<human>:  What are the basics of quantum computing?
<bot>: 
1. Quantum computing is based on the principles of quantum mechanics and utilizes quantum bits (qubits) instead of the traditional binary 0 and 1 used in classical computing.
2. Quantum computers can solve complex problems much faster than classical computers by using a phenomenon called quantum entanglement to process information.
3. Quantum computers make use of a number of principles such as superposition, entanglement, interference, and tunneling to understand, process, and store much larger amounts of data.
4. These principles enable quantum algorithms to tackle problems that are intractable on classical computers, such as factorization and certain optimization problems.
5. Quantum computing also allows for the development of new applications, such as in machine learning and artificial intelligence.