Public interest in investigating use cases of blockchain technology has increased. Blockchain technology eliminates the need for a trusted central authority, and instead relies upon consensus mechanisms to ensure blockchain network security. In this investigation, the authors explore authentication methods common to most blockchain networks, then explore the two most popular consensus mechanisms: Proof of Work (PoW) and Proof of Stake (PoS). The paper explores some of the the security vulnerabilities that quantum computing would introduce to blockchain networks, how they impact PoW- and PoS-based networks differently, and potential solutions to these problem.

Another technology that is steadily on the rise is quantum computing, particularly with companies like Google and IBM investing significant resources in development. The authentication and consensus portions of blockchain networks and their security rely upon the computational infeasibility of inverting certain functions, so quantum computers have the potential to cause significant disruption in this space. Due to the expectation of quantum computing, there has been a focus on the development of
quantum-resistant cryptography.

Read this report to discover how blockchain networks work, how they can be improved  and what the mechanisms are behind it.