Definition ∞ Quantum algorithms are computational procedures designed to run on quantum computers, leveraging quantum mechanical phenomena like superposition and entanglement. These algorithms can potentially solve certain types of problems, such as factoring large numbers or searching unsorted databases, exponentially faster than classical algorithms. Their development poses significant implications for cryptography.
Context ∞ The discourse surrounding quantum algorithms in the cryptocurrency space is primarily concerned with their potential to break existing public-key cryptography, which underpins the security of most digital assets. This has spurred research into quantum-resistant cryptographic solutions and post-quantum cryptography standards to safeguard blockchain networks.
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