- D-Wave Quantum (QBTS) announces a new blockchain architecture uses quantum computing to enhance security and efficiency, potentially reducing electricity costs by up to 1,000 times compared to traditional systems that consume power equivalent to Poland’s annual usage for Bitcoin alone.
- Successfully tested across four quantum computers in Canada and the U.S., this marks the first distributed quantum blockchain operation, showcasing a practical, energy-saving alternative for secure transaction validation.
D-Wave Quantum (QBTS) has unveiled a novel blockchain architecture that taps into the power of quantum computing, a technology that uses the strange rules of quantum physics to solve problems faster than regular computers in some cases. This new system, detailed in their research paper “Blockchain with Proof of Quantum Work,” aims to make blockchain – the tech behind things like Bitcoin (BTC) – more secure and way less power-hungry. Imagine blockchain as a super-secure digital ledger that records transactions using something called hashing, which is like creating a unique code for each entry. Normally, regular computers do this hashing and a process called “proof of work” to verify transactions, but it takes a ton of electricity—Bitcoin alone uses as much power as the entire country of Poland each year. D-Wave’s idea is to use their quantum computers instead, which could slash that energy use by up to 1,000 times, saving money and helping the planet.
What’s really cool is that D-Wave didn’t just dream this up—they built and tested it across four of their cloud-based quantum machines in Canada and the U.S., marking the first time a blockchain ran on a spread-out network of quantum computers. These machines, despite being different models, worked together to churn out and check those unique codes for thousands of transaction blocks, showing this isn’t just a theory but something that works. Dr. Alan Baratz, D-Wave’s CEO, says this could be a game-changer for businesses, building on their recent quantum supremacy demo—proof they can do things regular computers can’t. Dr. Mohammad Amin, their chief scientist, adds that this quantum-powered “proof of quantum” method ditches traditional computing entirely for hashing, adding an extra security boost. D-Wave’s inviting the blockchain world to jump in and explore this quantum leap forward, which could mean faster, safer, and greener digital transactions for everyone.
This news, however, does not appear to have positively impacted D-Wave’s shares, which are down 5.55% to $10.00 in early trading on Thursday.
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