A Paris-based quantum computing company has projected that around 30,000 physical qubits could potentially decipher Bitcoin wallet encryption in just over an hour.

The estimated capacity required for a computer to break Bitcoin’s cryptography has significantly decreased.

Researchers from the firm Alice & Bob in Paris have determined that a machine equipped with approximately 30,000 physical qubits could extract a Bitcoin private key from its public counterpart in a little over an hour. They urge Bitcoin developers to initiate the transition to quantum-resistant security measures promptly, as the implementation process could span several years.