Quantum key distribution (QKD) protocols utilize single photons for key exchanging. Heralded single-photon sources (HSPSs) with spontaneous parametric down-conversion (SPDC) is a practical and effective way of producing single photons of high fidelity, bringing extra performance especially at long distances. A pulsed laser is usually used as the pump for HSPS QKD, but it has disadvantages in operational stability and practicality compared to a cw one. On the other hand, a precise model describing the performance of HSPS with a cw pump is still missing. It is inaccurate and unsafe to apply the key rate model of the pulse-pumped HSPS QKD directly to the cw one, and it also overlooks the timing jitter and dead time of the single-photon detectors. In this paper, we study the cw case in detail, including practical imperfections of the experimental instruments. Our model shows that a cw-pumped setup can reach a much longer transmission distance (31 % longer) than the fastest pulsed HSPS QKD system at present, together with other advantages such as higher operational stability and better spectral characteristics.
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