Bitcoin’s proof-of-work mechanism is reliant on the hashing algorithm SHA-256 to maintain data ... its 105 qubits are far less than the number necessary to breach Bitcoin’s encryption algorithms.

Today's key algorithms include AES-256 for symmetric key encryption, SHA-256 and SHA-3 for hashing functions, RSA public key encryption for digital signatures and key establishment, Elliptic Curve ...

The SHA1 encryption algorithm was recently 'broken' by researchers at Google and CWI Amsterdam. ... which makes use of the more secure SHA256 algorithm, is not directly affected by the discovery.

In a nutshell: Researchers at China's Tsinghua University believe they have discovered a quantum-based algorithm capable of breaking today's most complex encryption standards. The team claims that ...

Quantum computers would need to become about a million times larger than they are today in order to break the algorithm that secures bitcoin, which would put the cryptocurrency at risk from hackers.

RSA and other encryption algorithms have been in use for decades with no known ways for them to be broken. Over the years, that track record has led to confidence that they are safe for use.