Quantum Computing

What Is Quantum Computing?

Quantum computing is a revolutionary computing paradigm that leverages quantum mechanical phenomena like superposition and entanglement to process information exponentially faster than classical computers for certain types of mathematical problems.

Unlike traditional computers that use bits representing either 0 or 1, quantum computers use quantum bits (qubits) that can exist in multiple states simultaneously, enabling them to perform complex calculations that would take classical computers thousands of years in potentially hours or minutes.

How Quantum Computing Can Affect Cryptocurrency

Quantum computers pose a significant threat to current cryptocurrency security because they can efficiently solve the mathematical problems that underpin public-key cryptography, including the elliptic curve cryptography used to secure Bitcoin wallets and the RSA encryption protecting many blockchain systems.

Shor’s algorithm running on a sufficiently powerful quantum computer could derive private keys from public keys, enabling attackers to forge digital signatures and steal cryptocurrency, while Grover’s algorithm could weaken hash-based security measures by providing quadratic speedups in brute-force attacks.

Current Threat Timeline

• Today’s quantum computers have hundreds of qubits, but breaking Bitcoin requires millions
• Expert consensus places cryptographically relevant quantum computers 5–10 years away
• Major cryptocurrencies are already researching post-quantum cryptography upgrades
• Recent breakthroughs like Google’s Willow quantum chip demonstrate rapid progress in quantum error correction, but experts estimate practical attacks on cryptocurrency would still require quantum computers vastly exceeding current capabilities

Learn more in our Web3 security threats guide.