1

Quantum
Computing
vs. Blockchain
v What is Quantum Computing?

v Why is it a potential threat to the

Blockchain?

v Why everything is going to be all

right?
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Samuel Martinet, for Paris Security Meetup, July 4
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What is Quantum Computing?

TL;DR: Computer that are orders of magnitude faster than regular computer

”Quantum computing takes advantage of the ability of subatomic particles to exist

in more than one state at any time. ”
Wired’s introduction to quantum computers.

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Quantum What?
Quantum computers operate on completely different principles to existing computers.

APPROACH
WHAT CAN THEY ACHIEVE?
1 • In theory a quantum computer can be hundred times faster than today’s best supercomputers.

• They could perform some mathematical operations that today cannot be realized. Example:
Prime Factorization.

• These are relevant: Prime Factorization is the basis of most of today’s cryptography

APPROACH
EXAMPLE
DO THEY ACTUALLY EXIST?
21
RISK OPTION
• Google and IBM already demonstrated prototypes starting in 2016

• These prototypes were not stable enough to make any useful computation

• But it showed there is race to Quantum dominance….

• Safe to assume quantum computer will eventually come to market

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Quantum Computing as a Threat

TL;DR: Some of the building blocks of blockchain as we know it today could be
wiped out by quantum computers

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Quantum Threat
2 examples where Quantum Computing could hurt

EXAMPLE
51% ATTACK MADE EASY
1 • Mining relies on the difficulty of finding the right nonce. A brute force process.

• Quantum computers would outpace even the best supercomputer we have today.

• Therefore, someone with a quantum computer could quickly have 50 % + of mining power

EXAMPLE
EXAMPLE
GOING FROM ADDRESS TO PRIVATE KEY
21
RISK OPTION
• Bitcoin addresses are derived from private keys: it is easy to go from private key to address.

• It is difficult to go from address to private key: that enables us to share our address safely.

• A quantum computer would be able to go from address to private key.

• What to do if you cannot publicize your address?

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Everything is going to be all right?

TL;DR: Challenges breed creativity. Bitcoin could be made quantum resistant,
Some blockchains claim to have achieved that already.

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Solutions
Challenges breed solutions

SOLUTION
ADAPT EXISTING BLOCKCHAINS (E.G. BITCOIN)
1 • The vulnerability of Bitcoin to Quantum computing is actually localized

• Just need to make the function that transforms the private key into an address quantum resistant

• Then even quantum computers cannot go from address to private key

• … Except this needs a hard fork (but who is going to disagree?)

SOLUTION
EXAMPLE
USE NEWER BLOCKCHAINS (E.G. IOTA)
21
RISK OPTION
• If you think the above won’t take place, don’t worry

• Even today some blockchains have been designed with the quantum threat in mind

• For example, IOTA

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DISTRIBUTED INTERNET ACCESS 

POWERED BY THE BLOCKCHAIN
Mid 2016
Late 2018

Alpha Version
Mid 2017 June 2018 Beta Version
We developed the first
functioning prototype, Deploy Bytes MVP
May 2018
using the Bitcoin MPC (Android) and give
Ethereum Version Talks with IOTA
Protocole (won the early bird access. Build
The same but with Talks start with IOTA a strong community.
London Fintech Week Shift to Full Time
Ethereum payment foundation to bring our Optimize the go to
competition) Team decides to switch
channels, and the accumulated market startegy.
to full-time. Bytes R&D
added business logic knowledge to IoT (on
is incorporated (first
enabled by reliance on recommendation of
french company to
smart contracts (scope: Imperial College
incorporate using
PhD in computer London Professor Will
cryptocurrencies)
science @ Imperial Knottenbelt)
College Ldn)

A goal: App Store in 18Q4 / 19Q1. Be (one of) the first end user app to
be ”born out of the blockchain”

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