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qBitcoin

Kazuki Ikeda

posted on 23 August 2017

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A decentralized online quantum cash system, called qBitcoin, is given. We design the system which has great benefits of quantization in the following sense. Firstly, quantum teleportation technology is used for coin transaction, which prevents an owner of a coin from keeping the original coin data after sending the coin to another. This was a main problem in systems using classical information and a blockchain was introduced to solve this issue. In qBitcoin, the double-spending problem never happens and its security is guaranteed theoretically by virtue of quantum information theory. Making a bock is time consuming and the system of qBitcoin is based on a quantum chain, instead of blocks. Therefore a payment can be completed much faster than Bitcoin. Moreover we employ quantum digital signature so that it naturally inherits properties of peer-to-peer (P2P) cash system as originally proposed in Bitcoin.