Google’s introducing a 2029 timeline to secure the quantum era with post-quantum cryptography (PQC) migration.
Apparently it's not just the Satoshi stash that vulnerable, but up to 25% of all BTC's ever minted. Everything associated with a private key that predates the current practice of generating a new key for each transaction.So, someone may be able to claim Satoshi's BTC stash by 2030? That's gonna be a day.
It's their internal goal. They don't say when they expect quantum computers to become a risk to traditional encryption.Does this mean Google expect someone to use a quantum computer to crack keys in 2029? Or that 2029 is their deadline to finish the changeover, and a crack isn't expected until later? I've read the article and the linked post and I can read it either way, but it sounds like the latter to me, but I'm really not sure.
Did you read the source blog post from Google? Does that read like a market manipulation strategy to you?Any time I read a story like this now, I wonder "is this prediction real, or is it an attempt to manipulate either the stock price or the prediction markets?"
I take no position on the question as you put it--I don't feel remotely qualified--but it's remarkable to think back to how much trust we used to put in Google as an organization, circa 2005 or whatever. Back then, I would have found your question insane. They're the good guys!Any time I read a story like this now, I wonder "is this prediction real, or is it an attempt to manipulate either the stock price or the prediction markets?"
I'd assume active accounts will migrate their holdings to safe wallets, but duly noted it's not only the 1 million of Satoshi coins that may be affected as there will be people who forget to migrate, or died without a plan to transfer those assets, or any of the many ways BTC can end up "lost", including those from the guy who wanted to dig up a trash dump in search of a hard drive and even had venture capital secured to fund the search.Apparently it's not just the Satoshi stash that vulnerable, but up to 25% of all BTC's ever minted. Everything associated with a private key that predates the current practice of generating a new key for each transaction.
Google has a quantum computing division. Implying they're close to some kind of breakthrough could absolutely juice their stock.Did you read the source blog post from Google? Does that read like a market manipulation strategy to you?
My money is the big names in crypto collude on the dormant coin issue in a way that enriches themselves. They are kind of damned if they do, damned if they don't.Apparently it's not just the Satoshi stash that vulnerable, but up to 25% of all BTC's ever minted. Everything associated with a private key that predates the current practice of generating a new key for each transaction.
I would assume the US Gov't will get it before anyone else. They'll pay, a lot, to beat every other state actor.Google has a quantum computing division. Implying they're close to some kind of breakthrough could absolutely juice their stock.
Yes. They'll pay a lot...to some lucky contractor that has hinted they're near a breakthrough.I would assume the US Gov't will get it before anyone else. They'll pay, a lot, to beat every other state actor.
Maybe, but they actually explain the point in worrying now: Store-now-decrypt-later attacks can only really be mitigated by migrating systems to PQC. The sooner you do that, the smaller your data vulnerability surface is (in a timewise sense). If you get compromised in the future and your encrypted data gets exfiltrated, you're much better off if that data was protected with PQC. Your future vulnerability without PQC is by definition shorter if you implement now rather than later.Google has a quantum computing division. Implying they're close to some kind of breakthrough could absolutely juice their stock.
Yet again - read the bloody source. There doesn't seem any implication there about some kind of breakthrough - this is media spin about a perfectly rational precaution to a potential threat.Google has a quantum computing division. Implying they're close to some kind of breakthrough could absolutely juice their stock.
Depends on how their regulatory agency prioritizes it and what their audits report. And what their board of directors choose to risk accept.Awesome, can't wait for none of the services I use to update their encryption methods (especially looking at you, local credit union).
Is it a checkbox I can enable on windows server? On the SFTP servers we run that have their own cipher suites? Is this something godaddy lets me check off for my wildcard certificate? Does Veeam offer this for their encrypted backups of VMs? Does my firewall’s VPN offer this as a protocol that can connect to my azure environment?We started offering PQC a year or so back. I rarely get more than slight interest from customers even though it’s fairly trivial to implement. There’s no cost to them for it either. This is something that needs more airtime to get IT layman and security folks more interested. Announcements like this help bring the topic into the conversation. I’d think that having your data-at-rest encrypted using PQC would make your company a less enticing target for nation state attackers willing to invest in longterm plans.
Can they just be damned regardless?My money is the big names in crypto collude on the dormant coin issue in a way that enriches themselves. They are kind of damned if they do, damned if they don't.
Oh I've heard the horrors on what underlies our financial institutions, probably from commenters on this very site! Archaic COBOLian texts, decipherable by only the grayest beards, or something like that. Is there an easy way for us laymen to even get an understanding of what service our banks might be using? Or any way to know they are keeping our info stored properly? AFAIK it's all just built on "trust us".Depends on how their regulatory agency prioritizes it and what their audits report. And what their board of directors choose to risk accept.
It’s funny because credit unions have more money than banks (two separate entities, CUs pay less taxes and more and more offer the same services as banks with less “membership” requirements) but all that goes to salaries not infrastructure improvements.
Also, you’d be disheartened how wonky the financial cores and providers are, technologically, especially the Federal Reserve that we all have to interact with. Hell, the CU might just be using some other provider’s solution and has no direct control over what that provider offers.
Source: financial IT for like 2 decades and counting…
Right. Suggesting that the entire Internet could blow up in 2029 is clearly good for Google stock.Google has a quantum computing division. Implying they're close to some kind of breakthrough could absolutely juice their stock.
There won't be much of a performance hit for PCs - the keys and signatures are all much bigger, and there is a processing overhead, but not anything that would cause even a 15 year old PC to struggle. Also, it's only the SSL handshake that's affected - certificate verification and key exchange. Data streaming won't be affected because that uses AES, which is still good against quantum (though to be on the safe side use 256 bit keys).As someone who continues to use a lot of older—but still technically supported—machines, I'm curious if support for these new encryption methods will require some kind of hardware acceleration block to use? Like, will performance be so terrible or not even possible on a computer from ≥10yrs ago?
The US Federal government set January 2, 2030 as the date for PQ readiness for all Federal information systems and suppliers of said systems. This date was set by executive order by the previous administration, and was repeated unaltered by the current administration. While the exact determination of why that date was chosen is unknown, there are a lot of factors that may have contributed to it.Does this mean Google expect someone to use a quantum computer to crack keys in 2029? Or that 2029 is their deadline to finish the changeover, and a crack isn't expected until later? I've read the article and the linked post and I can read it either way, but it sounds like the latter to me, but I'm really not sure.
The Google blog post says (emphasis mine):
It doesn't mention an estimate for Q day.
Edit to add quote.
Many machines, especially memory or processor constrained IoT devices such as cameras, simply cannot be upgraded. The PQ keys are often too big to fit in the flash memory available.As someone who continues to use a lot of older—but still technically supported—machines, I'm curious if support for these new encryption methods will require some kind of hardware acceleration block to use? Like, will performance be so terrible or not even possible on a computer from ≥10yrs ago?
Just as a side note because I think it's important.We started offering PQC a year or so back. I rarely get more than slight interest from customers even though it’s fairly trivial to implement. There’s no cost to them for it either. This is something that needs more airtime to get IT layman and security folks more interested. Announcements like this help bring the topic into the conversation. I’d think that having your data-at-rest encrypted using PQC would make your company a less enticing target for nation state attackers willing to invest in longterm plans.
In my experience it mostly goes to better rates. The CUs I've been a member of had lower fees and better rates than banks I used, and about the same level of IT infrastructure. What they don't have are the massive national ad campaigns.It’s funny because credit unions have more money than banks (two separate entities, CUs pay less taxes and more and more offer the same services as banks with less “membership” requirements) but all that goes to salaries not infrastructure improvements.
Investors don't care about old lines of business anymore, only the newest buzzwords. If they can somehow work "AI" into this alongside "quantum" they'll really be cooking.Right. Suggesting that the entire Internet could blow up in 2029 is clearly good for Google stock.
It took about a decade for CPU's to go from 5K to 1M transistors. Quantum seems a lot harder, but roughly a decade isn't long, and as others have said that 1M number is potentially not done coming down too.Dumb media spin aside, if we take the 1 million figure as given, current state of the art is at 5k, so "are we there yet".
Quantum scales much better than exponentially, but not quite as good as a purely linear function of qubit or quantum gate count. So if it will take 10k qubits to crack a 1024 bit key in some amount of time, it may take 40k-80k qubits to crack a 2048 bit key in a similar amount of time. Or instead of a day it may take over a year* to crack a 2048 bit key using the same 10k qubit computer."elliptic curves and RSA, both of which will be broken"
What does that actually mean exactly? If I can crack an n-bit RSA key today at a cost of C, how large an RSA key (likely much more than n bits) could I crack using a quantum computer at the same cost C
?
Oh, it'll happen all right, just the media spin of 2029 seems daft. From what I found out, the current processors tap out after 100-odd qubits so they have to network many of those as things are now to get to thousands of useable qubits and it seems the scope for parallel connections is fairly limited at the moment.It took about a decade for CPU's to go from 5K to 1M transistors. Quantum seems a lot harder, but roughly a decade isn't long, and as others have said that 1M number is potentially not done coming down too.