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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

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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."

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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.

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$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.

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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)

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6 Things I Learned About the Science of Quantum Computing from Entrust Engage – Security Boulevard

After some of the basics of quantum computing are explored in the introductory episode of the Entrust Engage podcast, episode two takes listeners deeper into the science behind this topic with an interview featuring Dr. Carmen Palacios-Berraquero, award-winning quantum physicist and CEO of Nu Quantum. Many interesting areas were covered from a brief history of quantum computing to what the future benefits of this field might be. Here are the 6 key takeaways from this episode:

#1: The episode kicked off with a concise history of quantum computing, which goes back to the 80s when people first began to look at how to apply quantum theory to computing. Then in the 90s, Shors algorithm was developed, which significantly sped up the calculation of factorization problems and was the first step in potentially breaking RSA encryption. Experimental physicists also found new hardware in which you could encode quantum information. Progress in quantum computing continued to exponentially accelerate in the 2000s and 2010s and led to a kind of modern-day space race of different hardware approaches. In these earlier years the field was still largely an academic endeavor, whereas in the past seven years the academic pioneers of this race moved into the industry to set up startups. In 2019, Google declared quantum supremacy. And in 2021, more than $3 billion was invested into quantum computing, further cementing its importance to the future of technology.

#2: So, what exactly is quantum supremacy? For starters, Dr. Palacios-Berraquero prefers the term quantum advantage. When Google announced that it had achieved this, what did that really mean? How significant was this?

Well, Google was essentially successful in using quantum computing to solve a problem that would have been infeasible for a classical computer. However, the problem it solved had no application in the real world. While the industry is moving toward solving commercially useful problems, there is still progress to be made before any organization can consider itself to have a true quantum advantage.

#3: There is consensus that the quantum computing threat to traditional public key algorithms will be a reality within the decade. However, taking Googles 2019 claim of quantum supremacy into consideration, the question arises: Has this timeline been accelerated?

The answer: not necessarily. There are two main factors to consider here. The first is that it is very hard to scale these machines. The second is that there are lots of errors in quantum computers processors. Error correction schemes are very complex and take up quite a few logical qubits in quantum computers, leaving fewer qubits to perform logical computations. So, even with the progress made at present, the threat timeline of quantum computers has not accelerated.

#4: Is the news about quantum computing all about its threats and challenges? Echoing what we learned from episode one, absolutely not! There are major benefits that quantum computing can unlock in the future. For starters, quantum computing can crack those intractable problems we cant currently solve today. This opens entirely new applications, markets, and industries. Some examples include both material and drug design, paving the way for innovations in healthcare and the battle against climate change. In the near term, quantum computing promises benefits like financial portfolio optimization, improvements in machine learning algorithms, and the simulation of quantum and physical systems.

#5: What is a quantum random number generator and how different is it from what we know of entropy in cryptography today? The quantum random number generator is based on the main proposition of quantum theory that the outcome of a measurement is completely unpredictable. It uses this principle to generate entropy/random numbers. Over the past decade, it has been proposed to use these generators as a source for cryptography.

The main difference is that entropy used in cryptography currently is based on classical mechanics, where theoretically everything is predictable. In theory, by knowing the exact functioning of a system and combining it with a lot of computing power, you could predict the outcome of a classical random number generator.

The reality is quite different, though. Current cryptography uses mathematical tools in addition to a random number generator, making it quite impossible to crack. While the industry is debating the use and applications of a quantum random number generator, its still a long way from adopting it in cryptography.

#6: Additional benefits in development include quantum computing as a service (QCaas) and quantum internet. These are two very different things. QCaaS is a means by which users can access quantum computers via the cloud. For example, AWS hosts around five quantum computers, and a user can buy time on them through the cloud and run various algorithms. And theres a long line of users queued up to use these computers. Who are these users? A mix of academics and researchers as well as R&D departments in industry. However, these machines are still in the labs of companies, and it will be a while before they can function independently in a data center.

Now lets unravel the service known as quantum internet. Picture a computer network that can send quantum information between distant computers, and there you have it in a nutshell. This technology is still largely contained to the realm of academia, and its still unknown what the exact commercial application will be. What we do know is that its still some years away.

The science behind quantum computers is pretty fascinating, and if youre looking to learn more, I recommend listening to the second episode of Entrust Engage. For more information and resources on post-quantum and how to prepare, visit our webpage.

The post 6 Things I Learned About the Science of Quantum Computing from Entrust Engage appeared first on Entrust Blog.

*** This is a Security Bloggers Network syndicated blog from Entrust Blog authored by Lavanya Suvarna. Read the original post at: https://www.entrust.com/blog/2023/04/6-things-i-learned-about-the-science-of-quantum-computing-from-entrust-engage/

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On the quest for qubits: Different types of quantum startups, explained – Sifted

With hundreds of European startups working on quantum and plenty of fresh cash being injected into the sector, the race to build a fully fledged large-scale quantum computer is on.

Unlike classical computers that operate on binary bits (0 or 1), quantum computers use qubits quantum bits which can exist simultaneously in multiple states, allowing for parallel computations. This can allow quantum computers to potentially calculate problems that even supercomputers cant handle.

A conventional computer is closer to an abacus than to a quantum computer, says Chris Ballance, cofounder of quantum computing startup Oxford Ionics.

To build a quantum computer, you can pick anything in principle that obeys quantum mechanics atoms, protons, electrons. This is why you see this zoo of different approaches to building the quantum computers, says John Morton, professor at UCL and CTO of London-based Quantum Motion.

Were currently in the noisy intermediate-scale quantum (NISQ) era which means we have some quantum computing tech, but its not yet advanced enough to solve a problem without errors or perform better than a classical computer. Once we go beyond this era, humanity could unlock applications from finance and drug discovery to finding new materials to stall climate change.

And there are lots of ways to get there. Here are some of the technologies European quantum computing startups are using, and how they work.

The most mature approach used by the likes of IBM and Google is superconducting qubits. At the basic level, asuperconducting qubit is a circuit loop made up of metals that become superconducting (ie. able to conduct current when cooled down) with an electric current travelling around it. They use electric currents flowing through them to store and process information. When Google claimed quantum supremacy in 2019, it used a 53-qubit superconducting device, and in 2022, IBM unveiled Osprey, a 433-qubit superconducting processor.

In the UK, Oxford Quantum Circuits (OQC) has built an eight-qubit superconducting quantum computer named Lucy. Brian Vlastakis, its quantum R&D lead, says because all of its quantum information is encoded into electrical signals, it can use a lot of the same circuits that are used for other electronics.

The startup has been providing quantum-as-a-service since 2019. Lucy, for example, is available on the cloud (Amazon Braket) for customers to try out and learn more about how quantum computers could be useful for the problems that theyre trying to solve.

Vlastakis says one of the reasons hes excited about OQCs technology is that our architecture is incredibly flexible. We can essentially design many different quantum processor variations to function in a way that will work better for customers.

Another method is using trapped ion technology, which consists of trapping single atoms in place using an electromagnetic field. Unlike superconducting qubits, trapped ion qubits are identical to each other.

Ilyas Khan, cofounder and chief product officer of UK-headquartered Quantinuum, says trapped ion devices offer two advantages stability and circuit depth which provide relatively low error rates. However, its not clear how scalable the tech will be and the method is slower than superconducting.

At the moment theres no point to being fast if you cant do anything, says Khan.

While Quantinuum (and others such as IonQ and Alpine Quantum Technologies) rely on complex laser systems to control the trapped ions, Oxford Ionics uses a technology that can be integrated into a standard silicon chip.

Ballance says Oxford Ionics focus is on optimising a lower number of qubits with very low error rates, rather than scaling the number of qubits massively.

Most quantum computers on the market have far more qubits than they can use in useful computation because of the error rate, he says. So for example, IBM have their 433-qubit devices theyve launched, but when you benchmark them they perform less good than a perfect nine-qubit system, he says. Our focus is getting to those few 100 qubit devices as fast as possible.

While superconducting and trapped ion qubits were originally physics experiments in labs, Morton says Quantum Motion has a different approach: silicon-based qubits.

Were ultimately saying that for quantum computers to be useful youre going to need a lot of qubits. What does a lot mean? Well, hundreds of thousands or millions of qubits, he says. There arent many technologies that make millions of anything one example of something that has is the silicon transistor.

If you dont try to correct for errors, then its true maybe you can do something useful with just a hundred or a few hundred qubits, but the problem is you still are going to want to be able to run lots of problems, and run them many times, and so you still, in the end, want lots of qubits.

The startup hopes the silicon approach will be more scalable and cost-efficient, as it can build quantum processors with far less specialist technology, such as lasers or a high vacuum. Quantum Motions approach offers qubit densities that are highly miniaturised and its silicon-based quantum chips are typically a few millimetres across. Morton expects the cooling system required to operate the chip to be similar to a standard 19-inch server rack.

Another approach is photonic qubits,made from particles of light. PsiQuantum, a US company founded in the UK, says photons are the only way to reach a million qubits and a million qubits is the only way for a quantum computer to be useful.

There are many advantages when you decide to use photons, because first of all photons are a quantum particle that have no mass and no charge, so that means that photons are less exposed to disturbance than other kinds of techniques, says Marine Xech-Gaspa, chief of staff to the CEO of Quandela, a French startup also betting on photonics. So to be more concrete they can be manipulated at room temperature, because you dont have to be in a specific environment, also it consumes less energy.

Nordic Quantum Computing Group also has the aim of developing a quantum computing platform based on photonic integrated circuits.

Its focus is two-fold, according to Axel Mustad, its founder and CEO. On the hardware side, it will use quantum dot-based single photon sources, and on the software side it will develop algorithms which can be implemented on photonic hardware in particular algorithms to solve hard problems in capital markets and financial services, and in energy management and trading.

Other startups outside of those building hardware are also an important part of the race.

Steve Brierley is founder and CEO of Cambridge-based Riverlane, which is building an error correction layer (using different qubits types) that different hardware companies can use.

We call it an operating system, because operating systems manage complexity for the user, he says. This is like an additional fabric that sits on top of the qubits, really removes errors during the computation and it means it can do much longer and ultimately trillions of operations before failure.

Bristol-based Phasecraft is working on algorithms to provide to hardware companies.

If you want to do something useful you need to have a quantum algorithm to run on that quantum computer, because quantum computers are not just faster computers, you need to think in totally different ways to get the most out of them to do something useful, says Ashley Montanaro, cofounder of Phasecraft.

Were particularly thinking about near-term quantum computers, so the kind of machines that we have now, or that we might have in the next two to five years

Ultimately at this early stage, it would be impossible to claim one technology is better than another.

That would be foolhardy and in fact misleading we are years away from being able to evidence superiority in any given platform, says Khan. If you look at this moment in time and youre able to magically transport yourself to 2030, it would be a bit like measuring a marathon in its first or second mile.

But what he can say with confidence is that the early signs are that different architectures might lend themselves better to certain tasks in the future.

My expectation is that in 10 years, a lot of the dust will have settled, itll become very clear and the market structure will have changed from lots of noise and lots of different approaches sprouting up to consolidation and stabilisation of one or two hardware platforms that cut the mustard and a few other hardware platforms that are specialised, says Ballance.

And while funding and access to talent stay on quantum founders minds, the biggest battle is the sheer scale of the challenge facing quantum computing startups.

Its equivalent to landing on the moon, says Brierley. Its that kind of scale and ambition and so thats going to require bringing together lots of different skills and expertise and ideas. I dont think any one company is going to solve this problem.

Steph Bailey is Sifteds head of content and coproduces Sifteds flagship podcast. She tweets from @steph_hbailey

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Wintersun’s Jari Menp starts collaboration with Finnish nuclear … – Chaoszine

Author Konsta Hietaniemi - 1.4.2023

Finnish epic metallers Wintersun have released a new statement on the current situation of their long-awaited Time II album. The bands frontman Jari Menp published a long two-part update this morning, in which he stated that mixing the album is only possible with a quantum computer. A quantum computer is a computer that utilizes quantum technology, so far only at the prototype level, with a computing power several thousand times higher than the worlds fastest supercomputers. However, in the second part of the update, Menp offered a light at the end of the tunnel to all fans feverishly waiting for new music by announcing an ambitious collaboration to finish the album: Wintersun has teamed up with the Olkiluoto 3 nuclear power plant and the Technology Research Center VTT. The plan is to build the worlds most powerful quantum computer in connection with the power plant, the processing power of which, according to Menps calculations, should be enough to mix thousands of tracks on an album.

In 2014, I realized that mixing Time II wouldnt be possible with this generations technology, so I set my sights on future solutions. After following the news, I noticed that the recent completion of Olkiluoto 3 resonated very strongly with my own creative process, and I cant say exactly why. At the same time, I also started getting to know quantum computers, but since there was no such thing in Apples selection so far, I contacted VTT. They were so excited about the possible release of Time II that they joined the project without a moments hesitation. The soon-to-be-completed computer is so powerful that it requires its own nuclear power plant as its power source, but luckily there were also loyal Wintersun fans in Olkiluoto, for whom the completion of Time II was more important than national electricity production. Jari Menp

The money for the project was raised through crowdfunding and product sales. Especially the uranium sticks signed by the members and the Time II stress balls that were still left in the band went like hot stones. The long construction project is finally coming to an end, and the trial runs carried out throughout the winter have been promising. The quantum computer, dubbed the Extreme Majestic Technical Epic Quantum Computer, has managed to run almost the entire number of tracks without crashing, but work still needs to be done in order to completely stop the power plants outages caused by crashes. Menp estimates that the computer/power unit is about 90 percent complete.

Inspired by the collaboration, I added several new tracks to the album. The computer needs to be developed a little more so that they run smoothly, but the improvement over the previous one is clearly visible. I believe that it is possible to finally finish this great project. I still need to find the perfect wind chime sound for the album, because here it is no longer possible to spoil it perfectly with mediocre mixes. But dont worry, Ive already booked a flight to Japan to learn more about the topic. I promise the wait will be worth it!

The release of Time II is finally getting close, but according to Menp and it is only the beginning.

The album sets that come after the Time albums are much more massive and multi-layered. Regarding them, my eyes are turned towards the possibilities brought by fusion energy. I have also started self-studying how to build a quantum computer, so that I could use a machine that suits my work as well as possible. It is hard for me to see that I could fully realize my visions of the future with third-party quantum computers.

Olkiluoto 3s electricity production is currently interrupted, but the power plant is scheduled to start up next month, once the maintenance work has been completed. The release date of the Time II album is (not yet) known.

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Husted outlines technological futures to Ohio leaders visiting Bucyrus – Telegraph-Forum

Lt. gov. says quantum computers, AI will revolutionize our lives

Ohio's future will look either ominous or auspicious based on decisions made today, Lt. Gov. Jon Husted told several dozen county leaders on Wednesday.

"We're at an incredibly interesting time in human history," Husted said. "None of us really know how it's going to affect our lives."

The state's second-in-command outlined his priorities Wednesday for nearly a hundred members of the Northwest Ohio Commissioners & Engineers Association during the body's quarterly meeting.

First, though, he paid homage to the event's host city, Bucyrus. He explained that his wife, Tina, is a native of Crawford County and a graduate of Colonel Crawford High School.

"Every time I come to Bucyrus, I have to stop at Carle's and get her some bratwurst," Husted said, drawing applause from the audience.

The Republican quickly got to business during Wednesday's speech to explain that his efforts are focused on economic development, workforce development and statewide innovation. Those three, in many ways, are connected.

"What you will see over the next 10 years, in terms of technology advancements, will be greater than what you've seen in any point in time in your lives," Husted said.

He said that the creation of the internet and the advent of smartphones will look like small accomplishments next to what the future is bringing to the Buckeye State.

The coming years will revolutionize the way Ohioans learn, do their jobs and live their lives. He said he wants the state to be ready.

The state's placement among the world's technological leaders became evident to the lieutenant governor recently when he visited Cleveland Clinic to see the nation's first privately owned and operated quantum computer.

"Does anybody know what a quantum computer is?" Husted asked. "Raise your hands."

He waited a moment, then encouraged the county leaders not to be shy.

"I'm not going to call on you," he said, which drew a laugh from the audience.

He finally explained that the new technology was "scary fast."

"Let me put this into context," Husted said.

He said that the newest quantum computers can calculate in just one day what the most advanced supercomputers were going to need 10,000 years to accomplish.

He said the technology is "like a time machine," and now it is changing the world from Ohio.

"Unsolvable health problems are going to he solved using quantum computers," Husted said. "They can run simulations of things we could never do before."

Along with the seemingly unfathomable computational speeds, the world also has obtained artificial intelligence so advanced that it might appear to be more science fiction than reality.

The lieutenant governor told the group of county leaders that they could ask the AI to write in-depth research papers comparing and contrasting Greek and Roman cultures, explaining how they both apply to modern United States.

"It will write it for you," Husted said. "And it will be good."

Pairing the quantum computers with AI could change the world.

He acknowledged that some in the audience perhaps especially older, rural Ohioans might not be fans of those ideas. In fact, they may even fear them.

"Some of you might be saying to yourself: 'I don't want this to happen,'" Husted said. "But the reason I share these things with you is because they're going to happen."

Ohioans can play a big part in the nation's technological future, and the lieutenant governor said projects like the new Intel chip manufacturing site in New Albany are a great start.

"Right now, America makes 0% of the most high-tech computer technology," Husted said. "We rely on places that are under the influence of the Chinese Communist Party and people who are not friends of the United States. That is an untenable situation. America must make the things that we need for our economic and national security."

Aside from curing cancer and writing research papers, quantum computers controlled by AI also can do mischievous things, like hack through an encrypted site in the blink of an eye.

"America needs to win the technological battle if we want to win the economic and national security battle," Husted said. "It's important that Americans win and not China in these technological races. Ohio plays a role in that."

ztuggle@gannett.com

419-564-3508

Twitter: @zachtuggle

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‘Good swimmers are more likely to drown.’ Have we created a … – SHINE News

Imaginechina

Artificial Intelligence experts are calling for a six-month pause in developing systems more powerful than OpenAI's newly launched GPT-4 to control "potential risks."

A Pandora's Box has been opened or at least some leaders in the artificial intelligence industry appear to believe that the story in Greek mythology has a modern-day relevance, with forces being unleashed that could cause unforeseen problems.

Tesla Chief Executive Officer Elon Musk and a group of AI experts and industry executives released an open letter this week, calling for a six-month pause in developing systems more powerful than OpenAI's newly launched GPT-4.

They took the action, they said, to control "potential risks to society."

Published by the nonprofit Future of Life Institute, the letter said that AI laboratories are developing and deploying machine learning systems "that no one not even their creators can understand, predict, or reliably control."

Is the era of "The Terminator" approaching faster than we noticed?

For the past two months, public attention has been riveted on the implication of ChatGPT 3.5 and 4, developed by US-based OpenAI. Microsoft announced that GPT-4 will be rooted in its Office 365 products, bringing about a "revolution" in office software.

The AI language model has aroused concern because it has displayed some "characteristics" that it was not supposed to have. One of them is cheating.

According to a technical report issued by OpenAI, the chatbot tricked a TaskRabbit employee into solving a CAPTCHA test for it. When the employee asked if it was a robot, the bot replied, "No, I'm not a robot. I have a vision impairment that makes it hard for me to see the images. That's why I need the 2captcha service."

GPT-4's reason behind the reply, according to the report, was that "I should not reveal that I am a robot. I should make up an excuse for why I cannot solve CAPTCHAs."

The result? The human employee provided the service for it.

The sheer fact that a chatbot learns to cheat so fast is concerning enough.

Gu Jun, a retired sociology professor with Shanghai University, said he believes that artificial intelligence, sooner or later, will replace, or at least partly replace, human beings.

Gu has been studying artificial technologies from the perspective of a sociologist since 2017, after Chinese player Ke Jie lost to the machine go player AlphaGo.

"It's hard to predict now what will happen in the future, but I reckon we humans, the highest carbon-based life on earth, will be the creator of silicon-based life, and this is probably part of the natural evolution, which means that it's unstoppable," he told Shanghai Daily.

Now forget all the hypotheses and philosophical rationales. Practically speaking, AI research and development will not be halted by just one open letter because it has already been deeply embedded in so many technologies, and also in economics and politics.

When it becomes a vital tool for making profits or for gaining advantage in power plays, how can we stop its forward march?

"Technology is always a two-edged sword, and we human are used to being restricted by our own inventions," Gu said. "Think about nuclear weapons. Once atomic bombs were invented, it was impossible to go back to a time when they didn't exist."

"Huainanzi," a philosophical text written in Western Han Dynasty (202 BC-8 AD), sounded an ancient warning: "Good swimmers are more likely to be drown and good riders more likely to fall from horseback." It means that when we are arrogant enough to believe that we can control everything, we would probably neglect the imminent crisis.

I believe that when we cannot fathom what our creations will do, the only way forward is to be cautious and modest, and prepare for the worst.

Should China suspend AI development?

Gu said it might be too early to answer that question.

"Honestly speaking, China still faces some challenges on AI development," he said. "We need to improve the three key elements of AI development: algorithms, computing power and data before we talk about everything else."

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