Quantum Threat Looms: Researchers Cut Estimated Resources Needed to Break Bitcoin and Ethereum Encryption

Researchers have made significant progress in optimizing the Shor algorithm for quantum computing, which could potentially compromise Bitcoin and Ethereum's security. According to a recent study published by the Ethereum Foundation, Theta Labs, and StarkWare, the estimated computational resources required to break the encryption of both cryptocurrencies has been reduced by half within two months.

The researchers used AI tools to optimize the algorithm, specifically focusing on the secp256k1 elliptic curve repeated point addition. This achievement is notable because it demonstrates the rapid progress being made in quantum computing, which could ultimately lead to a real-world attack on cryptocurrency security.

Currently, no single machine can perform this feat, but the researchers warn that the threat is becoming increasingly real. They emphasize the need for urgent action to prevent a potential breach, pointing out that the solution may take years to implement and cannot be applied retroactively.