Decentralization Using Quantum Blockchain: A Theoretical Analysis

Abstract

Blockchain technology has been prominent recently due to its applications in cryptocurrency. Numerous decentralized blockchain applications have been possible due to blockchains' nature of distributed, secured, and peer-to-peer storage. One of its technical pillars is using public-key cryptography and hash functions, which promise a secure, pseudoanonymous, and distributed storage with nonrepudiation. This security is believed to be difficult to break with classical computational powers. However, recent advances in quantum computing have raised the possibility of breaking these algorithms with quantum computers, thus, threatening the blockchains' security. Quantum-resistant blockchains are being proposed as alternatives to resolve this issue. Some propose to replace traditional cryptography with postquantum cryptography-others base their approaches on quantum computer networks or quantum internets. Nonetheless, a new security infrastructure (e.g., access control/authentication) must be established before any of these could happen. This article provides a theoretical analysis of the quantum blockchain technologies that could be used for decentralized identity authentication. We put together a conceptual design for a quantum blockchain identity framework and give a review of the technical evidence. We investigate its essential components and feasibility, effectiveness, and limitations. Even though it currently has various limitations and challenges, we believe a decentralized perspective of quantum applications is noteworthy and likely.