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Lobachevskii Journal of Mathematics

Quantum-Assisted Blockchain

Farid Mansurovich Ablayev, D. A. Bulychkov, D. A. Sapaev, Alexander Vasiliev, Mansur Ziatdinov

Published Sep 1, 2018• 29 citations
Publisher

Abstract

Bitcoin and blockchain in general is a hot topic nowadays. In the paper we propose a quantum empowering of this technology and show how to speed-up the mining procedure using the modified Grover’s algorithm.
DOI
10.1134/s1995080218070028

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Abstract This paper explores the impact of quantum computing on the efficiency of blockchain mining, focusing on three cryptographic hash algorithms: SHA-256, BLAKE2b, and Keccak-256. Through simulations, we compare the performance of these algorithms in both classical and quantum environments, with a specific emphasis on the effects of increasing qubit counts. The study also examines the potential of Grover’s algorithm to accelerate mining times and improve overall mining efficiency. Our findings indicate significant reductions in mining times when using quantum computing, particularly with the application of Grover’s algorithm. While classical mining techniques are widely used today, the introduction of quantum computing presents both opportunities and challenges for the future of blockchain technology. This paper provides valuable insights into how quantum advancements could reshape blockchain mining, highlighting the need for continued exploration of quantum-resistant cryptographic methods.