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a newly published research paper A team of researchers from Australian and US universities, in collaboration with quantum technology company BTQ, has proposed a new approach to proof-of-work (pow) consensus mechanism based on boson sampling.
The proposed proof-of-work system, known as “proof-of-work consensus by quantum sampling”, takes advantage of quantum computing techniques to achieve faster and more energy-efficient verification of consensus.
Traditional PoW algorithms are used in bitcoin for example (B T c) are known for their slow processing speed and high energy consumption, but according to the researchers their proposed alternative would be significantly more energy efficient when implemented on quantum hardware.
The paper further claimed that another advantage with the proposed system is that it increases the mining difficulty as more miners join the network, thus ensuring a consistent block mining time.
This encourages the participation of “quantum miners” in the network, the researchers said.
The paper was shared on Twitter by Peter Rohde, a researcher at the University of Technology Sydney, who co-authored it:
Quantum computing is not a new concept
While boson sampling is not a new concept in quantum computing, its application in blockchain technology presents a unique opportunity.
As a non-universal quantum computing solution, boson sampling was previously limited to only specific industries.
According to the researchers, however, the technology could be an ideal solution for future-proofing blockchain networks and reducing the energy consumption of mining.
The researchers explain that quantum hardware has an inherent advantage over classical supercomputers in the context of blockchain mining, given its ability to validate consensus more efficiently than classical hardware.
He added that the proposed fusion of quantum computing and blockchain technology opens up new possibilities for the future of cryptocurrencies and decentralized systems, while noting that it could pave the way for faster, more secure and environmentally friendly blockchain networks.
