Ethereum accelerates quantum computing response with 2029 target

The need for quantum-resistant security in the crypto industry is growing after Google's Quantum AI research team published findings that lowered the estimated computing power needed to break Ethereum's account security by a factor of twenty, BeInCrypto reported. While it was previously estimated that tens of thousands of logical qubits would be required to crack the Elliptic Curve Digital Signature Algorithm (ECDSA) protecting Ethereum accounts, a paper from Google in March suggested it could be possible with only around 1,200. Based on this, Google has reportedly set a 2029 target to transition its own systems to quantum-resistant cryptography. Ethereum uses ECDSA for all transaction verification, which exposes a user's public key on-chain. A sufficiently powerful quantum computer could reverse-engineer the private key from this public key to steal assets. The Ethereum Foundation is now targeting a transition to a quantum-resistant protocol by 2029. However, most other major blockchains that use the same ECDSA-based structure, including Bitcoin and Solana, have not yet disclosed similar response plans.