Bitcoin private keys could be discovered in 10 years thanks to quantum computers

Quantum computers represent one of the technological advances whose arrival is irreversible, and encryption, including that used to support cryptocurrencies, will soon be in trouble, according to researchers at the National University of Singapore.

They have estimated how soon quantum computers could 'break' the security of the Bitcoin network. Based on the most aggressive estimates, Bitcoin's private keys could be deciphered in 2027, according to the document.

The encryption of Bitcoin today is guaranteed by the difficulty of deciphering its code through the computers we know, however, quantum computers theoretically will be able to work much faster because they are not forced to operate with bits (values ​​from 0 to 1). Quantum computers use qubits, which take advantage of the strange way in which subatomic particles behave to include more values, even up to two values ​​at a time.

According to a report by the MIT Technology Review, researchers used quantum computers in mining groups and to attack private keys. In this way, the study showed that miners are safe longer, unlike users and their private keys.

Rewriting transactions

According to the document, the greatest danger for Bitcoin users will come when the transactions have been transmitted to the network but have not yet been processed. In this way, a hacker with a quantum computer could rewrite the transaction before the legitimate one is approved.

The established transactions will remain secure, at least for a time. However, the researchers say that even a quantum computer could not change the book after the transactions have been processed in several blocks.

If private keys are compromised, not only are bad news for Bitcoin users, but any other encryption of public or private key would be exposed, such as messaging apps such as Whatsapp and Telegram, those that use certificates SSL and encrypted data storage.

However, the researchers acknowledge that this finding will be true as long as there are no changes in the way private keys are created. In addition, they claim that quantum computing could develop more slowly than they have estimated.