  The use of quantum bits (qubits) in cryptography holds the promise of secure
cryptographic quantum key distribution schemes. It is based usually on
single-photon polarization states. Unfortunately, the implemented ``qubits'' in
the usual weak pulse experiments are not true two-level systems, and quantum
key distribution based on these imperfect qubits is totally insecure in the
presence of high (realistic) loss rate. In this work, we investigate another
potential implementation: qubits generated using a process of parametric
downconversion. We find that, to first (two-photon) and second (four-photon)
order in the parametric downconversion small parameter, this implementation of
quantum key distribution is equivalent to the theoretical version.
  Once realistic measurements are taken into account, quantum key distribution
based on parametric downconversion suffers also from sensitivity to extremely
high (nonrealistic) losses. By choosing the small parameter of the process
according to the loss rates, both implementations of quantum key distribution
can in principle become secure against the attack studied in this paper.
However, adjusting the small parameter to the required levels seems to be
impractical in the weak pulse process. On the other hand, this can easily be
done in the parametric downconversion process, making it a much more promising
implementation.
