The lower energy consumption in cryptocurrency mining processes by SHA-256 Quantum circuit design used in hybrid computing domains
Fuente:
arXiv
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| Autores principales: | , |
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| Formato: | Preprint |
| Publicado: |
2023
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| _version_ | 1866917571634135040 |
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| author | Orun, Ahmet Kurugollu, Fatih |
| author_facet | Orun, Ahmet Kurugollu, Fatih |
| contents | Cryptocurrency mining processes always lead to a high energy consumption at considerably high production cost, which is nearly one-third of cryptocurrency (e.g. Bitcoin) price itself. As the core of mining process is based on SHA-256 cryptographic hashing function, by using the alternative quantum computers, hybrid quantum computers or more larger quantum computing devices like quantum annealers, it would be possible to reduce the mining energy consumption with a quantum hardware's low-energy-operation characteristics. Within this work we demonstrated the use of optimized quantum mining facilities which would replace the classical SHA-256 and high energy consuming classical hardware in near future. |
| format | Preprint |
| id |
arxiv_https___arxiv_org_abs_2401_10902 |
| institution | arXiv |
| publishDate | 2023 |
| record_format | arxiv |
| spellingShingle | The lower energy consumption in cryptocurrency mining processes by SHA-256 Quantum circuit design used in hybrid computing domains Orun, Ahmet Kurugollu, Fatih Emerging Technologies Cryptography and Security Quantum Physics Cryptocurrency mining processes always lead to a high energy consumption at considerably high production cost, which is nearly one-third of cryptocurrency (e.g. Bitcoin) price itself. As the core of mining process is based on SHA-256 cryptographic hashing function, by using the alternative quantum computers, hybrid quantum computers or more larger quantum computing devices like quantum annealers, it would be possible to reduce the mining energy consumption with a quantum hardware's low-energy-operation characteristics. Within this work we demonstrated the use of optimized quantum mining facilities which would replace the classical SHA-256 and high energy consuming classical hardware in near future. |
| title | The lower energy consumption in cryptocurrency mining processes by SHA-256 Quantum circuit design used in hybrid computing domains |
| topic | Emerging Technologies Cryptography and Security Quantum Physics |
| url | https://arxiv.org/abs/2401.10902 |