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ARTICLE · 22 AUGUST 2023

Quantum Computing Could Threaten Blockchain, Crypto

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Quantum computers have the potential to break the most advanced cryptographic protocols—including those used for blockchain protocols—in operation today.

United StatesTechnology
Daniel J. Davis
Daniel J. Davis
Alexander C. Kim
Alexander C. Kim
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Katten's Daniel Davis and Alexander Kim examine how quantum computing could impact blockchain protocols and cryptocurrency mining, and say that public companies may consider disclosing its potential effect on investments.

Quantum computers have the potential to break the most advanced cryptographic protocols-including those used for blockchain protocols-in operation today. This is because quantum computers, which rely on principles of quantum mechanics, can in theory complete certain computationally intensive operations that would take today's classical computers an extraordinary amount of time.

A quantum computer works by using quantum bits, or qubits. In contrast to traditional binary bits, which can only be either 0 or 1, qubits can be a combination of 0 and 1 at the same time. This property of qubits, known as superposition, enables quantum computers to perform multiple calculations in parallel. Additionally, a phenomenon known as entanglement allows two

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