The shadow of quantum computing now looms over the world of cryptos. While Chinese researchers have reportedly taken a key step forward through the use of a quantum computer to bypass traditional encryption systems, a crucial question arises: is the security of Bitcoin and other cryptos really threatened? Quantum computers, capable of performing calculations that no classical machine could solve, are seen by some as a sword of Damocles hanging over current encryption protocols.
The advances of Chinese researchers and the potential threat
Work carried out by researchers at Shanghai University has sparked a wave of concern in the crypto sector. According to a report relayed by the South China Morning Post on October 11, these researchers have succeeded, thanks to a D-Wave quantum computer, in bypassing several sophisticated encryption algorithms, used in particular to secure bank accounts and crypto wallets. This breakthrough, described as a “real and substantial threat” by university scientists, is the first time that a quantum computer tackles complete encryption systems at scale.
However, several experts, including Massimiliano Sala, professor at the University of Trento, are calling for caution. They point out that the results of the study remain vague, particularly regarding the size of the allegedly broken RSA keys. “There is no evidence that these researchers have succeeded in breaking keys the size of those currently used by banks,” Sala explains. If this were the case, it would represent a major shake-up for the crypto industry.
The True State of the Quantum Threat to Bitcoin
Although the Shanghai work poses a legitimate question about the future of encryption system security, it is essential to understand that the quantum computers used to date, like D-Wave, are not general-purpose machines capable of massively breaking keys in the crypto field. Takaya Miyano, a professor at Ritsumeikan University in Japan, says the Chinese researchers only factored a 22-bit integer, a far cry from the 1,024 or 2,048 bits used in modern RSA systems. “D-Wave is a quantum simulator, designed to solve specific optimization problems, but it is not yet capable of quickly decomposing large RSA numbers in the real world,” explains Miyano.
This means that, for now, the private keys of Bitcoin and other cryptos are safe. However, this advance in quantum computing should not be ignored. Vitalik Buterin, co-founder of Ethereum, has already mentioned the idea of a “hard fork” to respond to a possible quantum attack. “We are already well positioned to launch an update in the event of a threat,” he said. However, many experts, such as Samuel Mugel, CTO of Multiverse Computing, believe that such a fork would be complex and would require broad consensus within the community.
Ultimately, the threat posed by quantum computing to Bitcoin and blockchain should be monitored closely, but does not yet constitute an immediate emergency. Chinese researchers have taken an important step forward, but current encryption systems remain robust against the limited capabilities of today's quantum computers. However, the industry will have to prepare for a future where more powerful machines could emerge. The adoption of post-quantum encryption is becoming a necessity to protect the crypto ecosystem and ensure its resilience in the face of tomorrow's technological threats.
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