Google's announcement of its breakthrough Willow quantum processor has reignited debates about crypto security, with some observers suggesting quantum computers could break Bitcoin's encryption.

The tech giant claims its new quantum computing chip can complete certain calculations in five minutes, which would take traditional supercomputers an impractical amount of time to process. 

Quantum computing is a new type of computing that uses the strange properties of quantum physics, where small particles can exist in multiple states at once and affect each other instantly across distances to solve certain problems way faster than regular computers.

Unlike traditional computers that work with bits that are either 0 or 1, quantum computers use quantum bits (qubits) that can be both 0 and 1 at the same time, allowing them to process huge amounts of possibilities simultaneously.

Google claims that it has advanced quantum error correction, one of the first steps in making quantum computing practical.

Could it crack Bitcoin, then? 

Not yet, industry observers have pointed out. AllianceBernstein analysts said in a Tuesday report that t...