Google claims that cracking Bitcoin may require 20 times less quantum resources than previously estimated

According to Decrypt, Google quantum researcher Craig Gidney has published a paper stating that cracking 2048 bit RSA encryption (similar to the encryption principle of Bitcoin wallets) requires 20 times less quantum resources than predicted in 2019. A new study shows that a quantum computer with less than a million noisy qubits can be cracked within a week, previously estimated to require 20 million. This breakthrough is due to algorithm optimization and improved error correction techniques. At present, the most advanced IBM Condor quantum computer has only 1121 qubits and there is no actual threat, but IBM plans to launch a 100000 qubit model by 2033 and Quantinum aims to achieve complete fault tolerance by 2029. The cryptocurrency field has started to develop anti quantum solutions, with Solana developing a quantum vault and Vitalik proposing a fork to address threats. It is worth noting that the quantum research organization Project 11 has set up a prize of $85000 to reward the team that uses quantum computers to crack the simplified version of Bitcoin encryption (25 bit key) to assess the urgency of the threat. The post quantum encryption standard released by the National Institute of Standards and Technology in the United States last year suggests gradually phasing out fragile systems after 2030, and Google research suggests that this timeline may need to be advanced.