COMPARATIVE STUDY OF BLOCKCHAIN AND QUANTUM CRYPTOGRAPHY FOR SECURE FAIR EXCHANGE

Abstract

In decentralized environments where the parties have only partial trust, secure and fair exchange is a must throughout the entire process. Smart contracts, transparency, and unalterable transaction records are the main functionalities that blockchain technology uses to implement fair exchange, while the case of quantum cryptography is different in that it offers robust security through the quantum key distribution method with eavesdropping that is detectable. In this paper, we examine the pros and cons of blockchain-based versus quantum cryptographic models for implementing secure fair exchange. We evaluate the issues that concern security, fairness, efficiency, scalability, and resistance to quantum attacks. The outcome of the analysis reveals that blockchain not only guarantees enforcement and transparency but also that the adoption of quantum cryptography has a tremendous impact on security, thus increasing the robustness and future-readiness of the fair exchange protocols.