Quantum Computing is a rapidly developing multidisciplinary area of science that explores implications of quantum mechanical phenomena applied to computer science both in hardware and theory (quantum algorithms). Quantum computations makes direct use of such quantum phenomena as superposition and entanglement and implores them to implement working solutions for data manipulation and computation. Recent advances in Quantum Computing showed promising results. To mention a few of the recent accomplishments – a quantum algorithm for database querying has been implemented that is by far more efficient than any classical solution to this problem and a method of factoring numbers that doesn't grow exponentially (which is impossible on a classical computer). There is a very promising application of quantum algorithms to cryptography as well. It is a mathematically proven fact that quantum models of computing not only substantially reduce time complexity of certain classes of algorithms but also allow some of the classically unsolvable problems to be solved as well. There is a strong belief in the academic community as well as corporate research organizations that quantum computers are the next step and will become increasingly important in the coming decades.