Cryptographers place $5,000 bet whether quantum will matter
Briefly

Cryptographers place $5,000 bet whether quantum will matter
"Quantum computing exists in a sort of superposition with regard to cryptography - it's both a pending threat and a technology of no immediate consequence for decryption."
"Last year, Peter Gutmann... dismissed PQC... He noted that quantum computers have yet to factor the number 35 (6 bits) due to their inability to correct errors."
"Google said it revised its estimates for the quantum computing resources required to solve the logarithm problem... Running Shor's algorithm... would take about 20 times fewer physical qubits than previously estimated."
"NIST wants quantum-vulnerable algorithms ousted by 2035. No one is certain whether that's a reasonable estimate, though security vendors insist the quantum threat is nigh."
Quantum computing presents both a threat and a non-immediate concern for cryptography. The US National Institute of Standards and Technology has been advocating for Post-Quantum Cryptography due to fears that quantum computers will eventually decrypt legacy algorithms. Skepticism exists regarding the timeline for quantum advancements, as demonstrated by Peter Gutmann's comments on current quantum capabilities. However, Google has revised its estimates for the resources needed to tackle elliptic curve cryptography, suggesting that the quantum threat may require more immediate attention than previously thought.
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