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Quantum computers may soon breach blockchain cryptography: Report

Published 01/05/2023, 02:45 PM
Updated 01/05/2023, 04:20 PM

According to a recent paper, Chinese researchers claimed to have discovered a novel method to break the Rivest–Shamir–Adleman 2048 bit (RSA-2048) signing algorithm present in blockchains and other security protocols. RSA is a cryptographic technique that utilizes a public key to encrypt information and a private key to decrypt them.

Breaching the RSA-2048 algorithm requires, similar to other algorithms in the RSA numbers family, finding the prime factors of a number with 617 decimal digits and 2048 binary digits. Experts estimate that it would take ordinary computers 300 trillion years to break an RSA-2048 encryption key. However, Chinese researchers said in their paper that the encryption could be inversed with a quantum computer with 372 qubits, or a basic unit of information acting as a proxy for computation power.

Comparison of classical vs quantum computing | Source: Towards Data Science.

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