Quantum Threat Looms Over Cryptocurrency Security

A recent breakthrough in quantum computing has sparked alarm bells for cryptocurrency security experts. Google’s research suggests that breaking the encryption methods currently used by cryptocurrencies, such as RSA and ECC, could be significantly easier than previously anticipated. While Bitcoin currently relies on Elliptic Curve Digital Signature Algorithm (ECDSA), which is vulnerable to Shor’s algorithm, the potential threat of quantum computers disrupting current cryptography cannot be ignored.