Threats and Opportunities: Blockchain Meets Quantum Computation

Abstract: This article considered deficiencies of the flourishing blockchain technology manifested by the development of quantum computation. We show that the future blockchain technology would under constant threats from the following aspects: 1) Speed up the generation of nonces; 2) Faster searching for hash collisions; 3) Break the security of the classical encryption. We also demonstrate that incorporating some quantum properties into blockchain makes it more robust and more efficient. For example people can establish a quantum-security blockchain system that utilizes quantum key distribution (QKD), and quantum synchronization and detectable Byzantine agreement (DBA) can help the blockchain systems achieve faster consensus even if there exist a number of malicious nodes.