A new brief from the Bitcoin Policy Institute argues that recent breakthroughs in quantum computing are accelerating the timeline for when Bitcoin’s cryptography could face credible threats, while stressing that developers are already preparing solutions.

In its report, State of Play: Quantum Computing and Bitcoin’s Path Forward, the Bitcoin Policy Institute points to two research papers released on March 31 by Google and California Institute of Technology that reshape long-standing assumptions about the computing power required to break Bitcoin’s encryption.

For years, estimates suggested that an attacker would need around 10 million qubits to exploit Shor’s algorithm…

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