Chinese Researchers Reportedly Crack Encryption Algorithms Using Quantum Computer
Ruholamin Haqshanas is a contributing crypto writer for CryptoNews. He is a crypto and finance journalist with over four years of experience. Ruholamin has been featured in several high-profile crypto...
Chinese researchers have claimed a significant breakthrough in the realm of encryption, stating that they have managed to crack algorithms commonly used in banking and cryptocurrency.
The team, led by Wang Chao from Shanghai University, utilized a quantum computer to breach these encryption methods.
According to the South China Morning Post, the quantum computer was developed by Canada’s D-Wave Systems, and the attack was carried out using a technique known as quantum annealing.
Quantum annealing, the method employed by the researchers, focuses on finding the lowest energy state, which allows for more efficient problem-solving.
The team reportedly targeted encryption algorithms such as Present, Gift-64, and Rectangle, which are key components of the Substitution-Permutation Network (SPN) structure.
The structure forms the backbone of the Advanced Encryption Standard (AES), a widely used method for securing cryptocurrency wallets.
While AES-256 is considered one of the most secure encryption standards available, this development has raised concerns about the potential threat posed by quantum computing to current encryption protocols.
The researchers’ breakthrough suggests that quantum computers could soon pose a real danger to the security of encrypted information, including passwords and private keys.
Wang’s research paper explained that quantum annealing functions similarly to artificial intelligence algorithms, optimizing solutions on a global scale.
Unlike traditional algorithms that test every possible pathway, quantum
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