A new study published by Google’s Quantum AI team has revealed that the Bitcoin network may become vulnerable to quantum computing attacks sooner than expected.
Attacks previously thought to require millions of qubits are now estimated to be possible with fewer than 500,000 qubits.
The study warned that if technological advancements occur faster than expected, Bitcoin’s cryptographic security could be threatened sooner.
Specifically, it has been noted that attackers might target public keys that are briefly exposed during transactions, rather than old wallets. This is highlighted as a vulnerability that could allow funds to be intercepted during transfers.
The study also noted that while the Taproot update to the Bitcoin network increased transaction efficiency, it could also increase potential risks from such quantum attacks. According to the model, a potential attack could be completed in approximately 9 minutes, which is shorter than Bitcoin’s average 10-minute block confirmation time.
On the other hand, it was stated that the Ethereum network may be relatively less at risk from such attacks due to its faster confirmation times. According to the research, the fact that approximately 6.9 million BTC are held in addresses with leaked public keys also increases the potential risk.
Google had previously announced plans to transition its entire infrastructure to post-quantum cryptography by 2029.
*This is not investment advice.
