AI and Quantum Computing: Threatening Cryptocurrency Security

Concerns are escalating that current security technologies protecting cryptocurrencies could become powerless when artificial intelligence (AI) and quantum computers are combined. Analyses suggest that AI could accelerate the performance advancements of quantum computers, bringing closer the future where quantum computers can solve complex cryptographic decryption in mere seconds—a task that would take supercomputers hundreds of years. This is a key finding from a recent report jointly published by cryptography researchers and blockchain technology developers worldwide.

Previously, it was estimated that it would take at least several decades for quantum computers to hack Bitcoin's Elliptic Curve Digital Signature Algorithm (ECDSA). Recently, AI has been altering these predicted timelines by correcting quantum algorithm errors and improving qubit control performance. AI learns and optimizes quantum physics-based computational models on its own, thereby accelerating development.

This technological convergence could significantly impact the virtual asset market. If quantum computers can reverse-engineer and discover the private keys of the Bitcoin network, all Bitcoin wallets could become vulnerable to hacking. Within the blockchain network, there is no way to prevent Bitcoin theft once private keys are compromised.

Developers are urging a reconsideration of existing digital security methods and the adoption of post-quantum cryptography (PQC) systems. However, due to the nature of the blockchain ecosystem, entangled with millions of nodes and wallets, the process of upgrading the entire network risks confusion and potential hard forks. Stablecoins and decentralized finance (DeFi) services based on smart contracts could become targets for hacking during the transition period for security system overhauls. The synergy between AI and quantum technologies could shake the safety of virtual assets.