Postquant Labs Unveils Quantum-Classical Blockchain Testnet
- Postquant Labs launched Quip Network, a blockchain testnet enabling mining with quantum and traditional hardware.
- The system replaces Bitcoin-style hashing with optimization problems based on the Ising model.
- Miners earn QUIP tokens, which can be used to rent time on quantum computers connected to the network.
- D-Wave’s Advantage2 annealing quantum computers are used in the proof-of-work process.
- The energy required to mine a block is about as much as a light bulb uses in an hour (13 watts).
Quip Network offers a new approach to crypto mining by leveraging quantum computing capabilities alongside conventional methods. This innovation could potentially reduce energy consumption compared to traditional Bitcoin mining processes.
The network aims to track progress toward breaking Bitcoin’s cryptography, highlighting its potential impact on blockchain security (Source).
