Carlos A. Perez-Delgado

Dan A. Bard, Joseph J. Kearney, Carlos A. Perez-Delgado

Proof-of-Work (PoW) is a fundamental underlying technology behind most major blockchain cryptocurrencies. It has been previously pointed out that quantum devices provide a computational advantage in performing PoW in the context of Bitcoin. Here we make the case that this quantum advantage extends not only to all existing PoW mechanisms, but to any possible PoW as well. This has strong consequences regarding both quantum-based attacks on the integrity of the entirety of the blockchain, as well as more legitimate uses of quantum computation for the purpose of mining Bitcoin and other cryptocurrencies. For the first case, we estimate when these quantum attacks will become feasible, for various cryptocurrencies, and discuss the impact of such attacks. For the latter, we derive a precise formula to calculate the economic incentive for switching to quantum-based cryptocurrency miners. Using this formula, we analyze several test scenarios, and conclude that investing in quantum hardware for cryptocurrency mining has the potential to pay off immensely.

Joseph J. Kearney, Carlos A. Perez-Delgado

Quantum computation represents a threat to many cryptographic protocols in operation today. It has been estimated that by 2035, there will exist a quantum computer capable of breaking the vital cryptographic scheme RSA2048. Blockchain technologies rely on cryptographic protocols for many of their essential sub-routines. Some of these protocols, but not all, are open to quantum attacks. Here we analyze the major blockchain-based cryptocurrencies deployed today -- including Bitcoin, Ethereum, Litecoin and ZCash, and determine their risk exposure to quantum attacks. We finish with a comparative analysis of the studied cryptocurrencies and their underlying blockchain technologies and their relative levels of vulnerability to quantum attacks.

Carlos A. Perez-Delgado, Hector G. Perez-Gonzalez

We set down the principles behind a modeling language for quantum software. We present a minimal set of extensions to the well-known Unified Modeling Language (UML) that allows it to effectively model quantum software. These extensions are separate and independent of UML as a whole. As such they can be used to extend any other software modeling language, or as a basis for a completely new language. We argue that these extensions are both necessary and sufficient to model, abstractly, any piece of quantum software. Finally, we provide a small set of examples that showcase the effectiveness of the extension set.

Li Yu, Carlos A. Perez-Delgado, Joseph F. Fitzsimons

Homomorphic encryption is a form of encryption which allows computation to be carried out on the encrypted data without the need for decryption. The success of quantum approaches to related tasks in a delegated computation setting has raised the question of whether quantum mechanics may be used to achieve information theoretically secure fully homomorphic encryption. Here we show, via an information localisation argument, that deterministic fully homomorphic encryption necessarily incurs exponential overhead if perfect security is required.