#cryptonews
Chinese researchers have claimed a significant breakthrough in the realm of encryption, stating that they have managed to crack algorithms commonly used in banking and cryptocurrency. The team, led by Wang Chao from Shanghai University, utilized a quantum computer to breach these encryption methods. According to the South China Morning Post, the quantum computer was developed by Canada’s D-Wave Systems, and the attack was carried out using a technique known as quantum annealing.
The team reportedly targeted encryption algorithms such as Present, Gift-64, and Rectangle, which are key components of the Substitution-Permutation Network (SPN) structure.
Quantum annealing, the method employed by the researchers, focuses on finding the lowest energy state, which allows for more efficient problem-solving.