Cookie Consent by Free Privacy Policy Generator
Search
Close this search box.

Quantum Pioneer Lov Kumar Grover to Serve as Consultant to Quantum Blockchain Technologies

gold and black round emblem

Insider Brief

  • Quantum Blockchain Technologies has retained Dr. Lov Kumar Grover  as a special consultant to assess the company’s quantum mining algorithm.
  • Grover authored the first quantum algorithm for database searches while he was a scientist at AT&T Bell Labs.
  • Grover’s Algorithm improves the speed, accuracy and efficiency of using large databases by employing quantum computing, which is relevant to mining Bitcoin, according to the company.

PRESS RELEASE — The board of Quantum Blockchain Technologies (AIM: QBT) announced  that it has retained Dr. Lov Kumar Grover  as a special consultant for the theoretical assessment of the company’s proprietary quantum version of SHA-256, a quantum mining algorithm.

Grover is a pioneer in quantum computing research and development. He authored the first quantum algorithm for database searches while he was a scientist at AT&T Bell Labs. Grover’s Algorithm markedly improves the speed, accuracy and efficiency of using large databases by employing quantum computing. This algorithm should have fundamental relevance to the complex task of mining Bitcoin.

Grover has been retained by QBT on an initial contract of 3 months and has been granted 5 million warrants.

Francesco Gardin, CEO and Chairman commented: We are extremely pleased that Dr. Grover has joined our team. As a leading light in the sector, his profound knowledge of quantum computing theory and optimisation will prove essential for further refining the proprietary SHA-256 quantum version developed by QBT. “In science, like in many other human endeavours, it is the people who make the difference. In our case, we believe that Dr. Grover’s contribution to verifying the theoretical correctness of our quantum version of the SHA-256 algorithm will be key to the success of our project.”

Responsive Image

Grover commented: “QBT is lucky to have, what is, perhaps, the best management team in the area of quantum. Both Francesco and Rita are thoroughly straightforward, honest and transparent in their operations and dealings with others – it is a pleasure to work with them.”

The Company further reports that following the results achieved by its Quantum Computing R&D team over the last 12 months, with respect to the so called “quantum mining” algorithm, focus has now moved to the patent filing stage.

Final theoretical checks on the quantum computing version of the SHA-256 algorithm, the core engine for BTC mining, are being carried out before the Company drafts its patent application.

For more market insights, check out our latest quantum computing news here.

The Future of Materials Discovery: Reducing R&D Costs significantly with GenMat’s AI and Machine Learning Tools

When: July 13, 2023 at 11:30am

What: GenMat Webinar

Picture of Jake Vikoren

Jake Vikoren

Company Speaker

Picture of Deep Prasad

Deep Prasad

Company Speaker

Picture of Araceli Venegas

Araceli Venegas

Company Speaker

Matt Swayne

With a several-decades long background in journalism and communications, Matt Swayne has worked as a science communicator for an R1 university for more than 12 years, specializing in translating high tech and deep tech for the general audience. He has served as a writer, editor and analyst at The Quantum Insider since its inception. In addition to his service as a science communicator, Matt also develops courses to improve the media and communications skills of scientists and has taught courses. [email protected]

Share this article:

Keep track of everything going on in the Quantum Technology Market.

In one place.

Join Our Newsletter