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What will be the impact on stock prices of encryption tech companies by end of 2024?
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Chinese Researchers Led by Wang Chao Claim First Quantum Attack on Encryption Using D-Wave
Oct 13, 2024, 11:13 AM
Chinese researchers from Shanghai University, led by Wang Chao, have claimed to execute the first successful quantum attack on widely used encryption algorithms using a D-Wave quantum computer. The reported breakthrough, which was published in a Chinese-language academic journal, poses a significant threat to sectors like banking and the military. The researchers claim to have used the D-Wave Advantage quantum computer to factorize a 50-bit RSA integer and target algorithms such as Present, Gift-64, and Rectangle. This development, reported by SCMP, has raised concerns about the security of current encryption methods and the need for stronger encryption in the face of advancing quantum computing capabilities.
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