A pair of scientists from the College of Kent’s Faculty of Computing in the UK just lately carried out a research evaluating vitality consumption charges for present ASIC-based miners to proposed quantum-based options.
In response to the staff’s preprint analysis paper, the techniques using quantum computing demonstrably outperformed customary mining rigs in vitality effectivity:
“We present that the transition to quantum-based mining might incur an vitality saving — by comparatively conservative estimates — of about roughly 126.7 TWH, or put in a different way the overall vitality consumption of Sweden in 2020.”
Bitcoin mining operations alone consumed greater than 150 terawatt hours yearly (as of Might 2022), per the paper, placing into perspective the potential affect the proposed quantum-based techniques might have.
The pair’s conclusions have been primarily based on experiments evaluating three totally different quantum mining techniques to an Antminer S19 XP ASIC miner.
The quantum mining units have been cut up between a system that includes a single layer of fault tolerance, one other one with two layers of fault tolerance and one with none devoted error-correction options.
Because the researchers level out, blockchain mining is among the few areas of quantum computing the place error correction isn’t such an enormous deal. In most quantum capabilities, errors create noise that functionally restrict a computing system’s capability to provide correct computations.
In blockchain mining, nevertheless, success charges with state-of-the-art classical techniques are nonetheless comparatively low. Per the analysis paper, “A classical Bitcoin miner is worthwhile with solely a success-rate of about 0.000070%.”
The researchers additionally word that, not like classical techniques, quantum-based techniques can truly be fine-tuned over time for elevated accuracy and effectivity.
Associated: How does quantum computing affect the finance business?
Whereas quantum computing know-how remains to be thought-about to be in its infancy, the very particular drawback of blockchain mining doesn’t require a full-service quantum computing resolution. Because the researchers put it, “a quantum miner isn’t, and needn’t be, a scalable, common quantum pc. A quantum miner want solely carry out a single job.”
In the end, the researchers conclude that it ought to be doable to construct miners utilizing present quantum applied sciences that exhibit quantum benefit over classical computer systems.
Regardless of the potential vitality financial savings, it bears point out that the researchers centered on a kind of quantum computing system referred to as a “noisy intermediate-scale quantum” (NISQ) system.
In response to the preprint paper, quantum miners ought to exhibit “large” vitality financial savings at a dimension of round 512 quantum bits, or “qubits” — a time period considerably analogous to classical computing bits.
Usually, nevertheless, NISQ techniques solely function with about 50-100 qubits, although there doesn’t seem like an business customary.
Whereas the vitality financial savings could be possible, the prices of constructing and sustaining a quantum computing system within the 512 qubit vary have, historically, been prohibitive for many organizations.
Solely D-Wave and IBM supply client-facing techniques in the identical vary (D-Wave’s D2 is a 512-qubit processor, and IBM’s Osprey weighs in at 433), however their architectures differ so significantly that comparisons between their qubit counts are ostensibly meaningless.
