Securing Blockchain Transactions Using Quantum Teleportation and Quantum Digital Signature

Blockchain is the new disruptive technology which is gaining momentum in several domains of real-world applications such as Bitcoin—the most well-known example, and primarily in the financial sector. Distributed ledger system which is the main feature of blockchain technology protected across harmful updates using cryptographic techniques, e.g. hashing and digital signatures, is spread over the network so that no one is the owner of the ledger. This poses a significant challenge in the areas of performance, security, and privacy using this emerging technology. We propose an algorithm to provide a secure mechanism for performing transactions on the Blockchain network by adopting quantum digital signatures (QDS) and quantum teleportation phenomenon of quantum computing. The proposed algorithm uses key pairs to generate private keys and corresponding public keys; the quantum digital signatures are used to sign the message which are then distributed over the blockchain network using the teleportation phenomenon. The security of the keys is dependent on the fundamental principles of quantum mechanics that doesn’t allow forging. The Einstein–Podolsky–Rosen (EPR) pair of particles is used to communicate the quantum information via a quantum channel for teleportation, which is generated by operating Bell measurements with corresponding EPR pairs. The original state of the particle (sender) is destroyed once the information is transported to the other particle (receiver) and the QDS scheme also validates the qubits received. The twofold validation process thereby provides high-level security in the transactions.