From the project press release:
“IonQ (NYSE: IONQ), the world’s leading full-stack quantum platform and foundry, today published the first complete, end-to-end fault-tolerant resource estimate for running Shor’s algorithm. The historic paper by IonQ’s research team uses the recently published Walking Cat architecture to demonstrate how a specific application can be optimized for a trapped-ion quantum computer. This work concludes that a 20,000-physical-qubit IonQ quantum computer is expected to break secp256k1, the 256-bit elliptic curve used by blockchain technology such as Bitcoin, in just under 26 days. IonQ chose to run Shor’s algorithm for secp256k1 because it is one of the most scrutinized cryptography standards in production today. […]”