How does quantum computing differ from classical computing?

Classical computers process information using bits (0s and 1s), while quantum computers use quantum bits or 'qubits' that can exist as both 0 and 1 simultaneously. This allows quantum computers to perform multiple calculations at once through superposition and entanglement. Classical computers check solutions sequentially; quantum computers can explore many solutions in parallel. Quantum computers could potentially break current cryptocurrency encryption methods, making blockchain transactions vulnerable. This has prompted the crypto community to research quantum-resistant encryption. However, true quantum computers powerful enough to threaten crypto don't yet exist at scale.