IonQ published a study outlining a method to break 256-bit elliptic curve encryption. This standard currently secures digital assets such as Bitcoin. The research provides the first end-to-end blueprint for this task using fault-tolerant quantum computers.
A theoretical model estimates a system with 20,000 physical qubits could break the encryption in under 26 days. IonQ targets the development of these capabilities by 2028. The company confirmed this is a research milestone and no active systems were affected.
The study highlights the urgency for industries to transition to post-quantum cryptography. IonQ shared these findings with the U.S. government and industry partners prior to publication.