The use of entanglement renormalization in the presence of scale invariance is investigated. We explain how to compute an accurate approximation of the critical ground state of a lattice model, and how to evaluate local observables, correlators and critical exponents. Our results unveil a precise connection between the multi-scale entanglement renormalization ansatz (MERA) and conformal field theory (CFT). Given a critical Hamiltonian on the lattice, this connection can be exploited to extract most of the conformal data of the CFT that describes the model in the continuum limit.
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