The Role of Quantum Computing in Strengthening Blockchain Security and Privacy Protocols

Abstract

Blockchain is a huge component of decentralized systems, and it provides a safe and transparent way of carrying out transactions. It is though susceptible to quantum computing that could crack the RSA and ECC traditional encryption algorithms. This paper explains the risk of quantum computers and specifically of Shor Algorithm and the study of quantumresistant cryptography, such as lattice-based cryptography, to secure blockchain systems. It also investigates quantum-enhanced encryption, e.g., quantum key distribution (QKD) which can make blockchain unbreakable encryption. The article substantiates the relevance of quantum-resistant solutions, which are being elaborated today to ensure the safety and confidentiality of blockchain in the future.