As per the latest, Google has reached Quantum Supremacy. Meaning it could potentially decode an entire blockchain and...
YOUR PRIVATE KEYS...
Blockchains are secured through elliptic curve cryptography (ECC), just like encrypted user data and website traffic. Now the issue is that ECC is NOT "quantum-safe" meaning that a quantum computer could theoretically decrypt a user's private keys and forge transaction signatures.
Is this the end of Crypto?
I don't think so, but I'd love to hear your opinions too! (Especially the opinion of a cryptographer)
source
https://www.coindesk.com/what-googles-quantum-supremacy-means-for-the-future-of-cryptocurrencyQuantum computings biggest rumored ace against bitcoin is its ability to break a blockchain encryption and might expose private keys that could mess up everything in crypto world. But blockchain news keeps on assuring that released versions of quantum computing can't break blockchain. Although existing versions of quantum computing doesn't have the latter ability, crypto space should get ready for one that has the ability to decrypt blockchain. In case that such events occured, that might trigger the official downfall of bitcoin if not a single move to counter the threat will be done.