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This is why parallel SAT solvers are barely faster than the usual ones.
SAT is NP complete, but a crucial step in SAT solving (unit propagation) is P complete.
"The class P, typically taken to consist of all the "tractable" problems for a sequential computer, contains the class NC, which consists of those problems which can be efficiently solved on a parallel computer. This is because parallel computers can be simulated on a sequential machine. It is not known whether NC = P. In other words, it is not known whether there are any tractable problems that are inherently sequential. " From: https://en.m.wikipedia.org/wiki/P-complete
The intuition is that the hardest problems in P have linear dependency chains. If you could have a good parallel algorithm for a P complete problem, you could take a problem with a dependency chain and solve parts of it in parallel without waiting for the results those parts are depending on.
Is there a formal proof of what you're talking about that we can read?
https://www.researchgate.net/profile/Walter-Ruzzo/publicatio...
This could occur if the reduction of an NP-complete problem onto a polynomial problem results in a runtime of such monstrous polynomial degree that the exponential algorithms are just faster for every tractable problem size. Something like this exists in some graph algorithms - theoretically faster algorithms exist, but in practice, they are a lot slower than the theoretically slower algorithm until completely silly graph sizes.
This could turn even more frustrating if the proof was nonconstructive.
You don't even need to go that far.
n^8 is smaller than 2^n once you get past 44, still well in the tractable range, but encrypting something against n^8 brute force is a pretty reasonable task.
Basically all modern asymmetric cryptography in common use rely on the difficulty of either integer factoring or discrete logarithms (including discrete logarithms of elliptic curves). The problem is, none of those problems are proven to be NP-complete! Even if we proved P != NP, there could still be polynomial time algorithms for integer factoring and/or discrete logarithms.
Something to keep in mind is a lot of these matrices are sparse, though. When most of the entries are 0, specialized data structures that know this can avoid doing all of the pointless multiplication by 0 operations. This saves far more time than some kind of approximate multiplication would.
Strassen algorithm drops it to O(n^log2(7)) = 2.8074 because it divides the process into 2x2 matrix multiplications that can be multiplied by 7 ops instead of 8. Strassen is practical algorithm.
You can still optimize and get to 2.371552 with complex trickery, but these are galactic algorithms, meaning that matrices are so big that you can't even construct them on Earth.
Most things that you do on the computer, you want to be O(n) or less; maybe O(n log n) or even O(n log^x n), but no slower than that. That means if you get a bigger problem, you can generally just get a proportionally bigger computer and be all set.
Now, sure, there are plenty of O(n^2) problems where the n stays small enough, or you don't mind waiting or spending a ton of money on it. But just because something is in P doesn't mean that you want to be solving it with a polynomial time algorithm on a regular basis.