Bitcoin
US Department of Energy Launches $215 Million Quantum Computing Competition
A new United States initiative to develop fault-tolerant quantum computers has renewed attention on long-term cryptographic security risks facing Bitcoin.
The United States Department of Energy has introduced the Quantum Genesis Q Competition, committing up to $215 million to encourage private firms to build fault-tolerant quantum computers. The initiative targets machines equipped with at least 100 logical qubits capable of hundreds of millions of reliable operations, with broader program deployment planned for 2028.
While existing quantum machines suffer from high error rates during complex calculations, fault-tolerant architectures use error correction to maintain computational reliability. The development poses potential long-term risks to Bitcoin's underlying elliptic-curve cryptography, which could theoretically be compromised using Shor's algorithm to derive private keys from exposed public keys.
Researchers from Google estimate that breaking Bitcoin's 256-bit system would require between 1,200 and 1,450 logical qubits, well above the Department of Energy's initial 100-qubit target. However, Glassnode data from May indicated that roughly 6.04 million BTC, representing 30.2% of the circulating supply, resided in addresses with visible public keys on-chain. In response to potential future exposure, Bitcoin developers are exploring defenses such as draft proposals BIP 360 and BIP 361.
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