We demonstrate, both numerically and analytically, that it is possible to generate two photons from one and only one photon. We characterize the output two photon field and make our calculations close to reality by including losses. Our proposal relies on real or artificial three-level atoms with a cyclic transition strongly coupled to a one-dimensional waveguide. We show that close to perfect downconversion with efficiency over 99% is reachable using state-of-the-art Waveguide QED architectures such as photonic crystals or superconducting circuits. In particular, we sketch an implementation in circuit QED, where the three level atom is a transmon.