Google recently announced new progress in quantum computing, once again raising concerns about the future security of crypto assets such as Bitcoin and Ethereum.

Google CEO Sundar Pichai stated that Google's team has made a breakthrough in what is known as "magic state cultivation" on their quantum computer.

Research results published in the scientific journal Science show that compared to preparing quantum states without using the new method, the error rate was reduced by 40 times.

In addition, the team has achieved a record logical fidelity of 99.99% on a specialized quantum state known as the T-state.

Google says that this breakthrough is an important step towards building high-power, error-correcting quantum computers, which will be capable of performing tasks that current computers cannot accomplish.

Google claims that this breakthrough solves a major challenge in quantum computing, namely the huge resource consumption required to generate reliable quantum states.

What does this mean for cryptocurrencies?

This news has once again raised concerns that quantum computing may pose a threat to the security of blockchain.

Many mainstream cryptocurrencies, such as Bitcoin and Ethereum, use elliptic curve cryptography to protect transactions and verify digital signatures.

If sufficiently powerful quantum computers emerge in the future, it is theoretically possible for them to crack these encryption measures.

However, this new breakthrough by Google does not mean that current cryptocurrencies are immediately at risk.

This tech giant has not yet demonstrated this method at the scale of practical applications required for large-scale quantum computing.

Nevertheless, this progress has made one of the most difficult steps required to build a quantum computer capable of cracking cryptocurrencies much easier.

In other words, the most difficult step in building a quantum computer that could crack cryptocurrencies is now easier to achieve.