Quantum Computing Meets Blockchain: Scientists Propose New Version of Proof of Work Consensus – Future of Crypto?
A newly published research paper from a team of researchers from Australian and American universities, in collaboration with quantum technology company BTQ, has proposed a new approach to the proof-of-work (PoW) consensus mechanism based on boson sampling.
Traditional PoW algorithms used in for example Bitcoin (BTC) are known for their slow processing speeds and high energy consumption, but according to the researchers their proposed alternative will be significantly more energy-efficient when implemented on quantum hardware.
