D-Wave Advantage2 Mines Quip Crypto With 100x Less Power, Winning 92% of Contested Blocks
Updated
Updated · New Scientist · Jun 12
D-Wave Advantage2 Mines Quip Crypto With 100x Less Power, Winning 92% of Contested Blocks
1 articles · Updated · New Scientist · Jun 12
Summary
12.5 watts of average power let D-Wave’s Advantage2 mine cryptocurrency on the experimental Quip blockchain, versus 1,334 watts for rival machines, in what researchers call a first quantum crypto-mining test.
5 minutes of daily access still gave the quantum system a clear edge: it competed for about one-third of new blocks and won 92% of those, suggesting an advantage on Quip’s optimization-based proof-of-work task.
Quip has been running since April and was designed to be quantum-safe, aiming to show performance on a decentralized network that outside participants can join and verify for themselves.
300 times more power might be needed for a conventional computer to beat Advantage2 more consistently, but researchers have not yet published detailed benchmarking and critics say quantum hardware’s capital and manufacturing costs could blunt any energy gains at scale.
Other firms including BTQ Technologies and Quandela are pursuing quantum proof-of-work, while Quip’s team plans more proof-of-work problems and links to non-D-Wave machines as it pushes toward a distributed quantum-computing network.
With quantum computers now mining crypto, has the race to break blockchain security officially begun?
If only quantum computers can mine, does this new technology destroy the ideal of decentralization?
Is 'green' quantum mining truly economical given the massive costs of quantum hardware and cooling?
Quip.Network’s Quantum-Classical Blockchain: Launching the World’s First Decentralized Quantum Mining Marketplace with 13,000+ Researchers
Overview
Quip.Network, developed by Postquant Labs, is pioneering a new era in blockchain by launching the first decentralized, worldwide quantum-classical blockchain. By open-sourcing its codebase on GitHub, Quip.Network invites the community to help build a secure and transparent infrastructure for the future of computing. The network uniquely integrates both quantum and classical computing for mining, creating a trustless marketplace where all operators are incentivized to contribute their computing power. This approach aims to set a transparent standard for quantum blockchain interactions, making advanced computational resources accessible and secure for everyone.