Quantum computing is an emerging technology that is truly extraordinary. In December 2024, Google launched a new quantum chip named Willow, and it has demonstrated remarkable computational power. Google estimates that its recent advancements in quantum computing performed a computation in under five minutes that would take a supercomputer 10 septillion years to complete.
Google Willow is a chip designed for quantum computing, offering significantly faster and more efficient performance compared to traditional computers. Quantum computing represents a novel approach to computation that uses principles from mathematics and physics to solve highly complex problems in a very short period.
The rise of quantum computing has raised concerns among crypto enthusiasts about the security of Bitcoin and other cryptocurrencies. Experts believe Quantum computers have the potential to break the cryptographic algorithms used by Bitcoin, which could expose private keys and allow unauthorized access to crypto funds held in wallets.
In this article, we will take a closer look at Google Willow and explore various aspects of quantum computing in relation to Bitcoin. If you are a crypto enthusiast, this article will provide valuable insights.
Understanding Quantum Computing
Quantum computing is a field comprising key aspects of computer science, mathematics, and physics that uses quantum mechanics to solve complex problems. In other words, it represents a new approach to computation, using the fundamentals of quantum physics to address extremely difficult problems efficiently. Quantum computers are much faster than traditional computers. It can perform exceptionally complex problems quickly.
To process information quickly, traditional computers use bits. The bit is the basic unit of information in classical computing that is set to either 0 or 1 to process information.
However, Quantum computing uses the advanced version of this, known as qubit or quantum bit. A Qubit is a basic unit of information in quantum computing, analogous to the binary digit in classical computing. While a classical bit only represents either 0 or 1, a qubit can exist in a superposition of both 0 and 1 simultaneously.
This means a qubit can process multiple possibilities at once. When multiple qubits interact, they can become entangled, allowing them to represent an exponentially large number of states simultaneously. This enables quantum computers to perform vast computations in parallel, far surpassing the capabilities of classical computers for certain types of calculations
Understanding Google Willow
Google Willow chip is a new technological advancement in the quantum performance and have several implication of various sectors including cryptography. It is a quantum processor that uses quantum mechanics to improve calculations. Google has disclosed previously that the new willow chip has a 105 qubit count and is based on its 2019 Sycamore processor. This new advancement has a variety of specifications, such as:
- Willow can solve exponentially more complex computations thanks to its 105 qubit count. It is quicker, minimizes the quantum noise and enhances stability.
- Errors are the greatest challenge in quantum computing. Qubits have a tendency to exchange information rapidly with their environment, leading to decoherence, which is a major source of errors in quantum computing. Google’s work with their Willow chip has demonstrated significant progress in maintaining low error rates as the number of qubits increases. Google’s researchers have shown that it is possible to scale up quantum systems while maintaining or even improving error rates, which is a critical step toward making quantum computing more reliable and practical.
- Willow completed a random circuit sampling (RCS) benchmark computation in under five minutes—a task that would take one of the fastest supercomputers an astonishing 10 septillion years, a time span far greater than the age of the universe. This highlights the remarkable computing power of Willow.
Bitcoin’s Current Security Framework
Bitcoin relies on two primary cryptographic algorithms for security:
ECDSA (Elliptic Curve Digital Signature Algorithm): This is used to create and verify the digital signatures that authorize Bitcoin transactions. It’s based on the mathematical complexity of the elliptic curve discrete logarithm problem, which is currently secure against classical computers but vulnerable to quantum attacks using Shor’s algorithm.
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SHA-256 (Secure Hash Algorithm 256-bit): Bitcoin uses this for its proof-of-work mining algorithm and for generating addresses. While SHA-256 is somewhat resistant to quantum attacks, Grover’s algorithm could potentially reduce its security by effectively halving the bit strength.
Potential Vulnerabilities for Bitcoin Security
Quantum computers utilize algorithms such as Grover’s and Shor’s, which can be risky for Bitcoin’s security.
Grover’s algorithm can theoretically make Bitcoin mining faster and easier for the people who have access to quantum computers. This would provide them enormous power over the Bitcoin network. However, while Grover’s algorithm offers a theoretical advantage, practical implementation is challenging due to the need for a large number of qubits and robust quantum error correction.
The second one is Shor’s algorithm, which can break some of Bitcoin’s security such as RSA and elliptic curve cryptography, which are used for digital signatures and message encryption. This could potentially allow quantum computers to steal funds by compromising the security of Bitcoin addresses However, Bitcoin’s core security relies on hash functions (SHA-256) for proof-of-work, which are less vulnerable to Shor’s algorithm.
How Quantum Resistance Works in Cryptography
Quantum-resistant (or post-quantum) cryptography relies on mathematical problems that are believed to be difficult for both classical and quantum computers to solve:
Lattice-based cryptography: Uses the computational difficulty of finding the shortest vector in a high-dimensional lattice.
Hash-based cryptography: This relies on the security of cryptographic hash functions, which even quantum computers can only attack through brute force methods.
Multivariate cryptography: Based on the difficulty of solving systems of multivariate polynomial equations.
Code-based cryptography: Uses error-correcting codes, making it difficult to decode a general linear code without knowing the specific structure.
These approaches avoid the vulnerabilities targeted by Shor’s algorithm, which specifically breaks cryptography based on integer factorization and discrete logarithm problems.
Is Really Willow Or Quantum Computing a Threat to Bitcoin
With the advent of Google’s Willow quantum chip, Bitcoin developers and interested parties are skeptical and cautious about the potential threat to Bitcoin’s security. Although there are still many innovations needed in quantum computing or Google Willow to pose a significant threat to Bitcoin..
Presently, Google Willow does not appear to be an immediate threat to Bitcoin’s security. Willow boasts 105 qubits, which is significantly less than what would be necessary to compromise Bitcoin. Experts estimate that at least 13 million qubits would be required to break Bitcoin’s security, a feat unachievable by Willow at this time.
Moreover, a successful quantum attack necessitates qubits that are error-free and stable over extended periods, which current quantum technologies, including Willow, do not possess.
Most estimates indicate that quantum computing will not pose a threat to the cryptography used in Bitcoin until after 2030. Notably, the National Institute for Standards and Technology (NIST) in the USA recommends migrating to new cryptographic systems by 2035 to mitigate forward secrecy risks, though Bitcoin is less affected by these risks. Bitcoin is not directly impacted by forward secrecy risks, as noted by Ledger’s CTO, Charles Guillemet.
Analysts from Bernstein view the quantum threat to Bitcoin as decades away. IBM’s quantum computing roadmap suggests reaching a few thousand qubits by 2033, which remains far from the millions likely needed to compromise Bitcoin’s cryptography. Despite this, there is an increasing call for serious consideration of this issue due to recent advancements in quantum computing.
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Solution for the Quantum Threat
To prepare for the potential threat posed by the quantum chip (Google Willow) to Bitcoin’s security, Bitcoin wallets can begin utilizing “quantum secure signature schemes.” These advanced designs are intended to safeguard Bitcoin transactions from quantum attacks. However, changing the rules of Bitcoin to officially adopt quantum secure methods, a process known as a soft fork, would take considerable time. A soft fork is a legacy-compatible update to the Bitcoin network that requires consensus among participants for implementation.
Wallet providers can only start implementing quantum secure methods now. This approach would ensure that users’ funds are well-protected before quantum computers pose a real threat. Once quantum computers advance sufficiently to represent a threat, the Bitcoin network can update or modify its rules to require these secure quantum methods. This would involve a soft fork that ensures compatibility with previous systems while enhancing security.
Conclusion
Advancement in quantum computing shows the amazing potential to solve complex problems at lightning-fast speeds. Nevertheless, the present capacity of Google Willow is not enough to break the security of Bitcoin.
However, in the future, this quantum computer can be a threat to Bitcoin and other crypto assets. Bitcoin must change the security rules to prevent attacks from quantum computers. Wallets need to be more secure to combat the attacks from quantum computers.
As of now, Willow and quantum computing do not pose any threat to Bitcoin security, but the digital asset needs to prepare itself with defenses against the latest technologies and algorithms that are being used in quantum computing.
