D-Wave quantum blockchain boosts security and efficiency
D-Wave Quantum has published a new research paper presenting a novel blockchain architecture that employs techniques from its quantum supremacy demonstration. By integrating quantum technology into traditional blockchain computation, the new architecture has the potential to enhance both blockchain security and efficiency.
Essentially, D-Wave researchers built and tested a “proof of quantum” algorithm that employs quantum computation to generate and validate blockchain hashes. Blockchains depend on hashing, a mathematical function that acts like a digital fingerprint. Hashing is used to encrypt transactions, while “proof of work” algorithms validate those transactions. The blockchain architecture was deployed across four D-Wave cloud-based annealing quantum computers in Canada and the United States, performing distributed quantum computing for the first time.
Classical computers currently employed for hashing and proof of work consume substantial amounts of electricity. Each year, the power consumption of Bitcoin alone is estimated to be comparable to the energy usage of the entire country of Poland. However, employing quantum computation for hashing and proof of work could require only a fraction of the electricity used by classical resources, potentially reducing electricity costs by up to a factor of 1,000.
“In an industry first, D-Wave is delivering a new quantum blockchain architecture with potential for broad usage across businesses,” said Dr. Alan Baratz, CEO of D-Wave. “Coming off the heels of our recent quantum supremacy demonstration, this serves as yet another example of how D-Wave is helping customers realise the value of quantum computing now.”
The new quantum-powered method securely and efficiently creates hashes by mapping mathematical functions to the complex programmable spin glasses simulated in D-Wave’s recent supremacy demonstration. The proof of quantum algorithm presented in the paper is designed to incorporate hashes generated by a quantum computer, excluding classical computation from the process and adding an enhanced layer of security.
An illustration from a new research paper published by D-Wave introducing a novel blockchain architecture that leverages the company’s quantum supremacy achievement. It depicts how a “proof of quantum” algorithm developed by D-Wave uses quantum computation to generate and validate blockchain hashes.
“This is the first time a blockchain has successfully operated on a distributed network of four quantum computers across two countries,” said Dr. Mohammad Amin, chief scientist at D-Wave. “Despite spanning two generations of D-Wave annealing quantum computers with different architectures and fabrication stacks, the systems’ outputs were able to cross-validate each other and facilitate stable blockchain operation for thousands of transaction blocks. We believe that this approach could significantly reduce energy consumption and enhance security.”
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