Google has announced the development of a new quantum computing chip that can perform calculations in minutes that would take traditional supercomputers an impractical amount of time. However, the chip is still far from being able to crack the Bitcoin network, as it only has 105 qubits compared to the several million qubits needed. While the potential threat of quantum computers to break cryptographic keys and dominate mining exists, the blockchain industry is actively working on quantum-resistant solutions. The Bitcoin network is currently the world's most secure computing network and has never been hacked. Ethereum co-founder Vitalik Buterin has emphasized the importance of semiprime factorization capabilities in determining the practical limit of breaking RSA encryption, which is relevant to blockchain security. Buterin has discussed the concept of "quantum resistance" and believes that there are replacements for cryptographic algorithms that quantum computers cannot break.
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