I see a lot of folks talking about security worry coming from quantum. Generally I wouldn't too much about security modelling.
Firstly timeline, Going to 13-25 million (the anticipated required amount to crack) is like comparing the Wright brothers' first flight to landing on the moon. The engineering challenges grow exponentially. We have at least a decade, probably two, to prepare properly.
Secondly, mining incentives, Bitcoin miners are protecting trillions of dollars in network value. When quantum computers become a real threat, they'll push for upgrades because it's in their financial interest. Nobody wants to mine a worthless blockchain.
Thirdly, responsibility of tech giants building quantum processors, Just because you can build something doesn't mean you should rush it out without thinking about consequences. Billions of people depend on current encryption systems. The quantum and crypto communities need to work together, not compete. I am sure Google doesn't want to be responsible for crashing a trillion dollar market.
Conclusion We've been through this before. People worried RSA encryption was unbreakable, then they worried it would break too easily. Every time, we figured it out. Quantum computing is a real challenge, but we're already developing solutions. Everyone uses the same encryption. Governments, banks, crypto networks. When everybody has something to lose, you tend to see solutions come together pretty quickly. It's not about if we'll fix this, it's about managing the transition smoothly.
The only concern I'd really have is quantum processing won't be readily available for masses to mine, so I can see bitcoin economy in closer terms becoming more centralised to the few that can afford but we see that transition today where major minors are few.
Today, we’re announcing a major breakthrough that marks a significant step forward in the world of quantum computing. For the first time in history, our teams at
@GoogleQuantumAI demonstrated that a quantum computer can successfully run a verifiable algorithm, 13,000x faster than leading classical supercomputers.
This continues to build momentum on past quantum computing discoveries. Back in 2019, we proved a quantum computer could solve a problem that would take a classical computer thousands of years. Then in 2024, our new Willow chip solved a major issue in quantum error correction that challenged the field for nearly 30 years. Today’s breakthrough moves us closer to quantum computers that can drive discoveries in areas like medicine and materials science.