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I’ve seen a lot of posts asking if quantum computers could compromise Bitcoin’s private key security. I thought this might provide an insight on how safe 256-bit encription really is.

I’ve seen a lot of posts asking if quantum computers could compromise Bitcoin’s private key security. I thought this might provide an insight on how safe 256-bit encription really is.



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16 Comments

  1. By the time a computer is powerful enough to crack existing Bitcoin keys, the network will have moved onto a new cryptography suite.

    Might be an opportunity to mine for lost coins 100’s of years from now though.

  2. Quantum computers are at least 10 -20 years away from having enough quantum bits to crack 2048 bit encryption.

    Also, Bitcoin can update it’s encryption to post-quantum cryptography (sometimes referred to as quantum-proof, quantum-safe or quantum-resistant)

    Breaking 2048-bit RSA, would take a quantum computer with 20 million qubits 8 hours. Most researchers estimate it will take somewhere between a decade and two decades to reach this point.

    IBM’s newest quantum-computing chip, revealed on November 15 has 127 quantum bits (qubits), making it the first such device to reach 3 digits.

    Google’s Sycamore computer has about 50 working qubits.

    Quantum computers won’t break encryption just yet @ https://www.protocol.com/manuals/quantum-computing/quantum-computers-wont-break-encryption-yet

What do you think?

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