41% probability, asset takeover during transmission
The introduction of quantum resistance technology has grown louder.
Bitcoin slightly rose in previous expectations
Google has released a white paper to the effect that hacking digital assets such as Bitcoin and Ethereum with quantum computers may be much easier than previously expected. According to Google projections, the quantum computer threat could actually occur within three years at the earliest.
On the 31st of last month (local time), Google Quantum AI researchers announced the results of a study that significantly reduced the resources needed to hack the digital asset encryption system than previously expected.
Specifically, the study predicted that about 500,000 physical qubits would be needed to hack Bitcoin and Ethereum. A qubit is an information processing unit that utilizes the quantum state of matter.
Until now, the industry has observed that more than millions of qubits are needed to hack Bitcoin and Ethereum. Google’s research has significantly reduced the resources needed for hacking.
Google even presented a scenario in which it uses this technology to steal Bitcoin in real-time transmission.
Google emphasized that private keys can be calculated first with quantum computers before blocks are created in transactions in wallets where public keys are exposed.
Google explains that in this way, Bitcoin being transferred can be seized in about 9 minutes.
It takes about 10 minutes to create a Bitcoin block. Once the block is created, the transaction is over and hacking is no longer possible. Research shows that Bitcoin can be seized with a 41% probability before block creation.
According to the study, there are about 6.9 million Bitcoin at risk of takeover through this technology. This is about one-third of the total amount of Bitcoin issued (21 million).
Google recently predicted that the era of quantum computers will begin to open in 2029.
It is explained that digital assets must be moved to a quantum computer-resistant environment within three years as it seems that much less computational power is needed to take over digital assets than expected.
As a result, there are growing calls for the rapid introduction of a “post-quantum” technology that can protect encryption from quantum computers.
“Cryptography is always easier than decryption, and digital assets will be strong even in the era of quantum computers,” said Zhao Changfeng, founder of Binance (formerly Twitter), adding, “We can solve it by updating it with quantum-resistant algorithms and transferring our digital assets to a new type of wallet.”
“From now on, we need to develop more creative and smart solutions so that Bitcoin can survive the era of quantum computers,” said Starcnet founder Elie Ben Saason. “It does not mean that Bitcoin will necessarily disappear in the era of quantum computers, and I think we can definitely adapt if we try from now on.”
However, despite Google’s research announcement, there was no significant change in the price of digital assets such as Bitcoin.
According to CoinMarketCap, Bitcoin is trading at $68,148.53 as of 9 a.m. on the 1st, up 2.18% from 24 hours ago. Ethereum is up 4.15% at $2104.27.
This is due to growing expectations that the U.S.-Iran war could end soon.
U.S. President Donald Trump said the timing of ending the war against Iran was “very soon.” Iranian President Masud Pejeshikyan also said he was “willing to end the conflict” on the premise of meeting “required conditions,” such as the suspension of attacks by the United States and Israel.
Meanwhile, Google recently announced “TurboQuant,” a compression algorithm that reduces the memory used by AI when reading and answering commands (inferences). As a result, the stock prices of global semiconductor-related companies were greatly shaken.
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