Quantum Threat to Bitcoin: Hype vs. Reality
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On April 24, Project Eleven awarded its Q-Day Prize to Giancarlo Lelli for deriving a 15-bit elliptic curve private key from its public key using publicly accessible quantum hardware. This marks the largest public demonstration of an attack class that could theoretically threaten Bitcoin and Ethereum. However, the risk remains minimal for now: the attack targeted a 15-bit key, whereas Bitcoin uses 256-bit keys, which would require millions of qubits to break—far beyond current capabilities. Headlines claiming quantum computers have broken Bitcoin's math are vastly exaggerated. The crypto community should monitor quantum advances but not panic; practical threats are likely years away.
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