Apr 29, 2019 17:17 UTC
May 2, 2019 at 15:12 UTC
How To Use A Quantum Computer For Bitcoin Mining?
Quantum Computers are the next generation of computers, which have astounded everyone with their potential for solving large number of extremely complicated calculations, parallelly. But can they be used for Bitcoin Mining?
To answer it simply, yes. The kind of power that Quantum computers possess, can be very easily used for a process as energy intensive, as Bitcoin Mining.
It’s true that quantum computers are very different from your ordinary, run of the mill computers, because of the sheer power that they use, when it comes to computing. Which is why, they are also extremely expensive.
In this article, we will explain how Quantum Computers can be used for Bitcoin Mining.
How Can Quantum Computers Mine Bitcoins?
Well to begin with, let’s go over the process of Bitcoin Mining, and what it entails. The power of multiple computers, or nodes, are required to facilitate Bitcoin Mining.
The process requires these various computers to add blocks to the blockchain, by the Bitcoin miners. A new block is added on average once every 10 minutes or so, by an algorithm.
Well the part where quantum computers come in, is basically taking over for these multiple nodes. Instead of working in a Bitcoin mining pool, where number of computers are working together to mine the Bitcoins, a Quantum Computer can be used instead.
Quantum computers work, on the ideals of quantum physics, which believs that there are parallel worlds out there. Every time we make a decision, there are multiple future probabilities, that exist around us, parallelly.
Due to the ability of quantum computers, to make difficult problems much easier to solve, it can be a great alternative for these multiple nodes. The processing power can be distributed among numerous probable realities..
The quantum computer lets you try out all the different random numbers, which are needed to find the one combination that will allow hashing.
So, if you have 9 qubits, you can try out all the values from 1 to 511 simultaneously. The wuantum computer needs to be programmed differently, and more technical configurations need to be changed, but it is possible to use them as substitute for your regular nodes.
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