Using Quantum Computing To Optimize Coin Mining

It seems that one of the biggest conundrums associated with coin mining are related to efficacy of hash rate vis-à-vis electricity costs. Our argument is that in order use a cost-effective miner one would need to create a “static-free” mining environment around the SHA-256, a cryptographic hash function. SHA-256 is the name of a technology which translates arbitrary or seemingly random data strings into a 256 Bit string, which is also known as the “hash”.

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Hash Rate and Grover’s Algorithm

For the sake of our argument, let us take a Quantum Mechanical approach and use the Grover Algorithm since it utilizes a a quadratic quantum speedup script. Let us conduct comparative analysis based on the probability of profitable mining of a block with probability sequencing based on  Trt /256, where “r” is the given hash rate ratio , and “t” represents the time via seconds.

For a miner running on Quantum algorithms such as Grover’s, the success probability is 2 by 256 sin or (2 / 2 ) q r t T [2]. This is what we refer to as the “quantum hash rate”. So if we assume that the maintenance cost for keeping a Quantum Computer up and running based on T, then the formula for projected profitability of Bitcoin mining via this type of device is  600 2 256 sin (2 / 2 ) t Re r t T Ct.

To conclude, if you can gain access to this type of computing power, it may be worth your while to optimize even more based on electricity costs per time of day. To explain, in many cases electricity costs are lower at night time when overall usage is relatively low. So if cost per ampere is “C”, then let “C2” represent more cost-efficient mining times during the day. Additionally, let us not confuse Quantum Computing with Quantum AI.





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