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Bitcoin in circulation: Over 50% hasnt moved in 2 years, Glassnode says – Cointelegraph

More than half of all Bitcoin (BTC) in circulation has not been touched for two years, according to data compiled by the crypto analytics platform Glassnode.

On April 10, crypto influencer Anthony Pompliano highlighted that 53% of Bitcoins circulating supply has been inactive in the last two years. Citing data published by Glassnode, Pompliano pointed out that this is a new all-time high for this specific metric tracked by the data platform.

In addition, the crypto entrepreneur also pointed toward other metrics, such as Bitcoin, which hasnt moved for five and 10 years. According to the data, almost 29% of Bitcoins circulating supply has not been moved in the last five years. This amounts to over 5.6 million BTC, worth around $158 billion at the time of writing.

Around 2.7 million BTC, worth $76 billion, have not been touched in a decade. Pompliano commented that these Bitcoin could potentially be lost or are in the hands of the most disciplined investors in the world.

Related: CPI to spark dollar massacre 5 things to know in Bitcoin this week

Some community members believe that the data means those holding bought when BTC was at an all-time high and are waiting for the right time to sell. On April 10, 2021, BTC was trading above $60,000, according to the coin information aggregator CoinGecko.

Meanwhile, the keyword Bitcoin recently topped the list of most popular search terms in the United States, suggesting that Americans have been curious about Bitcoin lately. The term surpassed other trending keywords, such as the former U.S. president Donald Trump and American singer Elvis Presley.

The increase in American search interest for Bitcoin follows an announcement by the United States Federal Reserve confirming the launch of the FedNow payments system. On March 16, the U.S. government said that the instant payments platform will be launched in July.

Magazine: Bitcoin in Senegal: Why is this African country using BTC?

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Dogecoin Co-Creator Reveals How Much Bitcoin He Holds – Benzinga

Billy Markus, co-founder of meme-inspired cryptocurrency Dogecoin DOGE/USD on Monday revealed his current holdings of Bitcoin.

What Happened: In response to a Twitter users query regarding his BTC holdings, Markus, who is also known as Shibetoshi Nakamoto, stated that he holds 0.0054 BTC, worth just $162.

At the time of writing, BTC was trading at $30,085.

See More: Top Indian Apps That Give Bitcoin, NFT Rewards

Earlier in February, Markus affirmed that if Bitcoin isnt characterized as a security, then the same should apply to Dogecoin.

This statement comes after Gary Genslers interview with New York Magazine, in which he labeled all other cryptocurrencies except Bitcoin as securities.

Price Action: At the time of writing, DOGE was trading at $0.085, up 3% in the last 24 hours, according to Benzinga Pro.

Read More: Bitcoin Crosses $30K, Ethereum And Dogecoin Flash Green: Analyst Says 11 Mysterious, Identical Transactions Caused Apex Crypto To Rally

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Grayscale Bitcoin Trust (GBTC) narrows discount, boosted by bitcoin … – Proactive Investors UK

Grayscale Bitcoin Trust (GBTC), the worlds largest pure bitcoin investment vehicle, has narrowed its discount to 35% against US$18.3bn of bitcoin under management.

Although this remains a steep discount for the beleaguered trust, its a marked improvement from the nearly 50% discountinflicted upon shareholders at the start of the year.

GBTC has been running at a discount since as early as February 2021, with even the unprecedented crypto rally later that year failing to bring the fund to parity with its underlyings.

A subsidiary of Digital Currency Group, Grayscale has struggled to do good by the 850,000-plus shareholders of its flagship GBTC fund who are unable to redeem their shares due to the funds structure.

Grayscale has been in a protracted battle with the US Securities and Exchange Commission (SEC) to convert the trust into a spot exchange-traded fund (ETF), but the regulator under crypto-sceptical chair Gary Gensler has steadfastly refused despite allowing for futures ETFs.

Converting to an ETF would allow traders to arbitrage the difference and potentially bring the funds share price to parity, but Gensler has nixed Grayscales plans on the grounds of protecting investors and the public interest since the proposal failed to demonstrate how it is designed to prevent fraudulent and manipulative acts and practices.

In a fresh petition filed in January 2023 before the US Court of Appeals, Grayscale called the SECs refusal arbitrary to its core and illogical given the SECs granting of permission for bitcoin futures contracts.

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Bitcoin Price Prediction 2023, Experts Think It’s Better To Buy RenQ … – The Crypto Basic

Bitcoin, the worlds leading cryptocurrency, has had a rollercoaster ride in recent years, with significant price fluctuations and market volatility. Many investors wonder what the future holds for Bitcoin and other cryptocurrencies in 2023.

While some experts remain bullish on Bitcoins long-term prospects, others believe that there may be better investment opportunities in the decentralized finance (DeFi) space, such as RenQ Finance (RENQ).

RenQ Finance is a multi-chain DeFi platform that offers a range of financial products and services, including liquidity pools, yield farming, lending, and borrowing protocols, as well as a launchpad for new DeFi projects.

RenQ Finance is built on the Ethereum blockchain, which is known for its fast transaction speeds, low fees, and scalability.

RenQ Finance has a strong and active community of developers, investors, and users committed to building and improving the platform. The community plays a crucial role in the governance and decision-making processes of the platform, ensuring that it remains decentralized and transparent.

RenQ Finance offers a range of innovative features and uses cases that differentiate it from other DeFi platforms. For example, the RenQ CLOB (central limit order book) allows users to trade a wide range of Solana-based assets, including options and futures, while the RenQ Vault offers a secure and efficient way to earn compound interest on crypto holdings.

RenQ Finance is still a relatively new platform, and there is significant potential for growth and expansion in the coming years. The platform is already attracting a lot of attention from investors and developers in the DeFi space, and its innovative features and use cases are likely to attract even more users in the future.

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While Bitcoin has had a volatile past, many experts remain optimistic about its long-term prospects. Some analysts predict that the price of Bitcoin could reach $35,000 or even higher, while others predict $89,000 or even $100,000 by 2023, driven by increasing institutional adoption and a growing number of use cases.

However, others believe that Bitcoins high volatility and limited scalability could limit its growth potential in the long term. As more users and transactions are added to the Bitcoin network, the fees and transaction times are likely to increase, making it less attractive for specific use cases.

In contrast, RenQ Finance offers a range of innovative features and use cases that are well-suited to the growing demand for decentralized finance. The platforms strong community support and potential for growth make it an attractive investment opportunity for those looking to get involved in the DeFi space.

Cryptocurrencies have become increasingly popular as a form of investment over the past few years. With the market growing rapidly, investors are always on the lookout for strategies to help them make the most out of their investments. In this section, we will discuss some strategies for investing in cryptocurrencies in 2023.

One of the most important strategies for investing in cryptocurrencies is to diversify your portfolio. This means investing in multiple cryptocurrencies rather than just one. By doing so, you spread your risk and reduce the chances of losing all your investments in one go. This is because different cryptocurrencies have different price fluctuations, and diversifying your portfolio will help you mitigate the impact of market volatility. If you are looking to diversify your portfolio RenQ Finance could be the best option. Click here to buy $RENQ

Before investing in any cryptocurrency, it is essential to do thorough research on the project, the team behind it, and its potential for growth. This includes understanding the technology, the use cases, and the market trends. Conducting the research helps you to identify projects that have the potential for growth, those that are sustainable, and those that are backed by a strong community. This information will help you make informed decisions about which cryptocurrencies to invest in.

To be successful in cryptocurrency investment, it is essential to keep an eye on market trends. This involves monitoring the prices of various cryptocurrencies and identifying the ones that are likely to grow in value. You can do this by using technical analysis tools and following market news to stay up-to-date with the latest trends.

Cryptocurrency investment requires patience and a long-term outlook. It is essential to invest in projects that have a long-term vision and a solid roadmap. This ensures that your investments are safe and have the potential for significant growth in the long run. By investing in long-term projects like RenQ Finance (RENQ), you are more likely to ride out any short-term fluctuations in the market.

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Do Kwon converted illicit funds from LUNA to Bitcoin: S.Korean prosecutors – Cointelegraph

South Korean prosecutors have identified 414.5 billion won ($314.2 million) in illicit assets associated with Terraform Labs co-founder Do Kwon and his associates. Out of the identified illegal assets, prosecutors have linked about 91.4 billion won ($69 million) of the specified amount directly to Kwon.

Although Kwon amassed millions, none of the assets tied to him are recoverable or under the jurisdiction of the South Korean authorities. This is mainly because the now-arrested former CEO reportedly converted most of the illicit funds into Bitcoin (BTC) using overseas crypto exchanges instead of investing in physical assets, per a reportpublished by local media outlet KBS.

Early investigation into the Terra collapse by the United States Securities and Exchange Commission revealed thatKwon siphoned nearly $100 million worth of Bitcoin from Terra post-collapse. In another reportbased on an SEC interview with former Terraform Labs, published in South Korean media, Kwon was accused of siphoning $80 million a month before the collapse of the Terra ecosystem.

The South Korean authorities have requested Binance to halt any withdrawal request associated with Kwon. Binance confirmed to Cointelegraph that they are cooperating with the prosecutors and offering any assistance they need.

South Korean prosecutors are actively tracing properties associated with Terraform Labs executives to recover some illicit funds from the Terra debacle. On April 3, prosecutors seized homes and other assets to stop former Terra employees from selling things that might be tied to legal cases.

In addition to the residences in Seoul owned by former CEO Shin Hyun-seong and others, the prosecutors also filed foreclosure actions against their foreign-registered vehicles, lands in Hwaseong and Gapyeong in Gyeonggi-do, and Taean in South Chungcheong Province.

Related: Do Kwon faces fraud charges from US prosecutors hours after arrest

Terra was a booming crypto ecosystem until its $40 billion collapse in May 2022.

What was initially thought to be a market-triggered event turned out to be a clear case of fraud, with former CEO Kwon at the epicenter. According to on-chain data, In the 3 weeks leading up to the depeg of the TerraUSD (UST) stablecoin, one entity dumped over $450 million of UST on the open market. Four days after the last sale, UST started collapsing. The entity behind the massive dump was none other than Terraform Labs.

Despite an arrest warrant from South Korean authorities and an Interpol red notice against his name, Kwon continued to evade arrest for nearly a year before getting caught on March 23in Montenegro.

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Tattooing Bitcoin: Advocates wear cryptocurrency on their sleeve – Cointelegraph

Got Bitcoin ink? Many Bitcoin believers do. But what are the risks? What about privacy? And what happens if one fateful day Bitcoin crashes and burns to zero?

Cointelegraph spoke with Bitcoin (BTC) advocates to understand why they have permanently etched a Bitcoin logo, motif, equation or slogan onto their skin. Theyve shown permanent solidarity with the decentralized movement, expressing theirsupport for the Bitcoin protocol and the values it represents.

Didi Taihuttu, father of the Bitcoin family, explained that he inked himself the moment he went all in on Bitcoin as I thought it was a very important step in my life. A familiar face among the crypto community, Taihuttu sold all of his familys possessions and slept in a campsite while the price of Bitcoin was in the four-figure territory with the B etched on his arm.

He now travels the world evangelizing Bitcoin, with his forearm on full view:

Anita Posch, another globetrotting Bitcoin evangelist, has a lightning bolt tattooed on her forearm. In the Human B Bitcoin documentary film, she said she wouldnt explain that the lightning bolt symbol (a nod to theLightning Network)on her wrist is Bitcoin-related but added Bitcoin is my life in follow-up comments.

TatumTurnUP (not his real name), the host of the Bitcoin show Between Two Asics, explained that he got his tattoo of the BTC supply formula because Its what proves scarcity.

The tattoo on his bicep is a common (but unfortunately not strictly accurate) formula for the supply of Bitcoin. He shared a warning with readers: The bottom of the Sigma might be the most painful thing I ever experienced. Just a forewarning.

However, isnt it risky to advertise ones love of a digital currency on ones skin?OpSec, or operational security, is a military term the internet has hijacked. Among the crypto community, it refers to the public sharing of identity or defining features. And a Bitcoin tattoo could put a literal target on ones back.

Erik Dale, whose tattoos are pictured in the above tweet, founded Norways Northern Lightning conference series. Dale told Cointelegraph he was aware of the implications. His tattoos are Equations, no logos or tribal markers, for OpSec reasons.

Rikki, of content creators and investigators Bitcoin Explorers, joked, We are not particularly concerned about bad opsec. He added another Bitcoin tattoo to his collection during a giveaway in Guatemala.

Bad OpSec can lead to doxing or the public reveal of peoples personal data. Thats why some Bitcoin advocates mask their online identities, using anonymous profiles on social media. Not so for Rikki and his partner Laura; they have their Bitcoin support on full view.

Piero Coen, the co-founder of Guatemala-based Osmo Wallet, told Cointelegraph that Bitcoin is a counterculture movement, and getting a tattoo related to it is a way to show our commitment to this movement.

Besides, for Rikki and Laura, much of their lives already permanently exists on camera. Rikki explained:

Laura put it even more succinctly in a recent tweet:

For Tatum, another content creator and a recognizable face in the Bitcoin space, Value is teaching people about Bitcoin and networking through it, so theres a constant battle with opsec.

Tatum walks around Bitcoin conferences wearing a bulletproof vest in a jocular nod to operational security in the Bitcoin space.

Unlike tweets, open letters or company creation, Bitcoin tattoos are tricky to delete. They require commitment.

So what happens if the currency goes to zero, like many other failed projects from Terra to Celsius? Tatum explained, well, sucks for me!

Billionaire Mike Novogratzs tattoo of the failed Terra (LUNA) token is an eternal reminder of the headiness and hedonism accompanying crypto bull runs. The tattoo remains on Novogratzs arm, while LUNA is worth next to nothing, and its creator, Do Kwon, might be facing jail time.Fortunately, Novogratz says he learned from the experience saying investing requires humility.

Dale explained hes prepared to live with the tattoos on his wrists even if Bitcoin does fail. Hes committed until the very end:If Im wrong about this, I want to carry that reminder every day. And if not, I cant imagine a prouder badge to wear for the rest of my days.

Related:Novogratz says LUNA tattoo is a constant reminder investing requires humility

For Taihuttu, its important to zoom out and focus on the bigger picture. Bitcoin is a long-term play:

Hes right; famous rappers and celebrities, including singer Kesha and actor Lena Dunham, have been inked with dollar sign tattoos. Its unlikely that they were asked if the dollar would go to zero prior to sitting in the tattoo artists chair.

On a sober note, Taihuttu explained that regardless of the Bitcoin movement underway, the large tattoo on his forearm represents an amazing 10 years of my and my familys life since 2013, the year that I started mining Bitcoin. And thats more than enough reason to get Bitcoin ink.

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One Crypto Analyst Is Predicting An Incredibly Massive Bitcoin Rally … – Benzinga

FormerCoinbase Chief Technology OfficerCOINBalaji Srinivasan recentlypredicted that Bitcoin BTC/USD will explode by more than3,300%in less than 90 days.

In aninterviewwith ARK Invest last Thursday, Srinivasan said that, given thecurrent U.S. banking fiasco, people will flee to Bitcoin.

"I think we see an exit from the U.S. banking system towards Bitcoin over the next weeks and months and perhaps years to come," hesaid.

"The timeline for this would be 90 days, and I don't think it's impossible given how fast digital bank runs happen. So, [the] timing is hard prepping is easy," he added.

Srinivasan said the Federal Reserve has caused instability in the market and that it could push many people to move toward Bitcoin.

"We're having the true election now, between the U.S. dollar and BTC, where people are again voting against a very different kind of central planning. And that's the macro frame that I have on this. The level of instability the Fed has been causing, they're now in the state of like a plane experiencing turbulence," he explained.

Also Read:Bitcoin,Ethereum, Dogecoin Rise Amid CFTC Binance Lawsuit: Analyst Says Apex Crypto Under $30K Is A Gif

Last week, Srinivasanmade a bold prediction, claiming thatBitcoin's price could skyrocket to $1 millionby June 17 due to the rapid devaluing of the U.S. dollar in the coming months.

Another crypto analyst, who goes byCrediBULL Cryptoon Twitter,tweetedon Saturday that he believes Bitcoin is in the early stages of a big bull run following a long bottoming-out period last year.

At the time of writing, Bitcoin was trading at $27,965, down by two percent in the last seven days.

Read Next:Bitcoin White Paper Found Hidden In Apple's MacOS: A Tribute To Satoshi Nakamoto?

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How Quantum Computing will impact India – The Indian Express

In this episode of The Indian Express weekly tech podcast Our Own Devices, host Nandagopal Rajan is joined by Amith Singhee, Director, IBM Research India & CTO IBM India and South Asia to discuss Quantum Computing, its challenges, impact, and its future in India.

Produced by Anant Nath SharmaEdited and mixed by Abhishek Kumar

Introducing Amith Singhee (00:00)Defining Quantum Computing (00:40)Will laptops have Quantum Computing (01:50)Infrastructural flexibility to include Quantum Computers (03:11)How will this benefit India (04:28)Biggest challenges facing the Indian ecosystem (07:32)IBMs role in this ecosystem (08:45)Generating awareness in the market (10:19)Bringing technology and business together (12:19)Readiness vs commercial use (14:13)Immediate and long-term future of Quantum Computing in India (15:56)

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How Quantum Computing will impact IndiaIn this episode of The Indian Express weekly tech podcast Our Own Devices, host Nandagopal Rajan is joined by Amith Singhee, Director, IBM Research India & CTO IBM India and South Asia to discuss Quantum Computing, its' challenges, impact, and its' future in India. Produced by Anant Nath Sharma Edited and mixed by Abhishek Kumar ------Introducing Amith Singhee (00:00)Defining Quantum Computing (00:40)Will laptops have Quantum Computing (01:50)Infrastructural flexibility to include Quantum Computers (03:11)How will this benefit India (04:28)Biggest challenges facing the Indian ecosystem (07:32)IBM's role in this ecosystem (08:45)Generating awareness in the market (10:19)Bringing technology and business together (12:19) Readiness vs commercial use (14:13)Immediate and long-term future of Quantum Computing in India (15:56)

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D-Wave Quantum Inc. Announces Date for Fourth Quarter and Full Year Fiscal 2022 Earnings Call – Yahoo Finance

BURNABY, British Columbia & PALO ALTO, Calif., April 10, 2023--(BUSINESS WIRE)--D-Wave Quantum Inc. (NYSE: QBTS), a leader in quantum computing systems, software, and services, and the only quantum computing company building commercial annealing quantum computing systems and developing gate-model quantum computing systems, today announced it will release its financial results for the fourth quarter and fiscal year ended December 31, 2022 on Friday, April 14 before market open. The press release will be available on the D-Wave Investor Relations website: https://ir.dwavesys.com/.

In conjunction with this announcement, D-Wave will host a conference call on Friday, April 14, 2023, at 8:00 a.m. (Eastern Time), to discuss the Companys financial results and business outlook. The live dial-in number is 1-877-407-3982 (domestic) or 201-493-6780 (international), conference ID code 13738032. Participating in the call will be Chief Executive Officer Alan Baratz and Chief Financial Officer John Markovich. A live webcast and subsequent replay of the call will also be available on the "Investor Relations" page of D-Waves website at https://ir.dwavesys.com/events-and-presentations/.

About D-Wave Quantum Inc.

D-Wave is a leader in the development and delivery of quantum computing systems, software, and services, and is the worlds first commercial supplier of quantum computersand the only company building both annealing quantum computers and gate-model quantum computers. Our mission is to unlock the power of quantum computing today to benefit business and society. We do this by delivering customer value with practical quantum applications for problems as diverse as logistics, artificial intelligence, materials sciences, drug discovery, scheduling, cybersecurity, fault detection, and financial modeling. D-Waves technology is being used by some of the worlds most advanced organizations, including Volkswagen, Mastercard, Deloitte, Davidson Technologies, ArcelorMittal, Siemens Healthineers, Unisys, NEC Corporation, Pattison Food Group Ltd., DENSO, Lockheed Martin, Forschungszentrum Jlich, University of Southern California, and Los Alamos National Laboratory.

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Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, which statements are based on beliefs and assumptions and on information currently available. In some cases, you can identify forward-looking statements by the following words: "may," "will," "could," "would," "should," "expect," "intend," "plan," "anticipate," "believe," "estimate," "predict," "project," "potential," "continue," "ongoing," or the negative of these terms or other comparable terminology, although not all forward-looking statements contain these words. These statements involve risks, uncertainties, and other factors that may cause actual results, levels of activity, performance, or achievements to be materially different from the information expressed or implied by these forward-looking statements. We caution you that these statements are based on a combination of facts and factors currently known by us and our projections of the future, which are subject to a number of risks. Forward-looking statements in this press release include, but are not limited to, statements regarding the date of its earnings release and the timing of the filing of its Form 10-K. We cannot assure you that the forward-looking statements in this press release will prove to be accurate. These forward-looking statements are subject to a number of risks and uncertainties, including, among others, various factors beyond managements control, including the completion of the external audit and the uncertainties and factors set forth in the sections entitled "Risk Factors" and "Cautionary Note Regarding Forward-Looking Statements" in the Registration Statement, as well as factors associated with companies, such as D-Wave, that are engaged in the business of quantum computing. Furthermore, if the forward-looking statements contained in this press release prove to be inaccurate, the inaccuracy may be material. In addition, you are cautioned that past performance may not be indicative of future results. In light of the significant uncertainties in these forward-looking statements, you should not place undue reliance on these statements in making an investment decision or regard these statements as a representation or warranty by any person we will achieve our objectives and plans in any specified time frame, or at all. The forward-looking statements in this press release represent our views as of the date of this press release. We anticipate that subsequent events and developments will cause our views to change. However, while we may elect to update these forward-looking statements at some point in the future, we have no current intention of doing so except to the extent required by applicable law. You should, therefore, not rely on these forward-looking statements as representing our views as of any date subsequent to the date of this press release.

View source version on businesswire.com: https://www.businesswire.com/news/home/20230410005293/en/

Contacts

Investors: Kevin Huntir@dwavesys.com

Media: Amy McDowellmedia@dwavesys.com

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Innovating quantum computers with fluxonium processors – Phys.org

This article has been reviewed according to ScienceX's editorial process and policies. Editors have highlighted the following attributes while ensuring the content's credibility:

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The next generation of quantum devices requires high-coherence qubits that are less error-prone. Responding to this need, researchers at the AQT at Berkeley Lab, a state-of-the-art collaborative research laboratory, developed a blueprint for a novel quantum processor based on "fluxonium" qubits. Fluxonium qubits can outperform the most widely used superconducting qubits, offering a promising path toward fault-tolerant universal quantum computing.

In collaboration with researchers from the University of California, Berkeley, and Yale University, the AQT team pioneered a systematic theoretical study of how to engineer fluxonium qubits for higher performance while offering practical suggestions to adapt and build the cutting-edge hardware that will fully harness the potential of quantum computing. Their results were published in the journal PRX Quantum.

Superconducting quantum processors consist of multiple qubits designed to have different transition frequencies facilitating precise control of individual qubits and their interactions. The transmon qubit, one of the most widely used in the field for superconducting processors, typically has low anharmonicity. Anharmonicity is the difference between relevant transition frequencies in a qubit. Low anharmonicity contributes to spectral crowding (when qubit frequencies are close to resonating with each other), making the processor more difficult to control since qubit frequencies are arranged tightly together.

In contrast, high anharmonicity allows researchers to have better qubit control because there's less overlap between the frequencies that control the qubits and those that drive any given qubit to higher energy levels. The fluxonium qubit has inherent advantages for complex superconducting processors, such as high anharmonicity, long coherence times, and simple control. Project Scientist Long B. Nguyen at Berkeley Lab's Advanced Quantum Testbed. Nguyen is the lead paper author. Credit: Monica Hernandez/Berkeley Lab

Building on AQT's robust research and development history on superconducting circuits, the team leading the fluxonium-based architecture focused on the scalability and adaptability of the processor's main components, with a set of parameters that researchers can tune to increase the runtime and fidelity of quantum circuits. Some of these adaptations allow simpler operation of the system. Researchers proposed, for example, controlling the fluxonium qubits at low frequency (1-GHz) via microwave pulses directly generated by an electrical arbitrary waveform generator. This straightforward approach allows researchers to design processors and set up multiple qubits flexibly.

Long B. Nguyen is a project scientist at AQT and the paper's lead author. Nguyen started researching alternative superconducting qubits as a University of Maryland graduate student working with Professor Vladimir Manucharyan. Manucharyan introduced fluxonium qubits to the field just a decade earlier, and in 2019 Nguyen demonstrated the possible longer coherence times with fluxonium circuits. The fluxonium circuit is composed of three elements: a capacitor, a Josephson Junction, and a superinductor, which helps suppress magnetic flux noisea typical source of unwanted interference that affects superconducting qubits and causes decoherence.

"I always wanted to study new physics, and I focused on fluxonium because it appeared to be a better alternative to the transmon at the time. It has three circuit elements that I could play with to get the type of spectra I wanted. It could be designed to evade decoherence due to material imperfections. I also recently realized that scaling up fluxonium is probably more favorable since the estimated fabrication yield is high, and the interactions between individual qubits can be engineered to have high-fidelity," explained Nguyen.

To estimate and validate the performance of the proposed fluxonium blueprint, the team at AQT, in collaboration with the paper's researchers, simulated two types of programmable quantum logic gatesthe cross-resonance controlled-NOT (CNOT) and the differential ac-Stark controlled-Z (CZ). The high fidelities resulting from the gates' simulation across the range of proposed qubit parameters validated the team's expectations for the suggested blueprint.

"We provided a potential path towards building fluxonium processors with standard, practical procedures to deploy logic gates with varying frequencies. We hope that more R&D on fluxonium and superconducting qubit alternatives will bring about the next generation of devices for quantum information processing," said Nguyen.

More information: Long B. Nguyen et al, Blueprint for a High-Performance Fluxonium Quantum Processor, PRX Quantum (2023). DOI: 10.1103/PRXQuantum.3.037001. link.aps.org/doi/10.1103/PRXQuantum.3.037001

Journal information: PRX Quantum

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