The new Willow chip performed a computation in under five minutes that would take a supercomputer 10 septillion years.

Google's new chip Willow made a big statement that quantum computing is coming to the real world. That could also mean a future of cryptocurrency hacking.

Google's quantum computing scientists this month demonstrated breakthroughs in the field that reinforce the sense that quantum computing is for real and will be able to find its place among other kinds of computers as a valuable resource.

Google has announced its new 105-qubit superconducting chip, code-named Willow, which solved a quantum supremacy experiment that would take at least 300 million years to simulate on a classical computer.

Quantum computing represents massive opportunities if the company involved can be the first to market with a feasible device. Alphabet ( GOOG -0.24%) ( GOOGL 0.06%) seems to be on that track, as a chip produced by its Google subsidiary just posted an unbelievable score on a benchmark test.

Experts believe that one day, quantum computers could make today’s systems of encryption utterly obsolete. But Google tells The Verge its new “breakthrough” Willow chip is nowhere near ready for that. “The Willow chip is not capable of breaking modern cryptography,” Google Quantum AI director and COO Charina Chou tells The Verge.

This announcement comes at a time when Google has faced criticism for slowing down in innovation and losing relevance, especially as competitors like OpenAI have gained significant attention.

Google just dropped Willow, a quantum chip that redefines what “fast” and “accurate” even mean. This isn’t your typical tech innovation. Willow can perform calculations in under five minutes, which would take the fastest supercomputers 10 septillion years to crack.