Research paper around blockchain’s proof-of-work mechanism released

Researchers of Australia and United States based universities, in association with BTQ, a quantum technology company, have unveiled research around a proof-of-work (PoW) mechanism for blockchain consensus dependent on quantum computing, as stated by Cointelegraph.

According to Cointelegraph, the research shows a structure that “provides dramatic speedup and energy savings relative to computation by classical hardware.” “Whereas classical PoW schemes such as Bitcoin’s are notoriously energy inefficient, our boson sampling-based PoW scheme offers a far more energy efficient alternative when implemented on quantum hardware,” the researchers stated.