Quantum Startup BTQ Proposes Energy Efficient Alternative to Proof of Work
Researchers at BTQ proposed a quantum-based alternative to the Proof of Work (PoW) algorithm for blockchain security. Key points include:
- Current PoW, used by Bitcoin, is criticized for high energy consumption.
- Quantum computing uses qubits, allowing for greater computational power and posing risks to classical encryption.
- BTQ's method, Coarse-Grained Boson Sampling (CGBS), utilizes light particles to create unique patterns reflecting the blockchain state.
- This approach replaces PoW's cryptographic puzzles with quantum sampling tasks, potentially reducing energy use while maintaining security.
- Implementing CGBS would require a hard fork of the Bitcoin network and new quantum-ready hardware.
- A transition could mirror past challenges like the Blocksize Wars.