Researcher Cracks 15-Bit ECC Key With Quantum Hardware, Claims 1 BTC Bounty
Summary
- CoinDesk reported that independent researcher Giancarlo Relli used public quantum hardware to crack a 15-bit elliptic curve cryptography (ECC) key and collect a 1 BTC bounty.
- The achievement was about 512 times larger than the record set in September last year and is considered the largest publicly disclosed quantum attack demonstration to date.
- Experts said the pace of quantum computing development is moving faster than expected, while the estimated number of physical qubits needed to break 256-bit encryption has fallen below 500,000, making crypto security and future response measures key variables.
Forecast Trend Report by Period
A demonstration of codebreaking using a quantum computer has raised fresh concerns about the pace of the technology’s progress.
CoinDesk reported on April 24 that independent researcher Giancarlo Relli used publicly available quantum hardware to crack a 15-bit elliptic curve cryptography, or ECC, key and claim a 1 BTC bounty offered by Project Eleven.
The feat was about 512 times larger than the previous record set in September last year. It is considered the largest publicly disclosed quantum attack demonstration to date.
Still, the experiment was limited to the 15-bit level and is not seen as posing a direct threat to Bitcoin’s 256-bit security system.
Even so, experts are paying close attention to the speed of progress in quantum attacks. A key concern is that recent estimates for the number of physical qubits needed to break 256-bit encryption have fallen to less than 500,000.
Markets are watching the long-term effect quantum computing could have on crypto security frameworks. The pace of future advances and the response to them remain the key variables.
JH Kim
reporter1@bloomingbit.ioHi, I'm a Bloomingbit reporter, bringing you the latest cryptocurrency news.
