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Safeguarding cryptocurrency by disclosing quantum vulnerabilities responsibly
Google has been proactively working on post-quantum cryptography since 2016 to address potential threats from future quantum computers. New research suggests that quantum computers could break the elliptic curve cryptography used in cryptocurrencies with fewer resources than previously anticipated. The company aims to raise awareness within the cryptocurrency community, providing recommendations for improved security and stability. Google is advocating for transitioning blockchains to post-quantum cryptography to resist quantum attacks, emphasizing the urgency of this process. To responsibly share their findings, Google developed a zero-knowledge proof method for vulnerability verification, preventing misuse of the information. The researchers share updated estimates about the resources needed to break the cryptography. These estimates concern logical qubits and Toffoli gates required for Shor's algorithm. They analyzed quantum circuits, determining the physical qubit and execution time necessary for the attack. The study recommends implementing post-quantum cryptography, highlighting its importance for long-term cryptocurrency viability. Google's disclosure approach focuses on responsible vulnerability disclosure to balance security needs and public confidence. Their approach includes mitigating fear and using zero-knowledge proofs to allow secure validation of claims. Google aims to support the long-term health of cryptocurrencies and blockchain technologies through collaborative efforts.