What is quantum cloud computing, and how does it work?
Quantum cloud computing is a nascent technology with profound implications, and it may soon be widely available thanks to cloud technology.
Quantum cloud computing makes quantum computing resources available to organizations, academics and other users through cloud technology.
Cloud-based quantum computers function at greater speeds, with higher computing power than conventional computers, because they employ the principles of quantum physics when solving complex computational problems.
Different types of quantum computers exist, such as quantum annealers, analog quantum simulators and universal quantum computers. Quantum annealers are considered the least powerful among quantum computers but work well to solve optimization problems. Analog quantum simulators, on the other hand, are powerful systems that can solve physics and biochemistry problems.
Universal quantum computers are the most powerful and widely used type of quantum computer. They are also the most difficult to build. Universal computing can potentially access up to 1 million qubits (basic units of quantum information). However, the current technology can only access around 100 to 400 qubits.
How is all of this relevant to blockchain technology? Because quantum computing is incredibly powerful, it has understandably raised concern in the blockchain community, as it could potentially be used to the detriment of blockchain technology as we know it today.
First, quantum computing can hypothetically be used to gain an unfair advantage over other proof-of-work (PoW) miners and possibly dominate blockchain mining. This places decentralized PoW networks such as Bitcoin (BTC) and Litecoin (LTC) under the threat of centralization.
Second, quantum computing can also theoretically decrypt encryption codes used by blockchains. This means that quantum computing could enable an attack on a blockchain network using cryptography. However, it’s not all doom and gloom for cryptographic systems, as quantum cloud computing may also offer an effective solution for protecting and strengthening blockchains from quantum attacks.