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Is Bitcoin the New Gold? – TheStreet.com

Gold has always been considered a safe haven asset.

Now Bitcoin is appearing to exhibit gold-like properties. Will Bitcoin replace gold as the new safe haven asset?

Anti Danilevski, CEO of KICKICO, a Russian blockchain platform for initial coin offerings, explains that during financialdifficulties, Bitcoin hasalready been performing in analogous ways to gold — representing a calmharbor for investors.

“During the last year S&P 500 index was decreased, gold (GLD) increased by 14.4%, whereas Bitcoin increased by 74.9%,” Danilevski said. “During the last five years, S&P 500 increased by 68.8%, gold decreased by 26.5%, whilst bitcoin grew by an impressive 24.9%.”

Danilevski believes cryptocurrency is not only a good backup plan, but comparedtogold, it grows considerably more in its price with a growing market.

Taking into consideration the recent events such as the clash between North Korea and President Trump, we saw gold rise on the back of genuine fear of conflict.

“Despite this latest episode of hair pulling which was regarded as the closest threat of war between North Korea and the U.S. since 1994, this spike in gold, although adequate, wasn’t mouthwatering,” said James Trescothick, senior global strategist at easyMarkets. “Instead it was another asset that appealed to the masses looking for safety.”

Trescothick saidin the past there has been the belief that investors should “put 10% of your wealth into gold and hope it goes down.” This logicunderlines the well-known fact that when gold rises in value it indicates that other assets are performing terribly and fear is gripping the market.

Now Trescothick says it is time to put 10% of your wealth into Bitcoin and hope it doesn’t crash. “In the middle of July Bitcoin was trading around $1985 per coin before continuing its rise higher and around the beginning of August it traded at $2789.58 per coin,” he said. “And then as hostilities increased between North Korea and the U.S., it skyrocketed. First it broke the $3,000 mark before slicing through the $4,000 level with ease.”

We saw gold react in a similar way moving from $1,258.80 an ounce at the beginning of August before moving $31 up as threats from both North Korea and Trump gripped the media. Both reacted in safe haven style, but it was the size of the move and the speed of rise in Bitcoin value that was impressive.

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This Swedish guy bet all his life savings on bitcoin and it made him 100 times richer – Business Insider Nordic

Four years ago, Swedish expert programmer Alexander Bottema went from deep skepticism to considering bitcoin as an innovation with similar implications as the internet itself. In an exclusive interview, he reveals what happened after he went all in on bitcoin, and shares how other investors can walk in his footsteps.

So did it make him a billionaire?

No, Im not a billionaire yet [in terms of Swedish crowns], says Alexander Bottema, laughing on the phone.

But my capital has grown by a factor of more than one hundred since I sold all my stocks and liquidated my savings in order to buy bitcoins in 2013.

By that time, one bitcoin was worth 30 dollars. Today, almost four years later, the virtual currency is valued at 4000 dollars.

How much savings he had at the time Bottema doesnt want to reveal, but its clear hes content with the investment: his holdings have remained untouched since that day in early 2013.

I consider it a retirement insurance. Im not thinking about buying any more, since I can never get the same return on investment again, he quips.

Alexander Bottema grew up in a small community near Stockholm. He started programming at nine years of age, using the familys Apple 2-computer.

The booming personal computer market made it an exciting time to grow up.

But programming wasnt enough for Alexander Bottema. He wanted to learn more about the theories behind computing. In 1991, he started studying computer science at the renown Uppsala University, where he would later continue as a PhD faculty.

Uppsala turned into Stockholm when he started working on data security and encryption for consultancy Upec Industriteknik. When the company was acquired, Alexander Bottema and his two colleagues started their own company.

Frontec wasnt interested in product development, which we were into at the time, so we decided to start Polytrust. We got financial support from two venture capital firms: Telia Business Innovation and IT Provider.

After Stockholm and Polytrust, Alexander Bottema moved to the U.S. to work for Mathworks, where he is still employed. The Massachussetts-based company provides data analysis and simulation for industrial purposes.

I rejected it as something uninteresting. Seeing that I had a long track record in data security, I was certain that it wouldnt be possible to build safe servers that are open, and envisioned a crash. The following year, I was sitting on the subway and read in the Metro newspaper how bitcoin had recovered after a crash. I couldnt understand how a currency that is built on trust could recover. That piqued my interest.

He downloaded the technical description and the program code for the currency, and used all his knowledge and experience in studying the material.

Alexander Bottemas jaw dropped. His deep skepticism was gone with the wind.

Once he was convinced of bitcoins excellence, he started calculating how much the currency could one day be worth. Like many others, Bottema used the gold market as comparison.

The allocated value of the gold market, where rich people put their money to avoid devaluations, is roughly 8,000 billion dollars. If you divide it by 21 million, which is the number of bitcoins that will be available from the year 2140 onwards, you get 380000 dollars per bitcoin. I ended up on values ranging between 50,000 and 100,000 dollars per bitcoin. I panicked, and bet all of my savings.

What is driving the value of bitcoin, according to Bottema, is the combination of a growing number of use cases, like micropayments, and a limited supply of the currency.

At the outset, he worried most about a ban against the currency but he doesnt consider it a threat any longer.

Isnt there a threat from competing cryptocurrencies?

The first one is the biggest. This is quite similar to the war between VHS and Betamax. Technically speaking, Betamax was better, but VHS was bigger. So even though I theoretically could invent an entirely new internet, it would be very hard to make it grow.

Do you not get worried whenever the currency’s value plummets?

No, I know how the system works and I know what Ive invested in. Sure, the currency dips, but it has always recovered after some time. Bitcoins future looks bright.

Heres how you invest in bitcoin:

Create an account on an exchange, not an intermediary. This will give you the best price. The most accessible one for Swedes is Bitstamp.net.

All bitcoin exchanges are strictly supervised, which means you need to send copies of your ID so as to prevent money laundering.

Send over money to your account using a (European) Sepa-transfer.

Now you are eligible to buy bitcoins.

If youve bought the currency, and your exchange goes bankrupt, its important that your withdraw them.

Transfer them your own bitcoin wallet, for instance Ledger Waller or Blockchain.info.

Its important that you save the code of your wallet on a printed piece of paper or a USB-drive in case your computer would crash or disappear.

When you want to sell, just do the opposite.

Read the original article in Swedish on VA Finans.

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This Swedish guy bet all his life savings on bitcoin and it made him 100 times richer – Business Insider Nordic

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Why Motherboard Is Capitalizing ‘Bitcoin’ Again – Motherboard

This is a post about capitalization standards, but it’s also about how we decide to normalize technology and when.

If you’ve been following Motherboard’s cryptocurrency coverage over the years, you may have noticed some changes. Back in 2011 and 2012, we would alternately capitalize Bitcoin or write it all in lowercase, depending on the whim of whoever was doing the story. In 2015, we elected to capitalize Bitcoin when talking about the system or protocol, and lowercase denominations of the currency: So, “I love Bitcoin, and I own many bitcoins.” In 2016, we decided to write about cryptocurrencies all in lowercase.

As of today, we’re going back to our previous rule. From here on out, we will capitalize cryptocurrencies when referring to the protocol or systemBitcoin, Ethereum, Monero, etc.but lowercase the denominations: “I love Ethereum and own a lot of ether.”

Our decision here is partly practical and partly philosophical. The main reason we decided to lowercase all cryptocurrencies was to replicate how the normalization of other technologies is reflected in writing. For a long time after the internet became popular, for example, publications would capitalize it as “Internet,” and many still do. Now that the internet is an integral part of most of our personal and work lives, it just seems a bit silly to see it capitalized, doesn’t it? It’s as if the writer is talking about something alien and unfamiliar instead of a system we’re all deeply embedded within. So, in a move that now seems wildly optimistic, we decided to get ahead of the curve with cryptocurrencies and de-capitalize them.

Recent events have played out in ways we couldn’t have predicted. Bitcoin, for example, recently split off into two separate versions with nearly identical code and, most importantly, an identical transaction history up until the time of the split. With this newly introduced confusion, our previous capitalization policy thrust us into the realm of value judgements: Should the new version of Bitcoin, called Bitcoin Cash, be capitalized when Bitcoin proper is not? What kind of message does that send to our readers? Does one version “deserve” to be capitalized while the other does not? On the other hand, which implementation “deserves” to be treated with the kind of familiarity that the internet does, and why?

Leaving these questions aside, on a purely practical level, it just makes more sense to readers, in our estimation, to parse a sentence like, “Bitcoin Cash is an offshoot of Bitcoin,” instead of, “bitcoin cash is an offshoot of bitcoin.” So, that’s one point on the side of capitalization.

The previously raised philosophical concerns also put us on the side of capitalization. With yet another Bitcoin split on the way in November, it’s clear that the Bitcoin protocol (and community) is not as monolithic as we had presumed, and at the moment it’s not as resilient as other technologies we de-capitalize, like the internet. The battle between Bitcoin and Bitcoin Cash is largely a battle between brands, and another entrant with a new name (no word on whether it will also try to claim the ‘Bitcoin’ moniker) is about to enter the arena.

We need to keep our articles readable. We also need to avoid the illusion of preference. Above all, we need to be careful about which technologies we normalize. For all these reasons, we’re going to capitalize all cryptocurrencies-as-systems and de-capitalize their denominations. Litecoin, Dogecoin, Bitcoin, Bitcoin Cash, Ethereum, etc.

In the bonkers world of cryptocurrencies, there have to be some rules.

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Why Motherboard Is Capitalizing ‘Bitcoin’ Again – Motherboard

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Value of all digital currencies hits record around $160 billion as … – MarketWatch

Bitcoin and Ether cryptocurrencies rose Monday, helping digital currencies broadly to an all-time valuation record.

The total value of the digital-currency universe tracked by data research site Coinmarketcap.com, including those linked to the Bitcoin BTCUSD, +0.50% Ethereum and Ripple blockchain networks, reached around $160 billion on the session, surpassing a previous record at $156.4 billion on Aug. 25.

Most recently, one bitcoin token was buying $4,397.32 off about 2.7% from its 52-week high at $4,522.13, according to MarketWatch data and research site Coindesk.com.

A single Ether token bought $342.71, about $40 off its mid-June all-time high, while Bitcoin Cash, a spinoff from bitcoin, was down 3.6% at $599.16

So-called cryptocurrencies tend to see both big intraday and interday price swings.

Growing valuations for cybercurrencies come as the decentralized platforms garner increased attention from average folks and businesses. The Chicago Board Options Exchange, which operates the largest options exchange, has teamed up with Tyler and Cameron Winklevoss twins to create bitcoin derivatives.

Read: Opinion: Stay away from bitcoin and ethereumthey are complete garbage

Moreover, beyond the concept of a digitally based currency, the blockchain has drawn attention as a utility from Wall Street investors. The blockchain is the digital ledger that tracks each bitcoin transaction and underpins the currency, and is considered by companies as a promising way to quickly document things like trading and other transactions.

Chris Burniske, a blockchain analyst at ARK Invest, in a tweet on Monday, said increased activity on blockchain networks has been part of the reason for recent gains in Ether and bitcoin and other digital units.

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Value of all digital currencies hits record around $160 billion as … – MarketWatch

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How To Gain Bitcoin Exposure Inside Of Your Traditional Brokerage Account – Seeking Alpha

Introduction

Cryptocurrencies and Bitcoin in particular have experienced enormous gains since the beginning of the year. While many people are interested in investing in this space, there are some concerns about investing in actual bitcoins or other electronic currencies. Some of these concerns include:

There are ways to gain bitcoin exposure through instruments that can be bought with your traditional brokerage. These instruments range in size and volatility.

As the prices of cryptocurrencies increase, there is more of a demand to mine them. Companies that produce instruments to mine these currencies will benefit from an increase in demand.

Nvidia (NASDAQ:NVDA) – Nvidia is perhaps the largest company that has a direct relation to the price of cryptocurrencies at a market capitalization of almost $100 billion. Nvidia has actually said publicly that cryptocurrencies have benefited the company. Nvidia CEO Jen-Hsun Huang said crypto is “a very important market that will likely continue to grow over time.”

NVDA has been very highly correlated with Bitcoin in 2017.

Advanced Micro Devices (NASDAQ:AMD) – AMD, another GPU producer, has benefited from the rise of cryptocurrencies. The popularity of mining cryptocurrencies, especially Ethereum, has increased demand for AMD’s graphics cards. AMD’s products have generally had the best reputation for mining cryptocurrencies.

Surprisingly, AMD and Bitcoin have had only a slightly positive correlation in 2017.

There are a handful of large companies that accept bitcoin as a payment for their products and services. It would make sense that as the price and popularity of bitcoin rises, companies that accept it as a payment would benefit. Some of these companies are Shopify (NYSE:SHOP), Overstock (NASDAQ:OSTK), Dish Network (NASDAQ:DISH), and Microsoft (NASDAQ:MSFT).

There are various stocks trading in the OTC markets that are more directly related to bitcoin and electronic currencies. It is important to note that these stocks are very risky.

MGT Capital Investments (OTCPK:MGTI) – MGT Capital Investments was for the most part a cybersecurity company, but more recently it has invested in the cryptocurrency space. MGTI has taken an interest in mining both Bitcoin and Ethereum. On May 22nd, MGT Capital Investments announced a major expansion of its bitcoin mining operations. On June 23rd, MGTI launched a pilot program to mine Ethereum. On August 25th, the company announced that it would add over 1,000 more mining computers. MGT Capital Investments is set to be one of the largest bitcoin producers in North America.

A large portion of MGTI’s price can be explained by movements in the price of bitcoin.

Bitcoin Services, Inc. (OTCPK:BTSC) – Bitcoin Services, Inc. offers various bitcoin services. There are three main operations of the company. The first operation is offering a bitcoin escrow service. The company also engages in bitcoin mining and the development of blockchain software.

BTSC is obviously very correlated with the price of bitcoin.

BTCS, Inc. (OTCQB:BTCS) – BTCS considers itself the first pure play U.S. public company focused on blockchain technologies. BTCS has stated that in 2017 its goal is to broaden its digital assets and focus on mining.

BTCS certainly is correlated with bitcoin, but includes a very high level of volatility. Note: Data is from March 13th forward.

Global Arena Holding (OTCPK:GAHC) – Global Arena Holding is a company focused on acquiring technologies, patents, and companies relating to blockchain technology. Global Arena Holding has two subsidiaries: GAHI Acquisition Corp. and Global Election Services.

GAHC has a very clear and strong correlation with the price of bitcoin.

There is currently a lack of exchange traded funds that track bitcoin. This may change in the very near future though.

VanEck Bitcoin Fund – VanEck has filed for a bitcoin ETF and, if approved, it would be the first of its kind. This is a big IF though, because the Winklevoss Bitcoin ETF was rejected by the SEC earlier this year. VanEck may also have some competition when it comes to opening the first bitcoin ETF.

Grayscale Bitcoin Investment Trust (OTCQX:GBTC) – The investment trust holds bitcoins and can be traded on your typical broker. I would be wary of OTCQX:GBTC though, because of the fact it trades at a premium.

Bitcoin Futures – The Chicago Board of Exchange (CBOE) recently announced that it would be introducing bitcoin derivatives.

The nature of bitcoin and the process of buying bitcoin are much different than traditional investments. This does not prevent traditional investors from gaining exposure to bitcoin in their brokerage accounts though. There are a handful of stocks available to investors that give different levels of exposure to bitcoin and have varying degrees of risk. Stocks like NVDA and AMD are larger companies that offer some exposure to cryptocurrencies while being relatively less risky. OTC stocks like MGTI, BTSC, BTCS, and GAHC offer the ability to leverage the price of bitcoin, but are extremely volatile and risky.

Disclosure: I am/we are long BTSC, MGTI.

I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

Additional disclosure: The OTC stocks mentioned in the article are very volatile and risky due to the nature of OTC markets. Investors should take special consideration before investing in these stocks.The graphs in this article were generated using Excel with the data coming from Quandl and Yahoo Finance.

Editor’s Note: This article covers one or more stocks trading at less than $1 per share and/or with less than a $100 million market cap. Please be aware of the risks associated with these stocks.

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How To Gain Bitcoin Exposure Inside Of Your Traditional Brokerage Account – Seeking Alpha

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Upgrade your internet security with Private Internet Access VPN … – Popular Science

Both private companies and governments use the web to track our activity every day. What’s more, the problem is getting worseso you might want to think about protecting yourself. Private Internet Access VPN makes you totally anonymous online and helps you access great geo-blocked content. You can currently get two years of service for $59.95 via the Popular Science Shop.

All the big online platforms spy on their usersthat’s how Facebook knows what products you have viewed on Amazon. If you would prefer a little privacy, you need a VPN. Private Internet Access routes your web traffic through masking servers, meaning no-one can trace your IP address or physical location. Aside from privacy, this means you can access overseas streaming sites and protect yourself from cyber criminals.

This VPN offers unlimited bandwidth and impressive speed, thanks to a network of 3,310 servers in 25 countries. You can protect up to five devices simultaneously, with one-click installers for PC, Mac, Linux, Android and iOS. Private Internet Access also blocks ads and malware, keeping you safe online.

You can grab a two-year subscription now for $59.95, saving 63 percent on the regular price ($166).

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Upgrade your internet security with Private Internet Access VPN … – Popular Science

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Internet 101 Survey results show disconnect between confidence and Internet user knowledge – TechSpot

Public Interest Registrys 2017 Internet 101 Survey results are in and you may be surprised by just how many people lack basic knowledge about the Internet. Although it’s easy to point fingers at older generations over their perceived lack of technical prowess, it is actually baby boomers that scored highest in a number of areas.

Looking at the infographic below, we see that only 47 percent of people currently have access to the web. Of those who do have access, many rely solely on cellular networks or low-speed connections. Try taking the quiz for yourself to see how you fit in.

The survey included feedback from 506 men and 508 women, all over 18 years of age. Public Interest Registry is a non-profit group responsible for operating the .org top-level domain name. Some of their main goals are educating the public and promoting Internet security.

Found is a TechSpot feature where we share clever, funny or otherwise interesting stuff from around the web.

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Internet 101 Survey results show disconnect between confidence and Internet user knowledge – TechSpot

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Getting Crowdfunding Fundamentals Down to A Science In Advance Of Campaign Key To Success – HuffPost

If I were to start a crowd funding campaign today the first thing I would do is start with a good definition of the word crowdfunding. According to Wikipedia Crowdfundingis the practice of funding a project or venture by raising monetary contributions from a large number of people.

Crowdfundingis a form of crowdsourcing and an alternative method of finance which has gained popularity over the last decade. In 2015, it was estimated that worldwide over US$34 billion was raised this way.

There are a variety donation crowdfunding platforms where individuals can raise capital for their projects. Crowd funding can be executed through mail-order subscriptions, benefit event, and other methods, but the most common method is internet-mediated registries.

The top ten crowdfunding sites are listed on Traffic Rank, and the list is sorted based on independent traffic data found on Alexa an Compete. Currently, Gofundme, Kickstarter, and Indiegogo rank on the top three list.

The top three books on crowdfunding in 2017 are Step-by-Step: Everything you Need to Raise Money in the Crows by Joseph Hogue, CPA, Crowdstart: The Ultimate Guide to Powerful & Profitable Crowdfunding Campaign by Ariel Hyatt, and Fundraising Crash Course: Fundraising Ideas & Strategies to Raise Money for Non-Profits & Business by Arnold Taggert.

Crowdfunding begins with a proposed idea, project to be funded, individuals or groups who support the idea, and building a platform with all of the pertinent information to engage individuals or groups to support the ideal.

Crowdfunding can be used to support for-profit entrepreneurial ventures, social sector projects, community projects, medical expenses, etc.

According to these sources cited crowdfunding websites helped companies and individuals worldwide raise US$89 million from members of the public in 2010, $1.47 billion in 2011, and $2.66 billion in 2012 $1.6 billion of the 2012 amount was raised in North America.[48]In 2012, more than one million individual campaigns were established globally[49]and the industry was projected to grow to US$5.1 billion in 2013.[49]and to reach US$1 trillion in 2025.[50]A May 2014 report, released by the United Kingdom-based The Crowdfunding Centre and titled “The State of the Crowdfunding Nation”, presented data showing that during March 2014, more than US $60,000 were raised on an hourly basis via global crowdfunding initiatives. Also during this period, 442 crowdfunding campaigns were launched globally on a daily basis.[21]

Youll also receive an 8-page Crowdfunding Kit that includes:

Successful Crowdfunding takes patience, planning, commitment, creativity and a great offer to individuals and groups looking to support your cause, so make sure you take the time to develop a well thought out campaign and plan of action from beginning to end!

Phil Andrews is the President of the Long Island African American Chamber of Commerce, Inc. an affiliate of the US Black Chambers, Inc. and Past President of the 100 Black Men of Long Island. Mr. Andrews is also the President-Emeritus of the Black Public Relations Society-New York an affiliate chapter of the National Black Public Relations Society. Mr. Andrews has appeared on WABC Here and Now and NBCs Positively Black. Mr. Andrews is a Black Enterprise BE Modern Man.

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Getting Crowdfunding Fundamentals Down to A Science In Advance Of Campaign Key To Success – HuffPost

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Australia gets quantum computing company – ACS (registration)

The new Silicon Quantum Computing leadership team. Source: cqc2t.org

The NSW Government has teamed up with the University of New South Wales (UNSW) in a bid to create the worlds first quantum computer.

The governments $8.7 million investment comes as one of the first expenditures from its recently announced $26 million Quantum Computing Fund.

The funding will support a new company, Silicon Quantum Computing Pty Ltd, responsible for retaining intellectual property in Australia, supporting new industries based around quantum computing, and most importantly, creating the worlds first quantum computer.

Deputy Premier and Minister for Skills, John Barilaro, spoke about the new partnership.

NSW has an incredible and an unusual depth of talent in quantum research, and the world is watching our progress.

This new company, led by UNSW, will help to ensure we remain global leaders in the race to develop a silicon-based quantum computer.

Professor Michelle Simmons and her incredibly talented team of researchers at UNSW have put Australia ahead of the pack in the race to build the worlds first fully-functional quantum computer in silicon, he said.

The company will operate within the Centre of Excellence for Quantum Computation and Communication Technology (CQC2T), residing in the UNSW School of Physics.

CQC2T labs were opened by Prime Minister Malcolm Turnbull in April 2016, where it was announced they would accelerate Australia in the international race to build the worlds first quantum computer in silicon.

Also backed by Commonwealth Bank, Telstra and the Federal government, CQC2T believes it is on track to create an operational quantum system within 10 to 15 years.

The new company is expected to create an extra 40 jobs, including 25 post-doctoral researchers and 12 PhD students.

Quantum computing can perform complex equations that would otherwise take years to complete in just minutes, using quantum bits (qubits).

While IBM has already created a 16 and 17-qubit computer, CQC2T is hoping to process a world-first 30-qubit system, capable of outperforming a classical computer.

Minister for Industry, Innovation and Science the Hon Arthur Sinodinos spoke of the importance of quantum computing for Australia.

Quantum computers are expected to transform the way we live, work, and do business over the coming decades, creating new jobs in new industries not even imaginable today, he said.

If Australia wins the global race to build a functional quantum computer, it will create new industries and job opportunities across our economy.

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Russians Lead the Quantum Computer Race With 51-Qubit Machine – Edgy Labs (blog)

An international research team successfully created and tested a record-breaking quantum supercomputer. Running on 51 qubits, the new machine surpasses the theoretical threshold of quantum supremacy.

Like Schrdingers cat, qubits, or quantum bits, are undecided and can be in two positions simultaneously. In other words, if traditional computers have bits that can take the value of 1 or 0 at a time, qubits can be either at the same time.

Hence the edge quantum computing has over classical computing in solving very complex calculations much faster.

Qubits allow the development of new computational algorithms, which are much more productive than silicon-based iterations.

The more qubits a quantum computer uses, the more processing power it has.

But most advanced quantum computational systems available today are still far behind supercomputers in terms of their practical applicationsalthough the situation is changing very fast indeed.

Theres a theoretical threshold after which quantum computers would surpass most powerful classical supercomputers. Scientists believe it should happen somewhere around 50 qubits.

Currently, the most advanced quantum chips are below 20 qubits, such as theIBM Q that uses 17 qubits.

Google also is no stranger to the quantum race, as its working on a 49-qubit 14-meter machine using superconducting circuits.

Googles 49 qubit computer was supposed to be the highlight of the ICQT 2017 (The International Conference on Quantum Technologies, held July 12th16th in Moscow).

Designed by John Martinis, a professor at University of California at Santa Barbara, Googles computer will use a chip embedded with 49 qubits (0.6 cm by 0.6 cm).

But as groundbreaking Googles machine might be, it was another machine that stole the show.

During the same day of the ICQT 2017 that Martinis was supposed to give a lecture about his quantum device, Mikhail Lukin, the co-founder of RQC, made his own announcement.

Mikhails team, including Russian and American scientists, have built the worlds most powerful functional quantum computing system, running on 51 qubits.

The new quantum system uses an array of 51 cold atoms in lieu of qubits. Locked up on laser cells, these atoms should be kept at extremely low temperatures.

we observe a novel type of robust many-body dynamics corresponding to persistent oscillations of crystalline order after a sudden quantum quench, said researchers in a paper available at arXiv.org. These observations enable new approaches for exploring many-body phenomena and open the door for realizations of novel quantum algorithms.

The model was successfully tested in the labs of Harvard University, solving physics problems that silicon chip-based supercomputers would have a hard time replicating.

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Russians Lead the Quantum Computer Race With 51-Qubit Machine – Edgy Labs (blog)

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