Shor's algorithm

But let's talk more about SHA-256 and what would have to actually crack.

If we go back to my diagram, where you have a private key, which turns to a What we need to be particularly concerned about is what's called Shor's algorithm.

There are two relevant algorithms in the world of the future of quantum computing, and we'll get into both of them.

But if you guys understand just via my diagrams, the actual signing of a transaction is not – SHA-256 is not of concern.

But to be clear, in order to take a public key, and derive its private key, which would break Bitcoin for sure.

Because you'd be able to use the public information that is already out there and derive the really large, really random secret that is associated with it, that gives you the authority to spend the Bitcoins associated with it.

You would need Shor's algorithm.

SHA-256 is not, you know, notice what this attack doesn't touch.

So here's the thing.

When I say Shor's algorithm, what I'm saying is Shor's algorithm-ish.

Okay.

But nonetheless, this is a quantum simulator doing the exact steps.

It's just it would not allow me to make a Shor's algorithm tool.

Okay.

Gotcha.

And we also saw if we did that for too long, we'd actually go off the rails.

and the taproot format from 2021 shows a key by design, add them up and estimates land around six to 6.5 million Bitcoin, roughly a third of everything mined.

Why does a visible public key matter? Because a large enough quantum computer running something called Shor's algorithm could run that math backwards and work out the private key.

So how close is anyone to building it? In March, Google's quantum team estimated the attack would need about 1200 to 1450 error corrected qubits, which are the units a quantum computer calculates with.

That is about 20 times fewer than estimates from 2019.

Yes.

Well, w- can you dequantize, um, Shor's algorithm or Grover's algorithm?

Yeah.

They're at the top of the list of being like, "No-

Okay.

But I can absolutely respect that using a quantum simulator...

W- why would you use a quantum simulator for Grover's algorithm, Shor's algorithm? Number one reason would be preparing for when a real quantum computer comes.

Yeah.

But I'm hoping we emerge from that by the end of the decade.

And when Shor's in our rearview mirror, which is kind of almost hard to imagine because it's been overshadowing and forcing the money into this system for so long, then the ability for quantum to do things that no other system can do will kind of shine at that point.

Two points I want to make on that, Patrick.

So number one, I will say that I wouldn't categorize that we are getting advantage from Quantum Inspired.

And that kind of AI agentic thought process, I think is going to be very powerful in helping companies like us who are developing those algorithms and need to do this manually.

You know, I've been doing this manually for five years, like every test in it.

But if there's things that could help move us forward, we would be sitting with not just Shor's algorithm, but many mature algorithm that will become.

You move up the food chain basically and get out of the grunt work.