A report that Chinese researchers have employed a D-Wave quantum computers 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. However, if and when universal quantum computers do emerge. Some worry they could threaten the elliptic curve cryptographic structure that has served Bitcoin
BTC tickers down $67,037 and other cryptocurrencies very well until now.
It could only be a matter of time before quantum computers are able to identify the enormous prime numbers that are key constituents of a Bitcoin private key
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