Google Paper Warns Crypto on Quantum Risk Ahead of 2029 Timeline - Bloomberg

Google researchers warn cryptocurrency systems face heightened quantum computing risks earlier than the previously estimated 2029 timeline, citing vulnerabilities in current encryption methods. Bitcoin’s Taproot upgrade, designed to enhance privacy, may inadvertently simplify quantum attacks by reducing the computational steps needed to break its cryptographic signatures. The paper emphasizes responsible disclosure of quantum vulnerabilities, urging crypto developers to prioritize post-quantum cryptography before large-scale quantum computers emerge. Researchers highlight that Shor’s algorithm—capable of breaking widely used elliptic curve cryptography—could threaten Bitcoin wallets if quantum advancements accelerate beyond current projections. The findings stress immediate action to audit and upgrade blockchain infrastructure, as even near-term quantum devices might exploit weaknesses in existing cryptographic defenses.