30s Summary
Chinese researchers have successfully used a D-Wave quantum computer to crack multiple Substitution-Permutation Network (SPN) algorithms, representing a significant breakthrough in quantum computing capabilities. This raises potential security risks for areas protected by RSA encryption such as bank accounts, military secrets, and crypto wallets. Although details of the breakthrough remain limited and verification is needed, the event urges preparation for the advent of powerful quantum computers, and strategies for mitigating potential risks.
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An unsettling report reveals that Chinese researchers have used a D-Wave quantum computer to overcome encryption codes which protect bank accounts, military secrets, and crypto wallets. As reported by the South China Morning Post, this is the first time a fully operational quantum computer has managed to crack multiple SPN (Substitution-Permutation Network) algorithms that are widely used today.
The researchers focused on cracking RSA encryption, one of the oldest and most commonly used methods for securing public keys. More information is needed to assess the extent of the threat posed to cryptocurrencies and blockchain technologies, as details of the research, still not available in English, remain scarce.
If verified and duplicable, the research would be considered a great leap in the evolution of quantum computing. However, skeptics question whether these findings could jeopardize password protection systems in fields like banking and cryptocurrency. To answer this, we would need to know if the scientists were capable of cracking RSA keys as large as those used by banks. Unfortunately, there’s currently no evidence that they were.
The types of D-Wave machines used in Shanghai are sometimes referred to as quantum annealers; essentially, these are precursors to fully-functional quantum computers, limited to performing specialized tasks only. Once universal quantum computers become available, they could pose a real threat to the elliptic curve cryptographic structure currently used by Bitcoin and other cryptocurrencies.
While D-Wave quantum computers aren’t universal quantum computers, they’ve already proven capable of cracking RSA keys. Previous researchers have, however, been quick to highlight that the length of the integer that the Shanghai researchers factorized is significantly shorter than that of real-life RSA integers and as such, extremely unlikely to be able to quickly factorize large RSA integers.
Factoring is a mathematical process where a number can be written as the product of smaller whole numbers. For instance, 12 can be factored as 3 x 2 x 2. Prime number factorization is the cornerstone of decrypting an RSA public key.
Yet with suggestions that the Shanghai research is only significant if they’ve found a way to factorize large numbers, the potential threat to the crypto industry remains uncertain at this point. Some experts believe that systems using symmetric ciphers such as AES-128 (which don’t depend on number factorization) should stay secure.
Despite Ethereum co-founder Vitalik Buterin’s claims that a hard fork could stave off a quantum attack on Ethereum, some experts disagree, believing such a move would complicate matters, necessitate widespread community consensus, and possibly not restore all lost assets or fully regain trust in the network.
What’s clear is that the industry needs to prepare for the advent of powerful quantum computers. This could involve planning a roadmap towards transitioning to post-quantum cryptography and developing safeguards capable of resisting attacks by full-fledged quantum adversaries.
Source: Cointelegraph