Is the Clock Ticking for Crypto Encryption?

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The new quantum computing chip developed by Google's Quantum AI team can solve a computational problem in less than five minutes. This challenge is the same as one that would take ten septillion years for one of the top supercomputers to solve.

The Willow chip can process some calculations at an incredible speed and rectify errors exponentially. Google's Quantum AI lead, Hartmut Neven, stated: "This mind-boggling number exceeds known timescales in physics and vastly exceeds the age of the universe."

Quantum computing developments have long been viewed as a turning point for the cryptocurrency sector. Computers that can crack encryption could make user money quickly and in big quantities vulnerable to thieves.

In a statement to X on December 9, tech entrepreneur and former Google senior product manager Kevin Rose stated that Willow was still far from posing a threat to cryptocurrency.

Rose thinks that in order to decrypt Bitcoin in a day, a quantum computer with roughly 13 million qubits would be needed to compromise its encryption.

"In contrast, Google's Willow chip, while a significant advancement, comprises 105 qubits," he said.

An interesting thought to go home with is what will crypto look like post quantum computing, and how can it change the space should it ever crack Bitcoin's algorithms and encryption. Could it spell the end for cryptocurrency or a new market of cryptocurrency?

Disclaimer: This article is for informational and educational purposes only and should not be considered financial advice. Cryptocurrency investments involve risk, and you should conduct your own research or consult a qualified financial professional before making any investment decisions. AFRIDAX does not guarantee any returns, and past performance is not indicative of future results.