Understanding Quantum Computing begins with the fundamental concepts of classical computing. Traditional computers process information in binary, using bits that represent either a 0 or a 1. In contrast, quantum computers utilize quantum bits or qubits, which can exist in multiple states simultaneously due to the principles of superposition. This allows quantum computers to perform complex calculations at speeds unattainable by classical computers. Additionally, the phenomenon of entanglement enables qubits that are entangled to share information instantaneously, no matter the distance separating them, thus enhancing computational power significantly.

As we delve beyond the basics, it's essential to recognize the tremendous potential of quantum computing across various industries. For instance, in the field of cryptography, quantum algorithms could revolutionize data security, creating unbreakable encryption methods. Furthermore, quantum computing holds promise in optimization problems, which can enhance logistics and supply chain efficiency significantly. As research and development in this revolutionary technology progress, the future of quantum computing looks poised to overturn conventional methods of computation, opening new frontiers in science, medicine, and beyond.

Quantum entanglement is a phenomenon that occurs when two or more particles become interconnected in such a way that the state of one particle instantly influences the state of another, regardless of the distance separating them. This remarkable property is not just a curious aspect of quantum physics; it plays a pivotal role in modern information processing. In quantum computing, for example, entangled qubits can perform complex calculations at unprecedented speeds. Unlike classical bits, which can be either 0 or 1, entangled qubits exist in a state of superposition, allowing them to hold and process vast amounts of information simultaneously.

The implications of utilizing quantum entanglement extend beyond computing to several other domains, including cryptography and secure communication. With entangled particles, it becomes possible to develop quantum key distribution (QKD) systems that ensure data security by detecting eavesdropping attempts in real-time. This means that information transmission can be achieved with a significantly lower risk of interception or tampering. As researchers continue to explore the potential of quantum technologies, the role of entanglement in information processing is set to shape the future of data security and computational efficiency.

The world of computing is undergoing a radical transformation as we stand on the brink of leveraging quantum mechanics for information processing. Classical bits, which have long been the cornerstone of traditional computing, represent data as binary values—either 0 or 1. However, with the emergence of quantum computing, the potential of quantum quirks—such as superposition and entanglement—offers vastly superior capabilities for certain types of computations. These innovative phenomena challenge the foundational principles of classical bits, prompting questions about their readiness to coexist with or transition to a quantum framework.

As researchers delve deeper into the synergy between classical and quantum systems, several factors must be considered. For instance, how will classical bits interact with quantum bits (qubits) in a hybrid computing environment? Furthermore, exploring applications in fields like cryptography and optimization could illustrate the advantages and limitations of quantum quirks over traditional methods. Ultimately, while classical bits remain fundamental, their evolution in the context of quantum computing is crucial for paving the way toward a more efficient and powerful computing future.