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Coin flipping is a cryptographic primitive in which two distrustful parties wish to generate a random bit in order to choose between two alternatives. This task is impossible to realize when it relies solely on the asynchronous exchange of…

A digital currency is money in a digital form. In this model, maintaining integrity of the supply is a core concern, therefore protections against double-spending are often at the heart of a secure digital money scheme. Quantum money…

Quantum Physics · Physics 2024-08-09 Anne Broadbent , Raza Ali Kazmi , Cyrus Minwalla

The no-cloning theorem can be used as a basis for quantum money constructions which guarantee unconditionally unforgeable currency. Existing schemes, however, either (i) require long-term quantum memory and quantum communication between the…

Quantum Physics · Physics 2025-10-22 Dmytro Gavinsky , Dar Gilboa , Siddhartha Jain , Dmitri Maslov , Jarrod R. McClean

Research on quantum technology spans multiple disciplines: physics, computer science, engineering, and mathematics. The objective of this manuscript is to provide an accessible introduction to this emerging field for economists that is…

General Economics · Economics 2021-10-11 Isaiah Hull , Or Sattath , Eleni Diamanti , Göran Wendin

Quantum tokens are underlying primitives for quantum money and network proposals, which leverage the no-cloning theorem to realize unforgeable authentication. A relevant but overlooked type of attack to such architectures is a hacker that…

Quantum Physics · Physics 2026-05-06 Lucas Tsunaki , Boris Naydenov

Performing complex cryptographic tasks will be an essential element in future quantum communication networks. These tasks are based on a handful of fundamental primitives, such as coin flipping, where two distrustful parties wish to agree…

Quantum coin flipping (QCF) is an essential primitive for quantum cryptography. Unconditionally secure strong QCF with an arbitrarily small bias was widely believed to be impossible. But basing on a problem which cannot be solved without…

Quantum Physics · Physics 2023-07-25 Guang Ping He

Recently, quantum computing experiments have for the first time exceeded the capability of classical computers to perform certain computations -- a milestone termed "quantum computational advantage." However, verifying the output of the…

Quantum Physics · Physics 2023-09-13 Gregory D. Kahanamoku-Meyer

In this work we present a publicly verifiable quantum money protocol which assumes close to no quantum computational capabilities. We rely on one-time memories which in turn can be built from quantum conjugate coding and hardware-based…

Quantum Physics · Physics 2026-03-16 Fabrizio Genovese , Lev Stambler

We demonstrate the implementation of quantum cheque, proposed by Roy Moulick and Panigrahi [Quantum Inf. Process (2016) 15: 2475], using the five-qubit IBM quantum computer. Appropriate single qubit, CNOT and Fredkin gates have been…

Quantum Physics · Physics 2018-01-30 Bikash K. Behera , Anindita Banerjee , Prasanta K. Panigrahi

Quantum money represents an innovative approach to currency by encoding economic value within the quantum states of physical systems, utilizing the principles of quantum mechanics to enhance security, integrity, and transferability. This…

Quantum Physics · Physics 2025-07-15 Artur Czerwinski

We present and characterize advanced attacks on an ensemble-based quantum token protocol that allows for implementing non-clonable quantum coins. Multiple differently initialized tokens of identically prepared qubit ensembles are combined…

Quantum Physics · Physics 2026-05-06 Bernd Bauerhenne , Lucas Tsunaki , Jan Thieme , Boris Naydenov , Kilian Singer

Quantum network protocols offer new functionalities such as enhanced security to communication and computational systems. Despite the rapid progress in quantum hardware, it has not yet reached a level of maturity that enables execution of…

Quantum Physics · Physics 2022-07-19 Chin-Te Liao , Sima Bahrani , Francisco Ferreira da Silva , Elham Kashefi

The no-cloning property of quantum mechanics allows unforgeability of quantum banknotes and credit cards. Quantum credit card protocols involve a bank, a client and a payment terminal, and their practical implementation typically relies on…

Quantum Physics · Physics 2019-02-28 Mathieu Bozzio , Eleni Diamanti , Frédéric Grosshans

Publicly verifiable quantum money is a protocol for the preparation of quantum states that can be efficiently verified by any party for authenticity but is computationally infeasible to counterfeit. We develop a cryptographic scheme for…

Quantum Physics · Physics 2022-09-01 Andrey Boris Khesin , Jonathan Z. Lu , Peter W. Shor

The digital currency Bitcoin has had remarkable growth since it was first proposed in 2008. Its distributed nature allows currency transactions without a central authority by using cryptographic methods and a data structure called the…

Quantum Physics · Physics 2020-09-28 Jonathan Jogenfors

Quantum tokens envision to store unclonable quantum states in a physical device, with the goal of being used for personal authentication protocols, as required by banks. Still, the experimental realization of such devices faces many…

Quantum money is the first invention in quantum information science, promising advantages over classical money by simultaneously achieving unforgeability, user privacy, and instant validation. However, standard quantum money relies on…

Recent developments make the possibility of achieving scalable quantum networks and quantum devices closer. From the computational point of view these emerging technologies become relevant when they are no longer classically simulatable.…

Quantum Physics · Physics 2017-03-09 Elham Kashefi , Petros Wallden

A ($t$, $n$) threshold quantum secret sharing (QSS) is proposed based on a single $d$-level quantum system. It enables the ($t$, $n$) threshold structure based on Shamir's secret sharing and simply requires sequential communication in…

Quantum Physics · Physics 2018-10-10 Changbin Lu , Fuyou Miao , Junpeng Hou , Keju Meng