Integrating Quantum Computing Into Blockchain: Strategies for Overcoming Scalability and Security Challenges

Abstract

The rapid progression of quantum computing has created new opportunities for advancing blockchain technology, particularly in addressing its two primary challenges which are scalability and security. As blockchain adoption grows, traditional consensus mechanisms reveal significant inefficiencies, causing transaction bottlenecks and increased latency. Additionally, the advent of quantum computing poses a significant threat to the classical cryptographic algorithms foundational to blockchain security. This research introduces an innovative approach that harnesses quantum computing to address these dual challenges. To enhance scalability, this research proposes integrating Grover's algorithm and Post Quantum encryption alogrithms to optimize transaction selection and validation, significantly reducing time complexity compared to classical methods. On the security front, the research introduces post-quantum cryptographic techniques to strengthen blockchain networks against quantum adversaries. Simulations conducted on IBM Qiskit Quantum Computer Simulator demonstrate that the proposed framework achieves superior efficiency, cost-effectiveness, and faster transaction processing with Grover's algorithm and Post Quantum encryption alogrithms compared to the current classical systems. These improvements highlight the potential benefits of utilizing quantum computing to deploy quantum-enhanced blockchain. Keywords: Quantum, Computing, IBM, Qiskit, blockchain, Post-Quantum, Encryption CISDI Journal Reference Format Gabriel, O., Olabiyisi, S.O., Ismaila, W.O., Falade, O.A., & Alawode O. (2024): Integrating Quantum Computing Into Blockchain: Strategies for Overcoming Scalability and Security Challenges. Computing, Information Systems, Development Informatics & Allied Research Journal. Vol 15 No 3, Pp 15-28. dx.doi.org/10.22624/AIMS/CISDI/V15N3P2 Available online at www.isteams.net/cisdijournal