What is Quantum Computing? What Does It Do?

With the help of the laws of quantum mechanics, a rapidly developing technology called quantum computing, issues that are too difficult for conventional computers to handle are solved. In this article, we have discussed terms such as quantum computing, post-quantum cryptography, and qubits.

What is Quantum Computing? What Does It Do?

In order to answer complicated problems more quickly than on conventional computers, quantum computing is a multidisciplinary field that combines elements of computer science, physics, and mathematics. Research on hardware and application creation are both included in the topic of quantum computing. By making use of quantum mechanical phenomena like superposition and quantum interference, quantum computers are able to tackle some types of problems more quickly than classical computers.

Machine learning (ML), optimization, and physical system simulation are a few areas where quantum computers can offer such speed improvement. Future use cases might include chemical system simulation or portfolio optimization in finance, which would solve issues that are currently beyond the capabilities of even the most potent supercomputers on the market.

What is the Purpose of Post-Quantum Cryptography?

The term “post-quantum cryptography” refers to a growing group of techniques that will enable quantum computing while still safeguarding all of our personal information, including passwords for Twitter, bank accounts, and government buildings, as well as codes for accessing nuclear or chemical laboratories. Without the capacity to own and maintain secrets, the world as we presently know it would abruptly come to an end.

Potential Strategies for Post-Quantum Cryptography

Some promising public-key algorithms for post-quantum cryptography are the following:

Lattice-Based Cryptography

It’s significant to keep an eye on NTRU lattice-based cryptography in particular because it has undergone extensive testing and has so far withstood years of attempts to crack it. It is for this reason that the Post Quantum Cryptography Investigation Group, which is funded by the European Commission, is promoting NTRU lattice-based cryptography for investigation as a potential standard of post-quantum cryptography.

Hash-Based Cryptography

Hash-based cryptographic algorithms are less entertaining than they sound and have been used since the 1970s. However, their essential difference from numerical digital signatures may provide them some leverage in the post-quantum cryptography war. There is nothing fundamental that says evolutions of the like of Lamport or Merkle signatures might not have a role to play in the post-quantum future, even though they are less well supported for inquiry right now than things like lattice-based cryptography.

Code-Based Cryptography

The European Commission also supports code-based cryptography techniques, which frequently rely on error-correcting codes. Ironically, for more than 40 years, attempts to break one method, the McEliece signature, have failed despite employing random codes. Researchers’ attempts to strengthen and stabilize the McEliece signature by adding more structure have consistently rendered it weaker, which raises the possibility that usable randomness may play a role in post-quantum cryptography.

What is a Qubit?

Quantum particles serve as the representation for quantum bits, or qubits. The processing power of a quantum computer is based on the manipulation of qubits by control devices. The equivalent of a bit in a conventional computer is a qubit in a quantum computer. A traditional computer’s processor functions entirely by manipulating bits. Similarly, the quantum processor processes qubits to complete all of its tasks.

Benefits of Quantum Computing for the Finance Industry

The algorithms developed by Grover and Shor can be used for portfolio optimization. Finding the right mix of investments to maximize returns while reducing risk is the goal of portfolio optimization. Technology can enable more flexible optimization tactics that take into consideration a wider range of issues, such as environmental, social, and governance factors, in addition to faster and more accurate computations.