"BREAKING: Chinese quantum computer just cracked multiple SPN algorithms. This is way bigger than cracking the ENIGMA code. The future of encryption is at stake" 🤯
If they did this, comparatively how far are they from cracking SHA-256?
https://x.com/wmhuo168/status/1845117383154729397
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Discussion
“Even if quantum computing posed a threat to the cryptographic layer, Bitcoin’s decentralized and global network of nodes would play a critical role in driving a transition to quantum-resistant algorithms—an advantage centralized systems simply do not have.”
What transition? We have nothing ready. If someone proved they could use quantum computing moving coins they never had a key to, like Satoshi’s coins, price of Bitcoin would fall 99.99% within a week. If we not gonna have a procedure ready, for quantum attack, Bitcoin will die following such attack. People wouldn’t trust it ever again.