It may not be the first time hearing quantum computers will break bitcoin in the future, and there is some truth to this story. In 1994, a mathematician named Peter Shor introduced an algorithm, also known as the Shor’s algorithm, that utilizes quantum superpositioning and quantum entanglement properties to solve the integer factoring problem. While a classical computer can reduce the factoring problem to an order-finding problem, but it cannot solve the order-finding problem due to the nature of the NP-hardness of the problem.
So how do attackers obtain your private key?
Using Shor’s algorithm, one can obtain the private key using the corresponding public key. Once the private key is known to the attacker, an attacker can create a digital signature that is verifiable by the corresponding public key, allowing them to access the user’s account funds. However, this is not a problem during the time of this writing because, in order to use Shor’s algorithm to decrypt the public key, it requires a quantum computer to have roughly about 2300 qubits.
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