Google’s Quantum AI team, with researchers like Justin Drake and Dan Boneh, published a paper showing a significantly more efficient implementation of Shor’s algorithm that could threaten cryptography used by Bitcoin and Ethereum. The optimized method needs around 1,000 logical qubits (500,000 physical qubits) to solve the elliptic curve discrete logarithm problem, securing ECDSA signatures, and potentially cracking private keys in minutes. Google has set a 2029 deadline for post-quantum cryptography migration and urged blockchains to upgrade quickly to protect against future quantum threats.
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