Google researchers have issued a warning that future quantum computers may crack some of the encryption technologies used in digital assets like Bitcoin with fewer resources than previously expected. The computational power required for such attacks may be lower than early estimates, with the scale of quantum computing hardware needed to crack ECDLP-256 potentially reduced by about 20 times. Although Bitcoin and others currently face no immediate risk, researchers recommend that the crypto industry shift to post-quantum cryptography (PQC) and urge vulnerable cryptocurrency communities to migrate as soon as possible. Google plans to fully migrate its security systems to PQC by 2029. The threat of quantum computing to cryptocurrencies has been a concern for years, with some institutions already taking action. Although the actual emergence of quantum computers may occur later than the time needed for blockchain to complete its migration, the margin for error has diminished, and developers and others should accelerate their efforts. Some post-quantum projects are already underway, demonstrating that the transition to post-quantum cryptography is feasible.
