This is a topic for years and everyone's making a claim that they will crack down sha-256 but until now, it's still secure and here's a good explanation:
[quote link=https://x.com/FreemanProtocol/status/1866278844111659504]
Google Willow Quantum vs Bitcoin Encryption
Today, Google announced that Willow has reached 105 qubits with improved error rates. Should Bitcoiners worry?
🚫 Short Answer: No.
🔒 Bitcoin relies on two types of encryption:
1️⃣ ECDSA 256: Vulnerable to "Shor’s algorithm," but cracking it would require over 1,000,000 qubits. Willow’s 105 isn’t even close.
2️⃣ SHA-256: Even tougher—requires a different approach (Grover’s algorithm) and millions of physical qubits to pose a real threat.
Bitcoin’s cryptography remains SAFU... for now.
[/quote]
SHA-256 is very strong. It's not like the incremental step from MD5 to SHA1. It can last several decades unless there's some massive breakthrough attack.
If SHA-256 became completely broken, I think we could come to some agreement about what the honest block chain was before the trouble started, lock that in and continue from there with a new hash function.
If the hash breakdown came gradually, we could transition to a new hash in an orderly way. The software would be programmed to start using a new hash after a certain block number. Everyone would have to upgrade by that time. The software could save the new hash of all the old blocks to make sure a different block with the same old hash can't be used.
SHA-256 is very strong. It's not like the incremental step from MD5 to SHA1. It can last several decades unless there's some massive breakthrough attack.
If SHA-256 became completely broken, I think we could come to some agreement about what the honest block chain was before the trouble started, lock that in and continue from there with a new hash function.
If the hash breakdown came gradually, we could transition to a new hash in an orderly way. The software would be programmed to start using a new hash after a certain block number. Everyone would have to upgrade by that time. The software could save the new hash of all the old blocks to make sure a different block with the same old hash can't be used.
Quantum computers are real in theory, but the way people talk about them feels like we're already living in a sci-fi movie.