D-Wave Unveils New Blockchain Architecture To Slash Energy Usage

D-Wave Quantum Inc. QBTS has released a research paper presenting a new blockchain architecture that capitalizes on the company’s quantum breakthrough.

This advanced system integrates quantum computing with traditional blockchain processes, boosting both security and efficiency. The paper, titled “Blockchain with Proof of Quantum Work,” highlights how quantum methods can enhance blockchain technology.

The paper outlines a “proof of quantum” algorithm created by D-Wave, utilizing quantum computations to generate and verify blockchain hashes.

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At present, blockchain systems depend on hashing, a mathematical function that protects transactions, along with “proof of work” algorithms that are highly energy-consuming.

D-Wave’s findings propose that quantum computing could drastically lower the energy needed for these operations, potentially cutting energy usage by up to 1,000 times compared to conventional computing techniques, eventually reducing the environmental impact of blockchain technologies.

The company has also performed the inaugural demonstration of distributed quantum computing. This involved implementing the blockchain architecture across four cloud-based annealing quantum computers located in North America.

It represents the first instance of blockchain technology operating on a distributed quantum computing network.

The newly developed quantum-powered approach maps mathematical functions to complex spin glasses, simulated through D-Wave’s quantum systems, offering a new and more secure method of generating blockchain hashes. T

This quantum-based system is a departure from classical methods, enhancing the security of blockchain transactions and eliminating the need for classical computation in hash generation.

The technology can also benefit sectors such as supply chain management, healthcare, identity verification, and decentralized finance, beyond cryptocurrencies like Bitcoin.

Price Action: QBTS shares traded lower by 6.23% at $9.94 at last check Thursday.

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