption at a Glance:
1️⃣ ECDSA 256 (Signatures):
- Vulnerable to Shor’s Algorithm.
- Cracking it would require millions of qubits. Willow’s 105? Not even close.
2️⃣ SHA-256 (Mining):
- Could be impacted by Grover’s Algorithm.
- Needs millions of qubits just to halve its security. Again, no real threat here.
💡 What Does This Mean?
Bitcoin’s cryptography remains secure—for now. However, quantum advancements like Willow are a wake-up call. While the tech isn’t ready to challenge Bitcoin yet, it highlights the importance of quantum-resistant upgrades. The industry has time to prepare, but innovation must keep pace.
Quantum computing is a game-changer, but it’s not the master key to break Bitcoin—at least not today. The race is on to future-proof cryptography before quantum computers scale further.
Conclusion: Bitcoin's cryptography remains safe (and can be upgraded anyway if there would emerge a real threat).
Source: Raphael Schön's LinkedIn post
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