This month has been incredibly exciting for enthusiasts closely following the developments in \u00a0quantum computing\u00a0. Xanadu, a young Canadian company founded in 2016, has announced plans to develop a \u00a0photonic quantum computer\u00a0 with one million \u00a0qubits\u00a0 and \u00a0error correction\u00a0 capabilities by 2030. However, Xanadu is not the only company aspiring to achieve this milestone. IBM aims to make ‘Starling’, its first large-scale quantum computer equipped with the ability to mend its own errors, available to clients by 2029.<\/p>\n
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The primary challenge faced by quantum computers regarding \u00a0error correction\u00a0 is \u00a0noise\u00a0, which refers to disturbances that can alter a qubit’s internal state and introduce calculation errors. If error correction is successfully implemented, the current prototypes of quantum computers could leave behind their experimental phase and tackle genuinely significant problems. And it is perhaps likely that the encryption of \u00a0Bitcoin\u00a0 and other cryptocurrencies will falter.<\/p>\n
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Experts in quantum computing have been aware for several years that quantum computers will eventually challenge classical \u00a0cryptography\u00a0. That moment occurred in May 2024, when a research team from Shanghai University in China, led by Professor \u00a0Wang Chao\u00a0, successfully used a D-Wave quantum computer to breach the \u00a0SPN (Substitution-Permutation Network)\u00a0 encryption algorithm, a widely used cryptographic technique.<\/p>\n
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This encryption is the cornerstone of the \u00a0AES (Advanced Encryption Standard)\u00a0, heavily utilized in various sectors. The scientists published their research in an intriguing paper titled, “Cryptographic Attack Algorithm Based on Quantum Processing<\/a>“. However, this isn’t the end of the story. Furthermore, in mid-May, several researchers from Google published a pivotal blog post on the company’s security blog, stating that a \u00a02048-bit RSA (Rivest\u2013Shamir\u2013Adleman)\u00a0 integer can be factored in less than one week using a quantum computer with fewer than a million qubits.<\/p>\n <\/p>\n A 2048-bit RSA integer can be factored in under a week using a quantum computer with less than a million qubits.<\/p>\n<\/p><\/div>\n<\/div>\n Modern cryptocurrencies like \u00a0Bitcoin\u00a0, \u00a0Ethereum\u00a0, and \u00a0Solana\u00a0 employ a cryptographic technique known as \u00a0elliptic curve cryptography\u00a0, which is more robust, efficient, and harder to break than RSA. However, its mathematical foundations are similar to those of the latter encryption algorithm. In light of this, Google scientists assert that if future quantum computers can factor RSA encryption more easily than anticipated, \u00a0elliptic curve cryptography\u00a0 may also fall with relative ease.<\/p>\n <\/p>\n So far, we have focused on cryptocurrencies, but we must not overlook that encryption technologies play a crucial role in our daily lives. Applications include messaging apps like \u00a0WhatsApp\u00a0 and \u00a0Telegram\u00a0, which use encryption to secure our messages; banks rely on encryption to \u00a0protect transactions\u00a0, and online purchases involve encryption to safeguard our credit card information. These are just a few examples of encryption’s vast array of applications.<\/p>\n <\/p>\n \u00a0Keith Martin\u00a0, a professor in the Information Security Group at the University of London, recently published an insightful article in The Conversation<\/a>. He emphasizes that while the threat of quantum computers to encryption technologies is indeed real, there is no need for panic; many researchers have been diligently working on solutions for this challenge. In fact, significant theoretical groundwork has already been laid.<\/p>\n <\/p>\n In 2024, the \u00a0National Institute of Standards and Technology (NIST)\u00a0 in the United States released an initial set of standards that includes a post-quantum key exchange mechanism and several post-quantum digital signature schemes. The progress made so far suggests that when relevant quantum computers appear on the scene, technologies capable of protecting our information will be well-prepared. Moreover, it is likely that these techniques will also be accessible to quantum computers, as asserted by \u00a0Juan Jos\u00e9 Garc\u00eda Ripoll\u00a0, a researcher at the Institute of Fundamental Physics of the \u00a0Spanish National Research Council (CSIC)\u00a0.<\/p>\n <\/p>\n Image | IBM<\/a><\/p>\n