Microsoft and Atom Computing announce quantum breakthrough

The advancement has the potential to revolutionise proof-of-work blockchain mining by enabling quantum systems to surpass traditional methods.

Microsoft and Atom Computing have announced a significant breakthrough in quantum computing that could revolutionise blockchain mining. The two companies developed a quantum system with 24 entangled logical qubits using just 80 physical qubits, setting a new record in quantum efficiency. This achievement could eventually lead to a transformation in the world of proof-of-work (PoW) blockchain mining, as quantum systems become capable of outperforming traditional mining methods.

The advancement is especially notable for its potential to impact the security of blockchain networks like Bitcoin, which rely on SHA-256 encryption. Quantum computers, by applying Grover’s Algorithm, could significantly speed up the process of solving the PoW puzzle, threatening the security measures that have safeguarded blockchain technology. While Grover’s Algorithm has shown promise in small-scale experiments, it has yet to be proven on the large scale required for cracking SHA-256 encryption.

Though the timeline for practical quantum mining remains uncertain, with experts predicting it could take 10 to 50 years, Atom Computing and Microsoft aim to bring a 1,000-qubit quantum computer to market as early as 2025. This breakthrough could drastically shorten the path to quantum systems capable of rivaling traditional mining rigs.