Google Warns Quantum Could Crack Bitcoin Faster Than Thought | CoinDesk Daily

0:00Quantum threats might be closer than we think, and Charles Hoskinson's Midnight launches main net. This is Coindesque Daily. I'm Jen Senassi. Discover Nexo, the premier digital wealth platform, now in the U.S. Get started today at nexo.com slashcoindesk. In a nearly published white paper, Google's Quantum AI team revealed that cracking the cryptography behind Bitcoin and Ethereum may require fewer than 500,000 physical qubits. The number is drastically lower than the millions that experts in recent years have often cited. Google even designed two potential attack methods that require only 1,200 to 1,450 high quality qubits. The paper warns that quantum attacks could potentially hijack real-time Bitcoin transactions in about 9 minutes, potentially beating confirmation, about 41% of the time, and putting around 6.9 million already exposed Bitcoin at risk. The researchers point out that Bitcoin's taproot upgrade, which makes public keys visible

1:01by default, may widen the pool of vulnerable wallets, prompting Google to urge earlier a post-quantum migration. Cardano founder, Charles Hoskinson, has debuted Midnight, a privacy-focused layer 1 blockchain, that he says will address crypto's core usability and data exposure flaws. Midnight uses a system called selective disclosure, allowing users and businesses to prove things like identity or compliance, without revealing underlying sensitive data like balances or salaries. To get the network off the ground, Hoskinson funded the project himself and distributed tokens to 37 million wallets across eight blockchains in one of the largest air jobs in history. The network's valuation quickly reached $1 billion following the launch. And the U.S. Department of Labor has proposed a new rule that would make it much easier for 401k plans to include alternative assets like crypto and private equity. The proposal is a direct response to an executive order signed by President Trump last August, which directed agencies to expand access to alternative assets for everyday investors. If adopted, the rule would mark a massive shift in how American retirement plans are

2:04built, opening the floodgates for trillions of dollars in 401k capital to potentially flow into the digital asset market. But the proposal is already facing political pushback, Senator Elizabeth Warren issued a statement arguing that as crypto tumbles and private equity returns fall, adding these risky assets into American retirement accounts will only expose workers to losses while enriching large financial firms. That's it for CoinDesk Daily. Get more updates on CoinDesk.com and we'll see you next time. Introducing Nexo, the premier digital wealth platform, earn interest, borrow and exchange crypto all in one platform. Now in the U.S. with 30 days of exclusive benefits, start today at nexo.com slash coin desk. Come on.