Google researchers have issued a warning that future quantum computers may break the encryption protecting Bitcoin and other major cryptocurrencies, urging the crypto industry to prepare immediately.
The Warning
In a blog post and white paper released this week, Google’s research team said the computing power needed to break the encryption protecting crypto wallets and transactions might be considerably less than previous expert estimates. Google clarified that while no such machine currently exists, the threat from future quantum computers is real.
Google stated, “Google has led the responsible transition to post-quantum cryptography since 2016. In a new whitepaper, we show that future quantum computers may break the elliptic curve cryptography that protects cryptocurrency and other systems with fewer qubits and gates than previously realized. We want to raise awareness on this issue and are providing the cryptocurrency community with recommendations to improve security and stability before this is possible, including transitioning blockchains to post-quantum cryptography (PQC), which is resistant to quantum attacks.”
What Is at Risk
The core concern centers on elliptic-curve cryptography, or ECC, which forms the mathematical foundation for securing most crypto transactions. Google’s latest research says a future quantum computer could crack a key component of this system, known as ECDLP-256, using approximately 20 times less hardware than earlier projections.
The researchers said the window for action is “increasingly narrow” and that the pace of technological progress requires faster action from developers, exchanges, and wallet providers. Google urged, “We urge all vulnerable cryptocurrency communities to join the migration to PQC without delay.”
Who Was Told
Google said the U.S. government has been informed of the research. The company added, “To share this research responsibly, we engaged with the U.S. government and developed a new method to describe these vulnerabilities via a zero-knowledge proof, so they can be verified without providing a roadmap for bad actors. We urge other research teams to do the same to keep people safe. We look forward to continuing our work across the industry following our 2029 timeline alongside others working on responsible approaches, like Coinbase, the Stanford Institute for Blockchain Research, and the Ethereum Foundation.”
The article says Google has led the transition to post-quantum cryptography since 2016 and that it plans to continue work across the industry following its 2029 timeline. The source presents the warning as a call for the cryptocurrency sector to move to post-quantum cryptography before future quantum machines can break current protections.