Quantum attacks on Bitcoin, and how to protect against them

The key cryptographic protocols used to secure the internet and financial transactions of today are all susceptible to attack by the development of a sufficiently large quantum computer. One particular area at risk are cryptocurrencies, a market currently worth over 150 billion USD. We investigate the risk of Bitcoin, and other cryptocurrencies, to attacks by quantum computers. We find that the proof-of-work used by Bitcoin is relatively resistant to substantial speedup by quantum computers in the next 10 years, mainly because specialized ASIC miners are extremely fast compared to the estimated clock speed of near-term quantum computers. On the other hand, the elliptic curve signature scheme used by Bitcoin is much more at risk, and could be completely broken by a quantum computer as early as 2027, by the most optimistic estimates. We analyze an alternative proof-of-work called Momentum, based on finding collisions in a hash function, that is even more resistant to speedup by a quantum computer. We also review the available post-quantum signature schemes to see which one would best meet the security and efficiency requirements of blockchain applications.Comment: 21 pages, 6 figures. For a rough update on the progress of Quantum devices and prognostications on time from now to break Digital signatures, see https://www.quantumcryptopocalypse.com/quantum-moores-law

Comparing the Overhead of Topological and Concatenated Quantum Error Correction

This work compares the overhead of quantum error correction with concatenated and topological quantum error-correcting codes. To perform a numerical analysis, we use the Quantum Resource Estimator Toolbox (QuRE) that we recently developed. We use QuRE to estimate the number of qubits, quantum gates, and amount of time needed to factor a 1024-bit number on several candidate quantum technologies that differ in their clock speed and reliability. We make several interesting observations. First, topological quantum error correction requires fewer resources when physical gate error rates are high, white concatenated codes have smaller overhead for physical gate error rates below approximately 10E-7. Consequently, we show that different error-correcting codes should be chosen for two of the studied physical quantum technologies - ion traps and superconducting qubits. Second, we observe that the composition of the elementary gate types occurring in a typical logical circuit, a fault-tolerant circuit protected by the surface code, and a fault-tolerant circuit protected by a concatenated code all differ. This also suggests that choosing the most appropriate error correction technique depends on the ability of the future technology to perform specific gates efficiently

Layered architecture for quantum computing

We develop a layered quantum computer architecture, which is a systematic framework for tackling the individual challenges of developing a quantum computer while constructing a cohesive device design. We discuss many of the prominent techniques for implementing circuit-model quantum computing and introduce several new methods, with an emphasis on employing surface code quantum error correction. In doing so, we propose a new quantum computer architecture based on optical control of quantum dots. The timescales of physical hardware operations and logical, error-corrected quantum gates differ by several orders of magnitude. By dividing functionality into layers, we can design and analyze subsystems independently, demonstrating the value of our layered architectural approach. Using this concrete hardware platform, we provide resource analysis for executing fault-tolerant quantum algorithms for integer factoring and quantum simulation, finding that the quantum dot architecture we study could solve such problems on the timescale of days.Comment: 27 pages, 20 figure