Google Says Quantum Chip Willow Cut Error Rate 40-Fold, Raising Concerns Over Early Bitcoin Wallets

Google's latest quantum computing chip has delivered a sharp improvement in performance, prompting concern that quantum computers could pose a greater threat to early Bitcoin wallets.

CoinDesk reported on October 17 that Google said its quantum chip, Willow, reduced the error rate in generating specialized quantum states needed for advanced calculations to about one-fortieth of the previous level.

CoinDesk said the improvement lowered one of the technical barriers to cracking Bitcoin wallets.

Some early Bitcoin wallets have had their public keys exposed since the time they were mined, giving attackers ample time to analyze them, the outlet said.

In the experiment, Google increased the accuracy of a technology needed for complex quantum computing operations to 99.99%. Still, the success rate was only about 8%, making practical use difficult for now.

CoinDesk also stressed that the result does not mean the cost of attacking Bitcoin wallets has fallen to one-fortieth of the previous level. A real attack would still require additional advances that allow large-scale quantum operations to be carried out reliably.