- D-Wave’s research shows that quantum-based blockchain operations could use up to 1,000 times less electricity than classical computing methods.
- In an industry first, D-Wave successfully deployed blockchain operations across four of its cloud-based quantum computers in North America.
- The company’s proof of quantum work algorithm leverages quantum-generated hashes, providing an added security layer.
- The novel quantum blockchain architecture follows the company’s recent quantum supremacy demonstration, serving as another example of how D-Wave helps customers realize the value of quantum computing now.
D-Wave Quantum Inc. (NYSE: QBTS) (“D-Wave”), a leader in quantum computing systems, software, and services, has published a research paper introducing a new quantum blockchain architecture that could improve security and significantly reduce the electricity required for blockchain operations (https://nnw.fm/s9plY). The paper, “Blockchain with Proof of Quantum Work,” details how quantum computing can be used to generate and validate blockchain transactions more efficiently than classical computers (https://nnw.fm/VB2jI).
The company has also conducted the first-ever demonstration of distributed quantum computing for blockchain. This involved deploying the new blockchain architecture across four of its cloud-based quantum computers located in Canada and the United States. According to D-Wave, the results show that quantum computing can support stable blockchain operations across different generations of hardware. “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.
Traditional blockchains rely on hashing functions and proof of work (“PoW”) algorithms to validate transactions. These operations are computationally demanding and consume significant amounts of electricity. For example, Bitcoin mining alone is estimated to use as much electricity annually as Poland consumes.
D-Wave’s paper highlights how the company built and tested a “proof of quantum work” algorithm that uses quantum computation to generate and validate blockchain hashes. The research shows that replacing classical computation with quantum-based hashing and proof of work could lead to significant energy savings. The paper states that, in this context, the proof of quantum work algorithm could reduce electricity consumption by up to a factor of 1,000.
Furthermore, this algorithm could enhance security by generating blockchain hashes using quantum computation, instead of classical computers. By integrating quantum-generated hashes, the system can eliminate some of the vulnerabilities associated with traditional proof-of-work models.
D-Wave’s approach relies on programmable spin glasses, which were used in its recent quantum supremacy demonstration. These quantum-generated hashes provide a more complex security framework than classical methods, potentially making blockchain networks more resistant to attacks.
“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,” Dr. Amin added.
Blockchain technology has applications beyond cryptocurrency, including supply chain management, healthcare, identity verification, and decentralized finance. The introduction of quantum-powered blockchain could address some of the scalability and energy consumption challenges currently faced by blockchain networks.
D-Wave is inviting businesses and researchers to explore potential use cases for this technology. The D-Wave(TM) annealing quantum computers used in the company’s recent quantum supremacy demonstration and this new blockchain research are available for customers to use today via D-Wave’s Leap(TM) real-time quantum cloud service.
“Coming off the heels of our recent quantum supremacy demonstration, this serves as yet another example of how D-Wave is helping customers realize the value of quantum computing now,” said Dr. Alan Baratz, CEO of D-Wave. “We invite the blockchain community to work with us to utilize this exciting new use case for quantum computing.”
About D-Wave Quantum Inc.
D-Wave is a leader in the development and delivery of quantum computing systems, software, and services. We are the world’s first commercial supplier of quantum computers, and the only company building both annealing and gate-model quantum computers. Our mission is to help customers realize the value of quantum, today. Our 5,000+ qubit Advantage(TM) quantum computers, the world’s largest, are available on-premises or via the cloud, supported by 99.9% availability and uptime. More than 100 organizations trust D-Wave with their toughest computational challenges. With over 200 million problems submitted to our Advantage and Advantage2(TM) systems to date, our customers apply our technology to address use cases spanning optimization, artificial intelligence, research and more. Learn more about realizing the value of quantum computing today and how we’re shaping the quantum-driven industrial and societal advancements of tomorrow: www.dwavequantum.com.
NOTE TO INVESTORS: The latest news and updates relating to QBTS are available in the company’s newsroom at https://nnw.fm/QBTS
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