Breakthrough in Quantum Computing: Google's Willow Chip's Impact on Blockchain

Google's quantum chip Willow can complete calculations in 5 minutes that would take today's fastest supercomputer 10^25 years to accomplish. Although it currently does not pose a direct threat to algorithms like RSA and ECDSA, it has already raised new challenges to the security system of cryptocurrencies, making the quantum resistance migration of Blockchain increasingly important.

Breakthrough Progress of Google's Willow Quantum Computing Chip

On December 10, Google announced the launch of its latest Quantum Computing chip, Willow, marking another significant breakthrough since achieving "quantum supremacy" for the first time in 2019. Willow features 105 qubits and has achieved best-in-class performance in two benchmark tests: quantum error correction and random circuit sampling. In random circuit sampling, Willow completed a computational task in just 5 minutes that would take a supercomputer 10^25 years to accomplish, a timespan that even exceeds the age of the known universe.

A key breakthrough of Willow is achieving an exponential decrease in error rates, bringing them below a certain threshold, which is an important prerequisite for the practicality of Quantum Computing. Hartmut Neven, the head of the research and development team, stated that Willow is the most compelling scalable logical qubit prototype to date, demonstrating the feasibility of large-scale practical Quantum Computing.

Potential Impact on Cryptocurrency

Although Willow's 105 quantum bits are still far from being able to crack the cryptographic algorithms used by cryptocurrencies like Bitcoin, it indicates the direction of development for large-scale practical quantum computing, which poses a potential threat to the security of cryptocurrencies.

Cryptocurrencies like Bitcoin widely use the Elliptic Curve Digital Signature Algorithm ( ECDSA ) and the SHA-256 hash function. Quantum algorithms can theoretically break these algorithms, especially Shor's quantum algorithm, which can completely crack ECDSA with just a million quantum bits. Once an attacker obtains a sufficiently powerful quantum computer, they may derive the private keys from public transaction information, thereby controlling the corresponding cryptocurrency assets.

Although current quantum computers are not yet capable of threatening encryption algorithms in practical use, the emergence of Willow indicates that as quantum computing technology advances rapidly, the security challenges facing cryptocurrencies will become increasingly severe. How to protect the security of cryptocurrencies in the era of quantum computing has become a focal issue of concern for both the technology and finance sectors.

The Importance of Anti-Quantum Blockchain Technology

Faced with the potential threat of Quantum Computing, developing anti-quantum Blockchain technology, especially upgrading existing Blockchains to be anti-quantum, has become particularly urgent. Post-Quantum Cryptography (PQC) is a new type of cryptographic algorithm that can withstand attacks from Quantum Computing, maintaining security even when the quantum era arrives. Migrating Blockchains to an anti-quantum level is not only an exploration at the forefront of technology but also a necessary measure to ensure the long-term security and stability of Blockchain.

Some institutions have made progress in this field, completing the post-quantum cryptography capability building for the full process of Blockchain, developing a cryptographic library that supports multiple NIST standard post-quantum cryptographic algorithms, and addressing the issue of post-quantum signature storage expansion to some extent by optimizing consensus processes and reducing memory read latency. In addition, some institutions have made breakthroughs in the post-quantum migration of rich functional cryptographic algorithms, developing efficient post-quantum distributed threshold signature protocols that overcome some limitations of existing solutions.

With the continuous advancement of Quantum Computing technology, the Blockchain and cryptocurrency industry needs to prepare in advance, actively researching and deploying anti-quantum technologies to ensure security and reliability in the future quantum era. This not only concerns the future of cryptocurrencies but will also impact the long-term development of the entire Blockchain ecosystem.