“Google quantum computer does not threaten bitcoin”

Peter Todd, a cryptographer and Bitcoin Core developer, said Google’s quantum computer does not threaten the cryptographic algorithms on which Bitcoin is based.

The Financial Times recently reported
that Google developed a quantum computer in just 3 minutes 20 seconds to solve an equation that would have taken a traditional computer for thousands of years.

But Peter Todd emphasized that the current level of development in quantum computers does not threaten cryptocurrencies and bitcoin.

“This does not mean anything, because Google’s breakthrough belongs to the simplest quantum computing, and here we are not even talking about breaking cryptographic algorithms. We still have not mastered even such a thing as scaling quantum computers. Perhaps the addition of new qubits will lead to an exponential increase in value, ”- declared
Todd during a discussion on Twitter.

Recently it became known that the US National Security Agency (NSA) plans to create a quantum-resistant cryptotechnology. The objectives of the project are currently unknown.