Bitcoin’s private keys won’t be breached any time soon, but the industry still needs to transition to “post-quantum cryptography.”
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A report that Chinese researchers have employed a D-Wave quantum computer to breach encryption algorithms used to secure bank accounts, top-secret military data and crypto wallets is, at first glance, a matter of deep concern.
“This is the first time that a real quantum computer has posed a real and substantial threat to multiple full-scale SPN [substitution-permutation network] structured algorithms in use today,” wrote Shanghai University scientists in a peer-reviewed paper, according to an Oct. 11 report in the South China Morning Post (SCMP).
The paper talks about breaking RSA (Rivest-Shamir-Adleman) encryption, one of the oldest and most widely used public-key cryptosystems.
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