Quantum blockchain ensures that hackers will not be able to hack or crack cryptocurrencies. This new blockchain technology will secure many cryptocurrencies in the future.
This idea was proposed by the researchers at Victoria University of Wellington in New Zealand to give insurance to all the cryptocurrency holders.
In this technology, every node stores a blockchain node copy. Like classical blockchain, the main aim of the stage is to add valid blocks in a decentralized way.
The creation of the transaction process is important as it combines quantum-enhanced logic-based blockchain (QLB). This method enhances security while dealing with blockchain. So in the future, quantum coins can see a great rise because of their high security, making it impossible for hackers to steam your crypto.
How is it possible?
The senior researchers, Del Rajan and Matt Visser of Victoria University came up with a method that encodes the blockchain in the temporal Greenberger-Home-Zeilinger (GHz) state photons that do not coexist simultaneously.
The method of Quantum Blockchain is also remarked as the Time Machine because its entanglement in time is opposing to an entanglement in space, which gives an important quantum advantage.
Quantum Blockchain is a Time Machine!
Usually, a blockchain stores the transactions in a system for a fixed record of events. The method is important for confirming and maintaining the fixed record, which we now know as mining. According to Del Rajan, the researcher, quantum computers will make up 10 percent of the GDP by 2027.
The Quantum blockchain has reversed the mining structure, and previously mining was linked with past records, which will be linked to future records with the help of this latest blockchain technology.
Researchers have suggested that this method is already existing, but not many utilize it efficiently to protect their cryptocurrencies. But this technology still needs an update, hours of work, and more features to add for the end-users.