New Willow Quantum Computing Chip Not Yet A Threat To Crypto, Says Former Google Product Manager
Release: 2024/12/10 17:24 Reading: 806
Google’s new Willow quantum computing chip is still far from being a threat to cryptocurrencies and their underlying encryption, says tech entrepreneur and former senior product manager at Google, Kevin Rose.
“Estimates indicate that compromising Bitcoin’s encryption would necessitate a quantum computer with approximately 13 million qubits to achieve decryption within a 24-hour period,” Rose said in a Dec. 10 X post. While noting that Willow is a “significant advancement,” he said that the chip only comprises 105 qubits currently.
“We have a ways to go,” he said.
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Google’s Quantum AI team said Willow can solve a computational problem, which would take around 10 septillion years to solve on the best quantum computers, in less than 5 minutes. The chip is also capable of exponentially correcting errors and processing certain computations at “mind-boggling” pace, according to Google’s Quantum AI lead Hartmut Neven.
“This mind-boggling number exceeds known timescales in physics and vastly exceeds the age of the universe,” Neven said in a Dec. 9 blog post.
Experts Call For Post-Quantum Cryptography And Encryption To “Get Moving” In the Web3 Space
Lightspark CEO David Marcus said in a Dec. 9 X post that most people don’t “fully understand the significance” of Google’s latest breakthrough.
I don’t think most people fully understand the significance of this breakthrough. https://t.co/8HF5LByg8v
— David Marcus (@davidmarcus) December 9, 2024
Commenting underneath the post, Marcus said that Google’s breakthrough means that post-quantum cryptography and encryption “needs to get moving” in the Web3 space in order for blockchains to remain secure.
However, Ethereum co-founder Vitalik Buterin is not too concerned with quantum technology, and has already proposed a solution back in March to make Ethereum quantum-resistant.
According to Buterin, a hard fork could subvert the issue. Users will also have to download new wallet software, but he doesn’t think too many people would lose their funds.
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