Researchers of Australia and United States based universities, in association with BTQ, a quantum technology company, have unveiled research around a proof-of-work (PoW) mechanism for blockchain consensus dependent on quantum computing, as stated by Cointelegraph.
According to Cointelegraph, the research shows a structure that “provides dramatic speedup and energy savings relative to computation by classical hardware.” “Whereas classical PoW schemes such as Bitcoin’s are notoriously energy inefficient, our boson sampling-based PoW scheme offers a far more energy efficient alternative when implemented on quantum hardware,” the researchers stated.
Based on Cointelegraph, the paper mentioned that the scheme’s quantum benefit would provide difficulties to mining. From what it’s understood, this step would allow “maintain consistent block mining time,” with an increase in number of miners. Boson Sampling, the sampling process authorised by researchers, has reportedly shown potential with regard to quantum computing features.
Moreover, Cointelegraph noted that researchers have upheld it as an answer to future-proofing blockchain applications, which could reduce environmental impacts of mining on blockchains.
(With insights from Cointelegraph)
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