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Unlike classical digital states (which are discrete), a qubit is continuous-valued, describable by a direction on the Bloch sphere. Despite being continuously valued in this way, a qubit is the smallest possible unit of quantum information, as despite the qubit state being continuously-valued, it is impossible to measure the value precisely. Three famous theorems describe the limits on manipulation of quantum information.
no-teleportation theorem, which states that a qubit cannot be (wholly) converted into classical bits; that is, it cannot be "read".
Due to the volatility of quantum systems and the impossibility of copying states, the storing of quantum information is much more difficult than storing classical information. Nevertheless, with the use of quantum error correction quantum information can still be reliably stored in principle. The existence of quantum error correcting codes has also led to the possibility of fault tolerantquantum computation.
Classical bits can be encoded into and subsequently retrieved from configurations of qubits, through the use of quantum gates. By itself, a single qubit can convey no more than one bit of accessible classical information about its preparation. This is Holevo's theorem. However, in superdense coding a sender, by acting on one of two entangled qubits, can convey two bits of accessible information about their joint state to a receiver.
In some cases quantum algorithms can be used to perform computations faster than in any known classical algorithm. The most famous example of this is Shor's algorithm that can factor numbers in polynomial time, compared to the best classical algorithms that take sub-exponential time. As factorization is an important part of the safety of RSA encryption, Shor's algorithm sparked the new field of post-quantum cryptography that tries to find encryption schemes that remain safe even when quantum computers are in play. Other examples of algorithms that demonstrate quantum supremacy include Grover's search algorithm, where the quantum algorithm gives a quadratic speed-up over the best possible classical algorithm. The complexity class of problems efficiently solvable by a quantum computer is known as BQP.
Quantum key distribution (QKD) allows unconditionally secure transmission of classical information, unlike classical encryption, which can always be broken in principle, if not in practice. Do note that certain subtle points regarding the safety of QKD are still hotly debated.
The study of all of the above topics and differences comprises quantum information theory.