Can Bitcoin Be Broken? Debates Ignite as Google’s Willow Chip Pushes Quantum Boundaries

December 10, 2024 Bitcoin.com

Bitcoin

Following discussions about Google’s latest quantum computing chip, speculation is rife that Bitcoin’s days are numbered and its cryptography is at risk of being compromised. Google’s Willow Chip Launches Heated Bitcoin Discussions On Monday, the CEO of Google and its parent company, Alphabet Inc., Sundar Pichai shared an X thread introducing Willow, a cutting-edge quantum […]

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Microsoft breakthrough signals quantum-exclusive future for blockchain mining

November 28, 2024 Coin Telegraph

Atom Computing

The new hardware could ultimately host a theoretical algorithm with the potential to transform proof-of-work.

Microsoft and Atom Computing, a technology firm based in California, recently announced a breakthrough in quantum computing that could pave the way for a proof-of-work transformation in the world of blockchain mining.

Scientists and engineers from the two companies developed a quantum computing system made up of 24 entangled logical qubits produced by just 80 physical qubits — a feat that sets a new record for the highest number of entangled logical qubits achieved using error correction techniques.

The significance of this scientific breakthrough is in the teams’ achieved efficiency. Previous estimates have indicated that it could take thousands of physical qubits working in tandem to produce a single logical qubit.

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Quantum computer ‘threat’ to crypto is exaggerated — For now

October 21, 2024 Coin Telegraph

Coin Telegraph

Bitcoin’s private keys won’t be breached any time soon. But the industry still needs to transition to a “post-quantum cryptography.”

A report that Chinese researchers have employed a D-Wave quantum computer to breach encryption algorithms used to secure bank accounts, top-secret military data and crypto wallets is at first glance a matter for deep concern.

“This is the first time that a real quantum computer has posed a real and substantial threat to multiple full-scale SPN [Substitution-Permutation Network] structured algorithms in use today,” wrote Shanghai University scientists in a peer-reviewed paper, according to the South China Morning Post (SCMP) on Oct. 11.

The paper talks about breaking RSA (Rivest-Shamir-Adleman) encryption, one of the oldest and widely used public-key cryptosystems.

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China has not cracked encryption, at least not yet — Mental Outlaw

October 19, 2024 Coin Telegraph

China

Quantum bits currently require temperatures between approximately -200 degrees Celsius to -270 degrees Celsius to operate properly.

Researchers at Shangai University recently made headlines for purportedly breaking the RSA encryption algorithms used in banking, military, and cryptocurrency applications. However, popular YouTuber Mental Outlaw says the recent breakthrough in China lacks the power to impact current encryption standards due to severe computation and physical limitations.

According to the research paper, the quantum computer used in the experiment factorized the integer 2,269,753. Mental Outlaw noted that this surpassed records set by other quantum computers but failed to surpass the record set by classical computers.

The YouTuber clarified that the quantum computer only broke a 22-bit key. For context, the record set by classical computers was cracking an 892-bit key, which required a whopping 2,700 physical core years to break.

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Biggest fears about Bitcoin’s future: Industry weighs in

September 25, 2024 Coin Telegraph

Reddit’s Bitcoin community remains optimistic about BTC, but members are still eager to discuss the most valid concerns regarding Bitcoin's future.

Bitcoin (BTC) has achieved significant success since its inception, but some within the community remain concerned about its future.

On Sept. 14, a Redditor on the Bitcoin subreddit appealed to the community with a question on the most legitimate concerns about the future of BTC.

What scares you the most about Bitcoin’s future? Source: Reddit

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Physics for fintech: How quantum AI can make humans better crypto traders

August 31, 2024 Coin Telegraph

artificial intelligence

Scientists are using quantum algorithms to uncover new insights into how our brains learn and apply information.

Quantum computers are often referred to as a future technology that will give scientists and engineers a new tool with which to explore the deeper mysteries of the universe. But, based on a new study, they may end up making the whole species a little smarter.

A team of scientists in South Korea recently used a quantum computer to conduct research on how humans retain and retrieve information. This pioneering study could pave the way for new learning techniques to improve outcomes in fields such as science, mathematics, and finance.

There are numerous forms of quantum computing, though the industry remains in its infancy. Companies such as Google and IBM are heavily involved in developing what’s called “gate-based” quantum computers. These systems work in a somewhat similar fashion to modern digital circuits.

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The singularity: How AI could become the final boss whale of crypto

August 26, 2024 Coin Telegraph

artificial intelligence

World-renowned futurist Ray Kurtzweil says the singularity is coming sooner than expected.

Everyone from Elon Musk to the CEO of Google DeepMind has predicted that artificial intelligence will surpass human intelligence within a matter of decades. This scenario is often referred to as the AI singularity.

Big tech, academia, and governments around the world have started workshopping potential scenarios to deal with this hypothetical moment. While much has been written about the threat of a violent AI takeover, there’s little in the way of research concerning how a machine could corner the global economy.

Futurist Ray Kurzweil, a former Google researcher who’s considered a luminary in the field of technology, recently published a book entitled “The Singularity Is Nearer: When We Merge with AI.” In his text, he discusses what he views as our imminent future as the second-smartest beings on Earth.

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Quantum computers are advancing much faster than scientists expected

August 11, 2024 Coin Telegraph

artificial intelligence

Breakthroughs in scalability, error-correction, and infrastructure have led to an accelerated timeline for quantum advantage.

Quantum computing is one of those “just around the corner” technologies that has the scientific community split. Tech outfits such as Google and IBM have gone full throttle with both R&D and marketing as if they’re already here while many independent researchers have claimed quantum computers will never work.

Most people working in the field, however, believe that quantum computers will be able to solve problems that classical computers can’t within the next 10 years.

This is according to a recent survey of 927 people with associations to the field of quantum computing (researchers, executives, press, enthusiasts, etc.) conducted by QuEra. Of those surveyed, 74.9% “expect quantum to be a superior alternative to classical computing for certain workloads” within the next 10 years.

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German quantum breakthrough highlights need for particle physicists in crypto

August 3, 2024 Coin Telegraph

Amazon

German quantum breakthrough highlights need for particle physicists in crypto

Breakthrough quantum computing research out of Germany could lead to a revolution in particle physics with implications for finance, economics, and cryptocurrency. It might be time for firms in the crypto industry to add chief science officers and particle physicists to their portfolios.

Much like the tech industry before it, crypto has bootstrapped itself on the virtue of its own feats of engineering and innovation. The engineering and innovation it took to invent blockchain and cryptocurrency are, arguably, analogous to the advent of personal computing and the internet.

Over the past 20 years, however, the tech industry has shifted towards hard science. Perhaps it’s time for crypto to follow suit.

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Nvidia claims breakthrough on path to GPU-based quantum computing

July 19, 2024 Coin Telegraph

Coin Telegraph

Quantum annealing systems could impact the finance and blockchain industries in a major way.

Nvidia researchers are claiming noteworthy progress in the quest to build a fully functional, commercially viable quantum computer based on supercomputer simulations conducted with graphical processing units (GPUs).

While progress toward the development of a useful quantum computer has been steady for decades, physicists are still split on exactly what path to take towards their ultimate creation.

Quantum computers function differently from their classical counterparts. The computers we use every day, such as the one you’re reading this article on, rely on binary switches to conduct computations. But their quantum cousins exploit the nature of physics, through the use of qubits, to conduct much more complex computations than ones and zeros alone are capable of.

quantum computing

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