Quantum Computing in Cryptocurrency and Blockchain

Both types of computers use physical objects to encode those ones and zeros. In classical computers, these objects encode bits (binary digits) in two states—e.g., a current is on or off, a magnet points up or down. For example, both types of computers usually have chips, circuits, and logic gates. Their operations are directed by algorithms (essentially sequential instructions), and they use a binary code of ones and zeros to represent information.

Modern business teems with optimization problems that are ideally suited to quantum algorithms and could save time, energy, and resources. “We’re not just building the technology, we have to enable the workforce to use it,” explains Katie Pizzolato, IBM’s director of quantum strategy and applications research. For shippers, freight forwarders and ground handlers who form the backbone of global supply chains, making sense of complex logistics data is an ongoing challenge.

Quantum computing

Progress in quantum algorithms began in the 1990s, with the discovery
of the Deutsch-Josza algorithm (1992) and of Simon’s algorithm
(1994). Published in 1994, this algorithm marked a
‘phase transition’ in the development of quantum computing
and sparked a tremendous interest even outside the physics community. In that year the first experimental realisation of the quantum
CNOT … Read More

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