Breaking 256-bit Elliptic Curve Encryption with a Quantum Computer
Researchers have calculated the quantum computer size necessary to break 256-bit elliptic curve public-key cryptography:
Finally, we calculate the number of physical qubits required to break the 256-bit elliptic curve encryption of keys in the Bitcoin network within the small available time frame in which it would actually pose a threat to do so. It would require 317 × 106 physical qubits to break the encryption within one hour using the surface code, a code cycle time of 1 μs, a reaction time of 10 μs, and a physical gate error of 10-3. To instead break the encryption within one day, it would require 13 × 106 physical qubits.
In other words: no time soon. Not even remotely soon. IBM’s largest ever superconducting quantum computer is 127 physical qubits.