BTQ Proposes Quantum-Based Alternative To Proof Of Work

According to CoinDesk, researchers at BTQ, a startup focused on developing blockchain technology resilient to quantum computer attacks, have introduced a new approach to the Proof of Work (PoW) algorithm using quantum technology. PoW is a consensus mechanism that secures the Bitcoin network by requiring participants to solve complex mathematical problems to validate transactions. While some criticize this process for its high energy consumption, others defend its necessity. Quantum computing represents a shift from traditional binary code, which relies on ones and zeros to operate transistor gates. Quantum bits, or qubits, can exist in multiple states at once, dramatically enhancing computational power and posing a threat to modern encryption methods based on classical computing. In their paper, BTQ researchers propose a quantum-based alternative known as Coarse-Grained Boson Sampling (CGBS). This method utilizes light particles, or bosons, to create unique patterns that represent the blockchain's current state, replacing the hash-based puzzles used in PoW. The random sampling of these patterns would generate encryption similarly to how random numbers underpin encryption in classical computing. Originally, boson-sampling was developed to demonstrate quantum supremacy, a concept indicating when a mathematical problem is too complex for classical computers. In CGBS, these samples are organized into categories, or bins, simplifying the validation process and confirming the miner's work. This approach substitutes traditional cryptographic puzzles with quantum sampling tasks, potentially reducing energy consumption while maintaining network security and decentralization. However, implementing BTQ's proposal would necessitate a hard fork of the Bitcoin network, requiring miners and nodes to replace their current ASIC-based hardware, designed specifically for PoW, with quantum-ready infrastructure. This transition would be a monumental task and could lead to a network split, reminiscent of the Blocksize Wars from previous years.