Quantum Computing May Require 20 Times Fewer Resources to Break RSA Encryption
A new research paper by Google Quantum AI researcher Craig Gidney indicates that breaking RSA encryption may require 20 times fewer quantum resources than previously thought. Key points include:
- The study targets the encryption methods securing crypto wallets and transactions.
- While bitcoin relies on elliptic curve cryptography (ECC), ECC can also be vulnerable to quantum attacks.
- Gidney estimates a 2048-bit RSA integer could be factored in under a week with fewer than one million noisy qubits, a significant reduction from his previous estimate of 20 million qubits.
- No quantum machine exists today that can achieve this; IBM's most advanced processor has just over 1,100 qubits.
- Researchers are investigating if current quantum hardware can break weakened versions of Bitcoin’s encryption.
- Project 11 has offered a bounty of 1 BTC (~$85,000) to anyone who can break small ECC key sizes using a quantum computer.
This research compresses the timeline for potential quantum threats to cryptographic security in the cryptocurrency space.