Is it akin to the revolutionary code-breaking system from Digital Fortress called TRANSLTR?
I hope it won’t.
It’s a 70-qubit quantum computer. It doesn’t have enough memory to break even rudimentary 128-bit encryption.
The algorithm that it executed was also not Shor’s algorithm (the one that could potentially break encryption). The benchmark used is called random circuit sampling, which is just doing a bunch of random quantum operations between pairs of qubits and then reading the output. It’s one of the fastest quantum speedups of any known algorithm.