Ledger Chief Technology Officer Charles Guillemet said in a post on X that two recent developments in cryptography are raising questions about the long-term security of Bitcoin and other cryptocurrencies. The first involves a theoretically more efficient subexponential-time algorithm for solving the elliptic curve discrete logarithm problem. Guillemet said the method currently applies only to hypothetical curves of extremely large size and does not threaten existing cryptographic schemes in practice. The second concerns major gains in the efficiency of quantum-computing attacks. One study, he noted, estimates that in theory fewer than 30,000 physical cat qubits could break Bitcoin’s secp256k1 cryptography in about an hour. He also said that fault-tolerant quantum computers capable of doing this do not yet exist. The report was cited by U.Today and carried by Techub News.
Ledger Chief Technology Officer Charles Guillemet said in a post on X that two new cryptographic advances are fueling concern over the future security of Bitcoin and other cryptocurrencies.
The first relates to the elliptic curve discrete logarithm problem. Researchers have proposed a theoretically more efficient subexponential-time algorithm, but Guillemet said it currently applies only to hypothetical curves of extremely large size and does not pose a threat to existing schemes.
The second involves quantum computing. According to one research estimate cited by Guillemet, fewer than 30,000 physical cat qubits could theoretically break Bitcoin’s secp256k1 cryptography in about an hour. He added that fault-tolerant quantum computers of this kind do not yet exist.
The item cited U.Today as the source.
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