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Paper 1

Securing Elliptic Curve Cryptocurrencies against Quantum Vulnerabilities: Resource Estimates and Mitigations

Ryan Babbush, Adam Zalcman, Craig Gidney, Michael Broughton, Tanuj Khattar, Hartmut Neven, Thiago Bergamaschi, Justin Drake, Dan Boneh

Year

2026

Journal

arXiv preprint

DOI

arXiv:2603.28846

arXiv

2603.28846

This whitepaper seeks to elucidate implications that the capabilities of developing quantum architectures have on blockchain vulnerabilities and mitigation strategies. First, we provide new resource estimates for breaking the 256-bit Elliptic Curve Discrete Logarithm Problem, the core of modern blockchain cryptography. We demonstrate that Shor's algorithm for this problem can execute with either <1200 logical qubits and <90 million Toffoli gates or <1450 logical qubits and <70 million Toffoli gates. In the interest of responsible disclosure, we use a zero-knowledge proof to validate these results without disclosing attack vectors. On superconducting architectures with 1e-3 physical error rates and planar connectivity, those circuits can execute in minutes using fewer than half a million physical qubits. We introduce a critical distinction between fast-clock (such as superconducting and photonic) and slow-clock (such as neutral atom and ion trap) architectures. Our analysis reveals that the first fast-clock CRQCs would enable on-spend attacks on public mempool transactions of some cryptocurrencies. We survey major cryptocurrency vulnerabilities through this lens, identifying systemic risks associated with advanced features in some blockchains such as smart contracts, Proof-of-Stake consensus, and Data Availability Sampling, as well as the enduring concern of abandoned assets. We argue that technical solutions would benefit from accompanying public policy and discuss various frameworks of digital salvage to regulate the recovery or destruction of dormant assets while preventing adversarial seizure. We also discuss implications for other digital assets and tokenization as well as challenges and successful examples of the ongoing transition to Post-Quantum Cryptography (PQC). Finally, we urge all vulnerable cryptocurrency communities to join the ongoing migration to PQC without delay.

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Paper 2

Tradeoffs on the volume of fault-tolerant circuits

Anirudh Krishna, Gilles Zémor

Year

2025

Journal

arXiv preprint

DOI

arXiv:2510.03057

arXiv

2510.03057

Dating back to the seminal work of von Neumann [von Neumann, Automata Studies, 1956], it is known that error correcting codes can overcome faulty circuit components to enable robust computation. Choosing an appropriate code is non-trivial as it must balance several requirements. Increasing the rate of the code reduces the relative number of redundant bits used in the fault-tolerant circuit, while increasing the distance of the code ensures robustness against faults. If the rate and distance were the only concerns, we could use asymptotically optimal codes as is done in communication settings. However, choosing a code for computation is challenging due to an additional requirement: The code needs to facilitate accessibility of encoded information to enable computation on encoded data. This seems to conflict with having large rate and distance. We prove that this is indeed the case, namely that a code family cannot simultaneously have constant rate, growing distance and short-depth gadgets to perform encoded CNOT gates. As a consequence, achieving good rate and distance may necessarily entail accepting very deep circuits, an undesirable trade-off in certain architectures and applications.

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