The Advantage2 quantum processing unitD-Wave
A quantum computer is successfully mining cryptocurrency in the first experiment of its kind, while also using a lot less energy, researchers have claimed.
Cryptocurrencies overlap with quantum computing in two notable ways. The first is that a powerful-enough quantum computer could break the encryption algorithms that currently keep cryptocurrencies secure from hacking. The second is that several studies have shown that using quantum computers could slash cryptocurrencies’ otherwise staggering energy use.
To test this idea practically, Colton Dillion at Postquant Labs and his colleagues have set up an experimental blockchain network called Quip, which has been running since April. The blockchain is the technology behind cryptocurrencies, and is akin to a public ledger or a database in which users add new records by competing to complete a calculation called “proof of work.” For most cryptocurrencies, the winning computer is rewarded with coins, and the block that is added to the ledger makes that transaction permanent.
On Quip, the proof-of-work calculation is a type of optimization problem related to tasks such as finding the best way to schedule deliveries for a food service or assembling the ideal investment portfolio. While most of the computers participating in the Quip blockchain are conventional machines, the network also includes an Advantage2 computer built by D-Wave Quantum – and it seems to be beating the ordinary computers.
