A paper titled How to factor 2048 bit RSA integers in 8 hours using 20 million noisy qubits has just come out which proposes a technique to factor RSA keys with moduli up to 2048 bits with a design whose assumptions they stress are realistic. What are the implications of this new research?
The abstract of the paper, which lists some of the assumptions:
We significantly reduce the cost of factoring integers and computing discrete logarithms over finite fields on a quantum computer by combining techniques from Griffiths-Niu 1996, Zalka 2006, Fowler 2012, Eker-Hstad 2017, Eker 2017, Eker 2018, Gidney-Fowler 2019, Gidney 2019. We estimate the approximate cost of our construction using plausible physical assumptions for large-scale superconducting qubit platforms: a planar grid of qubits with nearest-neighbor connectivity, a characteristic physical gate error rate of $10^{−3}$, a surface code cycle time of 1 microsecond, and a reaction time of 10 micro-seconds. We account for factors that are normally ignored such as noise, the need to make repeated attempts, and the spacetime layout of the computation. When factoring 2048 bit RSA integers, our construction's spacetime volume is a hundredfold less than comparable estimates from earlier works (Fowler et al. 2012, Gheorghiu et al. 2019). In the abstract circuit model (which ignores overheads from distillation, routing, and error correction) our construction uses $3n+0.002n\lg n$ logical qubits, $0.3n^3+0.0005n^3\lg n$ Toffolis, and $500n^2+n^2\lg n$ measurement depth to factor $n$-bit RSA integers. We quantify the cryptographic implications of our work, both for RSA and for schemes based on the DLP in finite fields.
How feasible would it be to design a quantum computer with these properties? 20 million qubits is obviously significantly more than any general purpose quantum computer has right now, but the paper also points out that the qubits only need nearest neighbor connectivity, which is much simpler.