Page 1,341«..1020..1,3401,3411,3421,343..1,3501,360..»

Bitfarms Q1 Bitcoin production rose 35% to 1,297 BTC YOY – CryptoSlate

What is CryptoSlate Alpha?

CryptoSlate Alpha is a membership designed to empower you with cutting-edge insights and knowledge, built on top of Access Protocol. More about CryptoSlate Alpha

Welcome! You are connected to CryptoSlate Alpha. To manage your wallet connection, click the button below.

It looks like you do not hold enough ACS in order to connect. You must have a minimum of 20,000 ACS in your wallet to stake and pay the 2% protocol fee.

Access Protocol is a web3-enabled monetization paywall. When users stake ACS, they get access to paywalled content and data. More about Access Protocol

Disclaimer: By choosing to lock your ACS tokens with CryptoSlate, you accept and recognize that you will be bound by the terms and conditions of your third-party digital wallet provider, as well as any applicable terms and conditions of the Access Foundation. CryptoSlate shall have no responsibility or liability with regard to the provision, access, use, locking, security, integrity, value, or legal status of your ACS Tokens or your digital wallet, including any losses associated with your ACS tokens. It is solely your responsibility to assume the risks associated with locking your ACS tokens with CryptoSlate. For more information, visit our terms page.

See the original post:
Bitfarms Q1 Bitcoin production rose 35% to 1,297 BTC YOY - CryptoSlate

Read More..

Long-Term Bitcoin Holders Gobble Up $13,400,000,000 Worth of BTC in Q1 2023: Analytics Firm IntoTheBlock – The Daily Hodl

New data from crypto analytics platform IntoTheBlock reveals that long-term Bitcoin (BTC) holders snapped up billions of dollars worth of the king crypto in Q1 2023.

In a new report, IntoTheBlock says that long-term investors of Bitcoin and Ethereum (ETH) have significantly increased their exposure to the digital assets in Q1 of 2023, which historically could mean that these entities wont likely sell until BTC and ETH closes in on their all-time highs.

The amount of Bitcoin and Ether owned by hodlers continues to hit all-time highs.

Addresses holding assets for over a year have increased their holdings by $13.4 billion and $4.7 billion of Bitcoin and Ether respectively so far in 2023. If history from previous bull markets repeats, these addresses are unlikely to sell until we approach previous all-time highs.

According to the market intelligence firm, Q2 2023 could harbor potential catalysts for the leading two digital assets, such as ETHs upcoming Shanghai upgrade and BTCs next halving cycle, which is viewed as a force behind crypto cycles.

IntoTheBlock says that ETHs upgrade could cause short-term sell pressure due to the addition of staking withdrawals, but long-term, it could be seen as bullish because it encourages more users to stake.

The firm also says that investors should keep an eye on key prices levels for Bitcoin and Ethereum. According to IntoTheBlock, investors accumulated around $17 billion worth of BTC at $27,000 and $15.1 billion in ETH at about $1,700.

$27,000 and $1,700 for Bitcoin and Ether, respectively, are the levels to watch near-term as they have the largest concentration of buyers, with 623,800 BTC (~$17 billion) and 8.4 million ETH (~$15.1 billion) being acquired at this level.

If prices were to breach this level, there is not much support based on previous buying patterns until $24,500 and $1,500 for Bitcoin and Ether.

On the selling side, recent highs of $29,000 and $1,850 have pressure from addresses that previously bought around that area, but there is not much further resistance if prices climb beyond those levels.

Generated Image: Midjourney

Link:
Long-Term Bitcoin Holders Gobble Up $13,400,000,000 Worth of BTC in Q1 2023: Analytics Firm IntoTheBlock - The Daily Hodl

Read More..

This is what dedollarization would do to Bitcoin – FXStreet

Dedollarization is a concept that has been around for a long time now but has only begun taking shape over the last few years. While Crypto was built to be a global currency, independent from other currencies, the devaluation of the US Dollar (USD) might play in its favor, making its aim a reality.

Dedollarization is the devaluation faced by the USD due to other currencies taking its place as the worlds reserve currency used for trading Oil and other commodities. The eroding trust in banks and the Federal Reserve is driving countries away from the US Dollar, pushing them to use their own currencies instead. This discussion is heating up more at the moment due to the recent macroeconomic developments.

USD is becoming weaker by the day as rising inflation and declining geopolitical relations have sent people looking into other options. Many countries, for the same reason, have pulled away from using the Dollar for bilateral trades and have shifted towards their own currencies. China is the biggest country when it comes to using its national currency for trade, as it already has agreements with Australia, Russia, Japan, Brazil, and Iran.

Recently BRICS member Russias Deputy Chairman of the State Duma Alexander Babakov also stated that the member countries could create their own currency backed not by gold but land and rare earth metals. Adding to the possibility, Babakov said,

Most likely, this will be doneNeither the Euro nor the Dollar is backed by anything, and our countries can do what was destroyed by the Bretton Woods system.

This could result in USD losing its presence from a major chunk of the global economic activity, further weakening its strength as the use of the likes of the Chinese Yuan could see an increase in settling transactions between countries.

However, apart from the Yuan, the weakening of the USD could also act as a boost for cryptocurrencies.

At the moment, the USD is the worlds major currency and dedollarization would lead to a reduced circulation of the currency, resulting in lower liquidity. Consequently, the stock market could note a bearish period which usually also impacts the crypto market.

This is because following the Covid-19 crash, Bitcoin and Cryptos correlation with the stock market increased. The Nasdaq100 and S&P 500 dictated the digital assets path, which took away BTCs inflation hedge status until the recent banking crisis.

With the Silicon Valley Bank, Silvergate bank and Signature bank failing, Bitcoin decoupled itself from the stock markets and rallied to its current trading price of $28,200. With faith in banks decreasing and the Federal Reserve suggesting higher interest rate hikes going forward the TradFi market could see some bearish effects.

Additionally, Bitcoins rising correlation with Gold is also rising by the day reaching 0.92 on April 3. Throughout 2022 this correlation stood far lower due to the volatility, but the current conditions strengthen the assets safe-haven status, which could drive hyperbitcoinization.

Hyperbitcoinization is known as the transition of Bitcoin into the worlds most dominant form of currency, which many predict is not too far. One of Bitcoins biggest supporters, former Coinbase Chief Technical Officer (CTO) Balaji Srinivasan, even went on to make a $1 million bet with pseudonymous Twitter speaker James Medlock on March 17 that BTC would be worth $1 million within the next 90 days.

Explaining this bet, Srinivasan noted that this million-Dollar bet was not about winning or rallying Bitcoin price but about settling the ideological discussion surrounding USD inflation. He explained his statement by saying,

I believe Medlock will agree that this is an ideological bet, like the Simon-Ehrlich bet, which resolved a famous difference of opinion between libertarians and progressives.

While many consider this to be just a publicity stunt, Balaji himself stated that his declining faith in banks and belief in Bitcoin is what drove him to make the bet in the first place.

Original post:
This is what dedollarization would do to Bitcoin - FXStreet

Read More..

Senator Warren says banks have done really bad jobs, advocates for CBDCs instead of Bitcoin – CryptoSlate

What is CryptoSlate Alpha?

CryptoSlate Alpha is a membership designed to empower you with cutting-edge insights and knowledge, built on top of Access Protocol. More about CryptoSlate Alpha

Welcome! You are connected to CryptoSlate Alpha. To manage your wallet connection, click the button below.

It looks like you do not hold enough ACS in order to connect. You must have a minimum of 20,000 ACS in your wallet to stake and pay the 2% protocol fee.

Access Protocol is a web3-enabled monetization paywall. When users stake ACS, they get access to paywalled content and data. More about Access Protocol

Disclaimer: By choosing to lock your ACS tokens with CryptoSlate, you accept and recognize that you will be bound by the terms and conditions of your third-party digital wallet provider, as well as any applicable terms and conditions of the Access Foundation. CryptoSlate shall have no responsibility or liability with regard to the provision, access, use, locking, security, integrity, value, or legal status of your ACS Tokens or your digital wallet, including any losses associated with your ACS tokens. It is solely your responsibility to assume the risks associated with locking your ACS tokens with CryptoSlate. For more information, visit our terms page.

Continue reading here:
Senator Warren says banks have done really bad jobs, advocates for CBDCs instead of Bitcoin - CryptoSlate

Read More..

Bitcoin Addresses With At Least 1 BTC Nears A Million, BTC Steadies Above $28,000 – NewsBTC

The number of unique Bitcoin addresses holding at least 1 BTC, currently worth $28,181 as of writing on April 3, stands at 992,243.

According to Look Into Bitcoin data, the number of holders with at least 1 BTC has steadily increased. This could suggest that despite price volatility, the coin has been finding traction and being adopted by supporters, including entities and governments.

Paralleldata from BitInfoCharts reveals that of all the circulating supply, individuals with more than 1 BTC comprise less than 3% of all addresses. As an illustration, addresses holding between 100 and 1,000 BTC stood at 14,004, representing 0.03%. Only four addresses held between 100,000 and 1 million BTC. The tracker revealed that most BTC addresses had between 0.0001 and 0.001 BTC.

Bitcoin whales were mostly exchanges, with one wallet associated with Binance, a cryptocurrency exchange holding 248,597 BTC. Another by Bitfinex, one of the earliest crypto exchanges, held 178,010 BTC.

In late October 2010, less than 60,000 unique addresses held 1 BTC. However, this has increased by almost 15X in the last 12 years, signaling acceptance. A noteworthy observation, in this case, is that the number of holders with at least 1 BTC has been steadily rising despite a sharp increment in price.

Throughout 2020 and 2021, BTC holders kept accumulating, unfazed by rapidly increasing prices following governments intervention to mitigate the risks of the COVID-19 pandemic.

In 2022, dropping prices catalyzed demand and accumulation for proponents during the last crypto winter. There was a noticeable increase in BTC addresses last year when prices tanked to as low as $15,000 in Q4 2022, triggered by the collapse of several CeFi platforms, like Voyager and Three Arrow Capital (3AC).

The bankruptcy of crypto exchange FTX broke Bitcoin, forcing it to a 2022 low of around $15,000. Since that time, the cryptocurrency has bounced to its current levels.

Bitcoin is a public network enabling users to move value, even across borders, without needing a third party. All BTC transactions are bundled into a block, confirmed, and sent to a different address at any time.

In this way, users can send funds fir a low fee without the intervention of a third party, such as a bank or money transfer agency. The Bitcoin network remains one of the most resilient, with an uptime close to 100%. The network has been continuously operating since launching in early 2009.

El Salvador became the first country to make BTC legal tender. Other countries, including the Central African Republic, also support the coin. The United States Securities and Exchange Commission (SEC), led by Gary Gensler, also recognizes Bitcoin as a commodity.

Feature Image From Canva, Chart From TradingView

Link:
Bitcoin Addresses With At Least 1 BTC Nears A Million, BTC Steadies Above $28,000 - NewsBTC

Read More..

Bitcoin SOPR Plunges, Why This Could Be Bullish – NewsBTC

On-chain data shows the Bitcoin Spent Output Profit Ratio (SOPR) has plunged recently; heres why this may be bullish for the price.

As an analyst in a CryptoQuant post pointed out, many investors have sold at a loss recently. The SOPR is an indicator that tells us whether investors are currently selling at a loss or a profit.

This metric looks at the on-chain history of each coin being sold or moved to see the price at which it was previously transferred. If this last selling price for any coin was less than the price its being sold, then the investor realizes a profit with the sale. Similarly, the coins being sold at a loss in the opposite scenario.

When the value of this indicator is greater than 1, it means the number of profits being realized is greater than the losses right now. This suggests that the average investor is moving coins at a profit.

On the other hand, the metric having a value below this threshold implies loss realization is more dominant in the market. Naturally, the SOPR being equal to 1 suggests the holders break even on their selling.

Now, here is a chart that shows the trend in the Bitcoin SOPR over the last few years:

As displayed in the above graph, the Bitcoin SOPR has been above 1 for much of the year 2023 so far. This means that the average investor has been selling at a profit during this period.

This trend makes sense, as the assets price has observed some strong bullish momentum in the last few months. Rallies like these naturally entice investors to harvest their gains, hence why profit selling spikes during such price surges.

However, the indicator saw a sharp plunge a couple of days back, and its value dipped below the 1 level. This suggests that some holders have just realized a large number of losses.

In the chart, the quant has marked the points where similar downward spikes in the metric were observed during the last few years. Interestingly, whenever the indicator has sharply plummeted, the price has bottomed out and followed up with a rise.

Such spikes in the Bitcoin SOPR are usually a sign of capitulation from the loss holders. When these investors finally sell, coins move toward holders with stronger convictions, and the selling pressure starts getting exhausted. This is likely why the price bottoms out close to such capitulation events.

Earlier in the current rally, when BTC had also plunged below the $20,000 mark, the SOPR saw such a spike. The latest stretch in the rally, which has taken the price above $28,000, followed it.

If this same pattern that has been seen time and time again repeats for the latest SOPR plunge as well, then Bitcoin could feel a bullish effect from it. However, something different about the recent loss selling is that it has come while the price has already been at a relatively high levels of $28,000.

All the previous instances of this trend came when the price had been facing a bearish wind overall. It remains to be seen whether this difference may lead to a different outcome for the price this time.

At the time of writing, Bitcoin is trading around $28,100, up 4% in the last week.

Featured image from Michael Frtsch on Unsplash.com, charts from TradingView.com, CryptoQuant.com

View original post here:
Bitcoin SOPR Plunges, Why This Could Be Bullish - NewsBTC

Read More..

Bitcoin’s correlation with stocks is at its lowest since 2021 as … – CNBC

Bitcoin has climbed steadily in March and is on pace to post its third positive month in a row , but its narrative has been on a wild ride over the past few weeks. The cryptocurrency has spent much of the past two years trading in lockstep with equities, but that trend has been coming apart since the beginning of 2023. The break became more noticeable in March, as investors rediscovered bitcoin's appeal as alternative banking system as the regional banking crisis unfolded. Bitcoin's correlation with the S & P 500 is now at its lowest since September 2021, after reaching its highest ever in 2022 , according to Coin Metrics. Meanwhile, bitcoin's correlation with gold, a traditionally "risk-off" asset, has risen. "Investors are beginning to view bitcoin as a hedge against the ongoing banking crisis and as a hard asset in this period of high inflation," said Sam Callahan, analyst at bitcoin services provider Swan Bitcoin. "Bitcoin's value proposition is fundamentally different in that it's driven by its network effect and its scarcity rather than, say, earnings growth with equities. This break in correlation is perhaps a sign more investors are waking up to this fact." Bitcoin became more of an institutional asset at the start of 2021 as big investors, short term traders and macro funds jumped into the market. Government stimulus, Fed monetary policy tightening and other economic concerns that drive the sentiment of these types of investors have also driven bitcoin prices up and down since then. The longer-term thesis never fully disappeared, however. "These correlation data show that, at least recently, bitcoin has indeed performed more like a safe-haven asset than a risk asset," Alex Thorn, head of firmwide research at Galaxy Digital, said in a recent note. "Given the nature of the current crisis in which the fractional reserve banking system's core limitations are tested bitcoin's fundamental characteristics genuinely distinguish it and, when custody or self-custody is done correctly, can offer a safe port in a storm." On top of that, bitcoin's price has remained sensitive to inflation and Federal Reserve rate hikes. This is despite bigger-than-usual knee-jerk reactions to regulatory crackdowns on the biggest crypto exchanges. The Securities and Exchange Commission took enforcement actions against Kraken and Coinbase , and the Commodity Futures Trading Commission announced a lawsuit against Binance . That could change, however, if the Fed's inflation-fighting rate hike campaign comes to an end, said Marc Arjoon, crypto research analyst at CoinShares. "As the Fed comes closer to the end of its hiking regime, the large macro factors affecting the variousasset classes bonds, stock, real estate and crypto will start to wane," he said. Traders are now expecting the Fed to hold its benchmark interest rate at current levels, with some forecasting lower rates as early as July, according to CME Group's FedWatch tool . Those cuts could total as much as a full percentage point by the end of the year, it shows. "As equities face risks of earnings and GDP recession, bitcoin won't have the same headwinds," Arjoon added. "This and the evident cracks in the financial system are why we've seen a divergence in returns over the last three months. If and when the Fed eventually pivots whether it comes later this year or next, this will be a boost for crypto more so as it would lead to a less risk-off environment."

See more here:
Bitcoin's correlation with stocks is at its lowest since 2021 as ... - CNBC

Read More..

Tencent backs Singapores Horizon Quantum Computing in $18M round – TechCrunch

Image Credits: ROSLAN RAHMAN / AFP / Getty Images

Quantum computers have the potential to carry out highly complicated calculations in minutes that would have taken classical computers thousands of years to work out. But much of the industry is still in its infancy, partly because of a lack of domain experts and software tools that match the progress of quantum hardware.

Now, companies are working to simplify the process of developing quantum software applications so programmers dont actually need to understand the underlying quantum mechanics. One of the early-stage startups making such an effort is Singapore-based Horizon Quantum Computing, whose tools can automatically construct quantum algorithms based on programs written in classical programming languages.

The company recently picked up $18.1 million in a Series A round from Tencent along with other investors, boosting its equity financing to around $21.3 million. Other investors in the Series A round included Sequoia Capital India, SGInnovate, Pappas Capital and Expeditions Fund.

The money will be used to fund product development and its expansion in Europe, where the company is planning to open an office in Dublin, Ireland. The startup is also scheduled to launch the early access program of its developer tools later this year.

While Singapore is more widely known as a financial hub, it has also been one of the most proactive governments in supporting quantum technologies. The Center for Quantum Technologies, where Horizon Quantum Computings founder and CEO Joe Fitzsimons used to be a professor, was set up under the city-states Research Centres of Excellence program to advance research in the cutting-edge field.

When I made the jump from academia, Singapore already had the right talent [for quantum computing] and there was access to capital, said Fitzsimons, who earned a PhD from University of Oxford.

Singapore is also less likely to impose export restrictions on technologies, reckoned the founder, who said he doesnt want his company to be barred from selling in other markets like the European Union.

Being in a politically neutral country like Singapore is increasingly important in a world where businesses become caught in the tech war between the U.S. and China and lose access to supply chains. Launching from a neutral home base is now seen as a prerequisite for many tech firms, including quantum computer builders, who rely on components sourced from around the world.

Tencents investment in Horizon Quantum Computing is purely financial, so it wont entail any transfer of sensitive data, the founder noted. The startup took Tencents investment because the giant is an expert in the area, he said.

Indeed, the social networking and gaming giant showed a keen interest in the field when it opened its quantum research lab in 2018. Ling Ge, Tencents chief representative in Europe and the person who oversaw the deal with Horizon Quantum Computing, has known Fitzsimons since her years in Oxford, where she studied quantum computing.

At Tencent, we take a long-term perspective on quantum. In our own quantum lab, we are focused on fundamental research, first-principles simulations and quantum algorithms, and how these might serve enterprise customers, said Ge at an industry event last year.

In terms of investments, we take a science-driven approach. One of the challenges in investing in quantum is what we call the black box paradox. The challenge of evaluating early-stage deep tech companies in areas like quantum, nuclear fusion or biotech is difficult because the core technology is in its early proof-of-concept phase. It is hard to evaluate and understand at what stage of maturity it really is.

Therefore, we take appropriate steps to mitigate the risks of this black box paradox depending on the investment stage. This is primarily achieved through our deep technical expertise, which allows us to really understand what is being developed and its maturity, she said.

The story was updated on April 3, 2023 to clarify the founders view on export controls.

Follow this link:
Tencent backs Singapores Horizon Quantum Computing in $18M round - TechCrunch

Read More..

$1M NSF Award Supports Reimagining Cryptography in a Post-Quantum – Maryland Today

In 1994, mathematician Peter Shor developed an algorithm showing how then-hypothetical quantum computers could factor numbers exponentially faster than standard machines. This promise of exotic computational power launched the age of quantum computing. It also set the clock ticking on existing public-key cryptography that provides safeguards for online banking, medical records, national secrets and more based on the infeasibility of factoring massive numbers.

Today, with Google, IBM and College Park-based startup IonQ racing to introduce the worlds first general-purpose quantum computer, University of Maryland researchersbacked by $1 million in funding from the National Science Foundationare developing a framework for cryptographic systems that can weather increasingly powerful quantum computers. They are also focused on fundamentally changing the way that cryptography is taught, developed and practiced.

The aim of our work is to help build the foundational theory of cryptography in a post-quantum future, said Jonathan Katz, a professor of computer science and principal investigator of the award. We know that many aspects of classical cryptography will look very different in a world where everyone, both honest parties and attackers, have access to quantum computers.

Assisting Katz on the NSF award are Dana Dachman-Soled, an associate professor of electrical and computer engineering, and Gorjan Alagic, an associate research scientist in the University of Maryland Institute for Advanced Computer Studies (UMIACS), where Dachman-Soled also holds an appointment.

The researchers will explore constructions of cryptosystems that can be proven secure against quantum computers. Initially they will focus on the private-key setting. Two kinds of cryptography are currently in use: public-key and private-key. The former is ideal for negotiating a connection over the internet but slow for sending data. The latter is very fast but needs a preexisting, already-negotiated connection. In practice, both types get used often.

It is known that quantum computers would pose a dangerous threat to current public-key cryptosystems, Alagic said, but security of private-key systems against quantum computers is less well understood. One strategy is to establish mathematical theorems that say things like, breaking this private-key cryptosystem would take a quantum computer that's thispowerful.

Alagic and the other researchers are working closely with the National Institute of Standards and Technology in this area, as the federal agency is ultimately tasked with establishing the benchmarks for any post-quantum security regulations or protocols.

A key element of the NSF grant is to explore new options in education, Katz said. While cryptography in a post-quantum future will require people to think differently about the challenge of securing critical information, it will also require new knowledge on quantum-based security features that are not currently possible.

Educational initiatives are already underway, with the UMD faculty helping organize a summer school on quantum and post-quantum cryptography at the University of California, Los Angeles last year. The weeklong event brought together physicists and computer scientists and included introductory talks on cryptography and quantum computing, invited talks on post-quantum assumptions and proof techniques, and poster and mentoring sessions.

Dachman-Soled said that although she believes existing public-key cryptosystems will remain in use for the near future, she is incorporating a module on post-quantum cryptography in the undergraduate course she teaches at UMD.

She is also working with a team of Gemstone Honors Program students to extend the functionality of a toolkit she developed to analyze the security of post-quantum cryptosystems when side-information is available. Examples include a systems timing, power consumption and electromagnetic leaks, which can be used as a sort of hint in attacks to break the cryptosystem, Dachman-Soled explained.

To get younger students interested in quantum cryptography, Alagic recently visited an elementary school and a middle school in Montgomery County, Md., as part of each schools career-day programming.

The kids were great, he said. The elementary school students enjoyed it so much they actually sent me thank-you notes encrypted with the Caesar cipher I taught them.

See the rest here:
$1M NSF Award Supports Reimagining Cryptography in a Post-Quantum - Maryland Today

Read More..

Taking a Quantum Leap in the future of computing – CXOToday.com

At Check Point Software Technologies, we are passionate about delivering the best security to our customers around the world. To accomplish this, we must stay ahead of cyber criminals by continuously innovating and considering new approaches for cybersecurity. One of the emerging technologies that we are following is quantum computing.

A quantum computer is a type of computer that uses quantum mechanics to process information, allowing it to solve certain problems much faster than classical computers. First suggested in 1980 by physicist Paul Benioff, quantum computing is still in the research phase. However, researchers are already starting to consider the types of applications that could run on quantum computers with the potential to transform our lives. Quantum computers will not only significantly improve the speed of resolving certain problems, but they will also solve problems that stump todays most powerful supercomputers.

Instead of using classical bits, which can only have a value of 0 or 1, quantum computers operate with data units called qubits (quantum bits). These are very different from the bits in todays computers. Thanks to the quantum mechanical phenomena, qubits have properties of entanglement and superposition that are not applicable for classical bits, which allows using qubits to run much more efficient computation.

Superposition means that each qubit simultaneously has values of 1 and 0 (and all linear combinations of them). Due to this property, the register ofnqubits represents2ndifferent values at the time. As a result, performing one operation on a quantum computer register holdingnqubits is similar to performing2noperations on the classical computer register holding n bits.

Entanglement of qubits allows researchers to correlate qubits values, as change in one qubit value results in change in the others as well. This property allows researchers to perform certain computational tasks faster, especially in the area of factorization and database searches.

Various techniques are being explored for building quantum computers, including superconducting circuits, trapped ions, and topological qubits. However, specialized software and algorithms are needed to fully utilize the unique features of quantum computing. Achieving practical quantum computing requires resolving a number of obstacles, such as error correction, scaling up the number of qubits, and integrating classical and quantum computing. Despite the challenges, many government, academic and enterprises are working on developing quantum computers and exploring their potential applications. And they have made good progress. The first quantum computer created in the mid-nineties had capacity for only two qubits.

In 2022, IBMunveileda quantum computer with 433 qubits. However, a 433 qubit computer is still insufficient for resolving complex real-life problems.Quantum computing is also gaining popularity in India, where the ecosystem of universities, developers, and students are all actively involved. Consequently, the country is emerging as a talent hub for quantum computing. Thegovernment also allocated 8000 Croretowards the National Mission on quantum technologies and applications to spur developments in quantum computing, cryptography, communications, and material science.

With quantum computing, researchers expect to be able to solve previously unsolvable problems, bringing great societal benefit to many areas, including:

However, quantum computers may also bring many new technical challenges. We are getting closer to the day when a quantum computer will be able to solve certain mathematical problems exponentially faster than classical computers. For example, a quantum computer will likely be able to break todays public key cryptosystems, which will have a major impact on the security and safety of the internet.

It is difficult to predict when quantum computing will become mainstream. It could be months or years away. However while researchers work diligently to advance quantum computing, Check Point and the larger cybersecurity industry are not sitting idle. Since 2016, the USNational Institute of Standards and Technology(NIST) has led international efforts devoted to defining new cryptographic solutions that are quantum resistant. And at Check Point, we are also working diligently on the challenge of quantum resistant encryption. We will share more details in our next blog post.

About Check Point Software Technologies Ltd.

Check Point Software Technologies Ltd. (https://www.checkpoint.com/) is a leading provider of cyber security solutions to corporate enterprises and governments globally. Check Point Infinitys portfolio of solutions protects enterprises and public organisations from 5thgeneration cyber-attacks with an industry leading catch rate of malware, ransomware and other threats. Infinity comprises four core pillars delivering uncompromised security and generation V threat prevention across enterprise environments: Check Point Harmony, for remote users; Check Point CloudGuard, to automatically secure clouds; and Check Point Quantum, to protect network perimeters and datacenters, all controlled by the industrys most comprehensive, intuitive unified security management; Check Point Horizon, a prevention-first security operations suite. Check Point protects over 100,000 organizations of all sizes.

(This article is written by Manish Alshi, Head, Channels & Emerging Technologies, Check Point Software Technologies India & SAARC, and the views expressed in this article are his own)

See the original post here:
Taking a Quantum Leap in the future of computing - CXOToday.com

Read More..