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MetaMask Introduces Ethereum-to-Fiat Conversion Feature – The Crypto Basic

MetaMask, the prominent cryptocurrency wallet, has revealed a new functionality enabling users to exchange Ethereum (ETH) for fiat currency.

In a September 5 announcement on X, MetaMask stated that individuals with crypto wallets linked to its Portfolio platform can convert Ether into fiat currency and transfer the funds to their bank accounts in the United States, United Kingdom, and select European regions.

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MetaMask also mentioned that the initial launch will exclusively support ETH but intends to extend this feature to native gas tokens on layer two networks in upcoming developments.

Approximately five months after introducing a buying feature, MetaMask unveiled a new selling function, permitting users to sell cryptocurrencies and receive fiat funds directly from their bank accounts, PayPal, or debit and credit cards.

During the initial launch, MetaMask outlined its ambitious goal of extending the buy crypto service to encompass over 90 different tokens, making it accessible to users in more than 189 countries.

MetaMask has actively engaged in strategic partnerships with several crypto on-ramp providers, further enhancing its ecosystem. Notable collaborations include ventures with MoonPay, Sardine, Transak, and Wyre.

These partnerships play a pivotal role in simplifying the process of converting between fiat currency and cryptocurrencies, solidifying MetaMasks reputation as a user-friendly gateway into the digital asset realm.

In addition to these consumer-oriented features, MetaMask has demonstrated its commitment to addressing the needs of institutional clients.

In March, the platform introduced a specialized staking marketplace tailored to cater to the requirements of institutional investors, underscoring its dedication to serving a diverse spectrum of users, ranging from individual retail traders to sizable institutions.

Apart from the Sell feature, MetaMask offers support for Ethereum and a wide range of ERC-20 tokens.

Furthermore, it extends its compatibility to various EVM-compatible networks, such as Arbitrum, Optimism, BNB Chain, Polygon, and Avalanche, along with its associated tokens.

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Disclaimer: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basics opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.

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Polygon, Addressing Ethereum’s Constraints – CryptoCoin.News

Polygon Overview

Polygon, formerly known as Matic Network, is an interoperability and scaling framework that aims to address some of the limitations of the Ethereum blockchain. Ethereum has gained significant popularity in the blockchain space, but it suffers from certain drawbacks, such as throughput, poor user experience, and lack of community governance. Polygons mission is to overcome these limitations and create a more efficient and user-friendly ecosystem for developers and users alike.

While Ethereum revolutionized the blockchain industry with its smart contract functionality, it still faces several challenges. One major limitation is throughput, which refers to the number of transactions the network can handle per second. Ethereums current network congestion often leads to high gas fees and slow transaction confirmation times.

Another limitation is the poor user experience. Ethereums complex and technical interface makes it difficult for average users to interact with decentralized applications (dApps) and smart contracts. This hampers mainstream adoption, as it poses a significant barrier to entry for non-technical users.

Furthermore, Ethereum lacks a clear mechanism for community governance. Decisions regarding upgrades, protocol changes, and resource allocation are often centralized and controlled by a few leading entities. This centralized decision-making process goes against the core principles of decentralization and community-driven governance.

Polygon addresses Ethereums throughput limitations by providing a solution that scales the Ethereum blockchain. It allows developers to launch customizable blockchain networks called Polygon networks that are built on top of Ethereum and offer specific functionalities. These networks can be tailored to handle different transaction volumes and computational requirements, increasing the overall throughput of the ecosystem.

By creating such interoperable networks, Polygon enables small transactions to be settled on these chains, reducing the load on the Ethereum mainnet. This approach offloads a significant portion of the network traffic, resulting in improved throughput and faster transaction confirmations. Users can enjoy a seamless experience with reduced gas fees and faster transaction execution.

In addition to addressing throughput limitations, Polygon also focuses on enhancing the user experience of interacting with blockchain applications. Polygon achieves this through its user-friendly interface and integration with existing Ethereum tools and resources.

With Polygon, developers can seamlessly deploy their Ethereum-compatible dApps on the Polygon networks. Users can access these dApps using their existing Ethereum wallets and tools, without the need for any additional setup or learning curve. This streamlined experience makes it easier for users to explore and engage with decentralized applications, making blockchain technology more accessible to a wider audience.

Recognizing the importance of decentralized decision-making, Polygon introduces community governance to the Ethereum ecosystem. The MATIC token, which serves as the native token of the Polygon ecosystem, plays a crucial role in this governance mechanism. MATIC token holders have the power to vote on proposals, upgrades, and significant changes to the network.

This community-driven governance empowers the users and stakeholders of the Polygon ecosystem to collectively decide on the future direction of the project. It ensures that decision-making power is distributed among the community and promotes a more transparent and inclusive approach to blockchain governance.

One of the key features of Polygon is its ability to launch customizable blockchain networks. Developers can leverage this capability to tailor their blockchain networks to meet their specific requirements and functionalities. They can define the transaction throughput, computational capabilities, and consensus mechanisms of their networks, enabling them to create efficient and scalable solutions.

These customizable blockchain networks offer flexibility and versatility to developers, empowering them to build applications and services that cater to diverse use cases. This approach encourages innovation and allows developers to explore new possibilities within the blockchain ecosystem.

Polygons architecture is designed to provide a scalable and interoperable framework for Ethereum-compatible blockchains. It consists of several layers that work together to create a seamless experience for developers and users.

The first layer is the Ethereum layer, which serves as the foundation for the entire ecosystem. It ensures compatibility with the Ethereum Virtual Machine (EVM) and enables smooth integration with existing Ethereum tools and resources.

The security layer is responsible for the overall security of the Polygon ecosystem. It incorporates various security mechanisms, including optional shared security, to ensure the integrity and trustworthiness of the network.

The Polygon networks layer is where the customizable blockchain networks are launched. These networks can be optimized for specific use cases and provide the required scalability and functionality.

Finally, the execution layer handles the execution of smart contracts and transactions within the Polygon ecosystem. It leverages various scalability technologies, such as POS Chain, Plasma Chains, ZK-rollups, and optimistic rollups, to enhance the throughput and performance of the network.

Polygon aims to create an interconnected landscape of blockchains, where different chains can plug into a common hub and leverage each others strengths. This interoperability allows the transfer of assets and data across different blockchains, enabling developers to build cross-chain applications and services.

By connecting various blockchains, Polygon overcomes the limitations of individual chains and harnesses the collective power of the entire ecosystem. This approach promotes collaboration and enables blockchain networks to work together seamlessly, expanding the possibilities of decentralized applications and services.

To address the scalability challenge of the Ethereum network, Polygon incorporates various scalability technologies into its framework. These technologies include POS Chain, Plasma Chains, ZK-rollups, and optimistic rollups.

POS Chain, or proof-of-stake chain, is a scalable second-layer solution that operates on top of Ethereum. It uses a consensus mechanism based on staking and ensures faster confirmation times and lower fees compared to the Ethereum mainnet.

Plasma Chains are another scalability solution that leverages Ethereums Plasma framework. They allow for the creation of child chains that can process a high volume of transactions and settle them on the Ethereum mainnet periodically.

ZK-rollups, or zero-knowledge rollups, are a technology that combines the scalability of rollups with the privacy and security of zero-knowledge proofs. They enable a significant increase in transaction throughput while maintaining the trust and privacy of the underlying blockchain.

Optimistic rollups are a layer 2 scaling solution that enables faster and cheaper transactions by batching multiple transactions into a single proof. They achieve scalability by optimizing the way transactions are processed and verified.

By implementing these scalability technologies, Polygon significantly improves the performance and scalability of the Ethereum network, making it more capable of handling large-scale applications and high transaction volumes.

Polygon faces competition from other blockchain interoperability projects like Polkadot and Cosmos. These projects also aim to create an interconnected ecosystem of blockchains and overcome the limitations of individual chains.

Polkadot, for example, provides a scalable framework for creating and connecting multiple blockchains in a heterogeneous manner. It focuses on interoperability between blockchains with different architectures and consensus mechanisms.

Cosmos, on the other hand, offers an interoperability protocol that enables independent blockchains to communicate and interact with each other. It aims to create an internet of blockchains, where different chains can seamlessly exchange assets and information.

While all these projects share the goal of blockchain interoperability, each has its unique approach and features. The competition among these projects drives innovation and pushes the boundaries of what is possible in the blockchain space.

In conclusion, Polygon is a comprehensive interoperability and scaling framework that addresses the limitations of the Ethereum blockchain. With its focus on throughput improvements, user experience enhancements, community governance, and customizable blockchain networks, Polygon aims to create a more efficient and user-friendly ecosystem. By incorporating various scalability technologies and promoting blockchain interoperability, Polygon aims to position itself as a prominent player in the blockchain industry and drive the adoption of decentralized applications and services.

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Binance POR: Ethereum holdings declined while Bitcoin and USDT … – Investing.com

Crypto.news - In Binances 10th proof-of-Reserves (POR), Ethereum (ETH) holdings decreased, while Bitcoin (BTC) and Tether (USDT) remained stable or slightly increased.

Binance published its 10th POR amid liquidity concerns, offering the public a look into the state of customer assets and holdings.

The disclosure reveals mixed trends: Bitcoin and Tether deposits have stayed steady or slightly grown, but Ethereum holdings have dropped by 4.3%.

Key figures from Binances reserves showed that Bitcoin deposits stood at around 588,000 BTC while there was approximately 3.89 million ETH, down 4.3%. Meanwhile, the exchange held $15.44 billion of USDT, up 1%.

The latest POR revealed that Binance held 4.71 million ETH and 276,215 BTC in cold storage.

These figures complement the user deposits, which stood at 1.18 million ETH and 311,821 BTC on the BNB Chain.

Meanwhile, Binance held $13.6 billion of USDT, juxtaposed with users $1.86 billion on BNB Chain.

While Bitcoin deposits remained relatively stable, there was a 4.3% decrease in Ethereum assets and a 1% increase in USDT holdings. This suggests changing user sentiment, possibly influenced by market conditions or perceptions of asset stability.

For the past month, there have been growing concerns about Binances market position.

Sudden exits of several high-profile executives, regulatory pressure, the discontinuation of BUSD, and partnership termination from VISA and Mastercard (NYSE:MA), caused jitters.

Binances POR not only ensures its financial strength but also provides insights into asset allocation trends among its large user base.

This release highlights Binances dedication to asset security and transparency, serving as a means to confirm that it has enough reserves to safeguard customer holdings, enhancing its credibility in a competitive and frequently unstable market.

This article was originally published on Crypto.news

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Promising quantum state found during error correction research – Phys.org

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Window glass, at the microscopic level, shows a strange mix of properties. Like a liquid, its atoms are disordered, but like a solid, its atom are rigid, so a force applied to one atom causes all of them to move.

It's an analogy physicists use to describe a quantum state called a "quantum spin-glass," in which quantum mechanical bits (qubits) in a quantum computer demonstrate both disorder (taking on seemingly random values) and rigidity (when one qubit flips, so do all the others). A team of Cornell researchers unexpectedly discovered the presence of this quantum state while conducting a research project designed to learn more about quantum algorithms and, relatedly, new strategies for error correction in quantum computing.

"Measuring the position of a quantum particle changes its momentum and vice versa. Similarly, for qubits there are quantities which change one another when they are measured. We find that certain random sequences of these incompatible measurements lead to the formation of a quantum spin-glass," said Erich Mueller, professor of physics in the College of Arts and Sciences (A&S). "One implication of our work is that some types of information are automatically protected in quantum algorithms which share the features of our model."

"Subsystem Symmetry, Spin-glass Order, and Criticality From Random Measurements in a Two-dimensional Bacon-Shor Circuit" published on July 31 in Physical Review B. The lead author is Vaibhav Sharma, a doctoral student in physics.

Assistant professor of physics Chao-Ming Jian (A&S) is a co-author along with Mueller. All three conduct their research at Cornell's Laboratory of Atomic and Solid State Physics (LASSP).

"We are trying to understand generic features of quantum algorithmsfeatures which transcend any particular algorithm," Sharma said. "Our strategy for revealing these universal features was to study random algorithms. We discovered that certain classes of algorithms lead to hidden 'spin-glass' order. We are now searching for other forms of hidden order and think that this will lead us to a new taxonomy of quantum states."

Random algorithms are those that incorporate a degree of randomness as part of the algorithme.g., random numbers to decide what to do next.

Mueller's proposal for the 2021 New Frontier Grant "Autonomous Quantum Subsystem Error Correction" aimed to simplify quantum computer architectures by developing a new strategy to correct for quantum processor errors caused by environmental noisethat is, any factor, such as cosmic rays or magnetic fields, that would interfere with a quantum computer's qubits, corrupting information.

The bits of classical computer systems are protected by error-correcting codes, Mueller said; information is replicated so that if one bit "flips," you can detect it and fix the error. "For quantum computing to be workable now and in the future, we need to come up with ways to protect qubits in the same way."

"The key to error correction is redundancy," Mueller said. "If I send three copies of a bit, you can tell if there is an error by comparing the bits with one another. We borrow language from cryptography for talking about such strategies and refer to the repeated set of bits as a 'codeword.'"

When they made their discovery about spin-glass order, Mueller and his team were looking into a generalization, where multiple codewords are used to represent the same information. For example, in a subsystem code, the bit "1" might be stored in 4 different ways: 111; 100; 101; and 001.

"The extra freedom that one has in quantum subsystem codes simplifies the process of detecting and correcting errors," Mueller said.

The researchers emphasized that they weren't simply trying to generate a better error protection scheme when they began this research. Rather, they were studying random algorithms to learn general properties of all such algorithms.

"Interestingly, we found nontrivial structure," Mueller said. "The most dramatic was the existence of this spin-glass order, which points toward there being some extra hidden information floating around, which should be useable in some way for computing, though we don't know how yet."

More information: Vaibhav Sharma et al, Subsystem symmetry, spin-glass order, and criticality from random measurements in a two-dimensional Bacon-Shor circuit, Physical Review B (2023). DOI: 10.1103/PhysRevB.108.024205

Journal information: Physical Review B

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Boston quantum computing startup Zapata looks to go public – The Boston Globe

Zapata Computing sits at the intersection of two hot trends in tech this year: quantum computing and generative AI.

Now the Boston startup is looking to capitalize on the hype by going public in a merger with Andretti Acquisition, a special purpose acquisition company, or SPAC. The deal, announced on Wednesday, values Zapata at $200 million. It is expected to close in the first quarter of 2024, with Zapata listed on the New York Stock Exchange and trading under the ticker symbol ZPTA.

The six-year-old company spun out of research at Harvard University and has focused on writing software for future quantum computers and simulating how such apps might run using conventional computers. Zapata is part of a growing cluster of quantum computing-focused startups and labs in the area. (The companys name is inspired by the Mexican revolutionary leader Emiliano Zapata.)

While fully functional quantum computers are still years away, Zapata has seen growing interest from industrial, pharmaceutical, and other companies looking at using its quantum simulation programs to tackle tough computing tasks, including training and running models for generative AI apps more efficiently than traditional software.

We create algorithms that leverage the math behind quantum physics to do some really cool stuff, chief executive Christopher Savoie said in an interview.

Zapata did not disclose its recent financial results with the announcement of the SPAC deal. That will come in a subsequent filing with the Securities and Exchange Commission, the company said.

Becoming publicly traded will allow Zapata to gain access to additional funding opportunities in the future, Savoie said. Its also helpful when seeking business from government agencies and public corporations.

With that kind of clientele, being a public company checks a lot of boxes, he said. Because your finances are public and theres a lot of scrutiny already done on you.

Zapata employs 60 people, with about one-quarter working in the Boston area.

The Andretti SPAC could contribute up to $84 million in cash to fuel Zapatas growth, although the SPACs investors have the right to withdraw their money before the deal closes. The blank-check company went public in 2022 with championship race car driver Michael Andretti as co-chief executive and his father, racing superstar Mario Andretti, as a special advisor.

SPACs have had a poor track record over the past few years. Wireless internet company Starry and digital therapeutics developer Pear Therapeutics in Boston are among the companies that went public via SPACs and declared bankruptcy this year. Still, Maryland quantum computer startup IonQ went public by merging with a SPAC in 2021 and has seen its stock price almost double since.

Zapatas deal with Andretti is different from a typical SPAC transaction, Savoie maintained. The Andretti Autosport racing team has been using Zapatas software for analyzing race data and developing strategies. And Zapata employees sit in the teams command center during races to help run the software.

We already knew Michael, we already knew the team, Savoie said. This isnt an idea of Theres some random stock, lets go match up with them and do this.

Aaron Pressman can be reached at aaron.pressman@globe.com. Follow him @ampressman.

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Quantum Computing in Healthcare: A Billion-Dollar Revolution by … – GlobeNewswire

Dublin, Sept. 07, 2023 (GLOBE NEWSWIRE) -- The "Global Quantum Computing in Healthcare Market Size, Share & Industry Trends Analysis Report By Deployment, By Component (Hardware, Software, and Services), By Technology, By Application, By End User, By Regional Outlook and Forecast, 2023 - 2030" report has been added to ResearchAndMarkets.com's offering.

The global Quantum Computing in Healthcare market is on a trajectory for substantial growth, with a projected market size of $1 billion by 2030. The market is expected to experience a remarkable Compound Annual Growth Rate (CAGR) of 45.4% during the forecast period.

Radiotherapy Segment to Drive Significant Revenue

In 2022, the Radiotherapy segment emerged as a major revenue contributor in the Quantum Computing in Healthcare market, generating $5,335.2 million. Radiotherapy involves the use of radiation to eliminate malignant cells or halt their proliferation, frequently used in cancer treatment. Developing a radiation plan that minimizes harm to healthy tissues and body parts is crucial. This process entails complex optimization challenges with numerous variables. Quantum computing can assist in simulating a wide range of possibilities between each iteration, enabling healthcare professionals to concurrently run multiple simulations and formulate an optimal radiation strategy.

Partnerships Driving Market Development

Key market participants are embracing partnerships as a strategic approach to meet evolving end-user demands:

Market Competition Analysis

Google LLC leads the market, notably partnering with Bayer AG for drug discovery. Additionally, companies such as Accenture PLC, IBM Corporation, and Protiviti Inc. are playing crucial roles in driving innovation in the Quantum Computing in Healthcare market.

Factors Driving Market Growth

Two key factors are propelling the growth of the Quantum Computing in Healthcare market:

Factors Restraining Market Growth

Several challenges hinder the quantum computing healthcare market's growth:

Market Segmentation

The Quantum Computing in Healthcare market is segmented based on components, technology, applications, end-users, and deployment:

Component:

Technology:

Application:

End-user:

Deployment:

Regional Outlook

As of 2022, North America leads the Quantum Computing in Healthcare market, with strong investments and collaborations driving quantum computing advancements. The development of quantum computing is particularly significant in the pharmaceutical and biopharmaceutical sectors.

Key Players

Key market players, including IBM Corporation, RIGETTI COMPUTING, INC., ID Quantique SA, D-Wave Systems Inc., Google LLC (Alphabet Inc.), Protiviti Inc. (ROBERT HALF INTERNATIONAL INC.), Deloitte Touche Tohmatsu Limited, Accenture PLC, and Atos Group, are actively contributing to the growth and innovation of the Quantum Computing in Healthcare market.

For more information about this report visit https://www.researchandmarkets.com/r/xrt3tc

About ResearchAndMarkets.comResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.

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Ethereum and Altcoins Poised for Bull Run: Michal van de Poppe – Crypto News Flash

Popular cryptocurrency analyst Michal van de Poppe is of the opinion that Ethereum (ETH) and many other altcoins are about to enter a bull run.

The widely-followed crypto trader took to X (formerly Twitter) to inform his followers that he has been spending some time analyzing Bitcoin dominance (BTC.D) charts which usually give an insight into how much of the global crypto market capitalization is attributed to Bitcoin.

Based on Poppes analysis, the BTC.D chart is likely going to repeat its late 2019 to mid-2020 market structure when it respected the 200-week Exponential Moving Average (EMA) as resistance. Beyond the crypto traders speculation, a bearish BTC.D chart is often perceived as a positive sign for altcoins.

This is because it suggests that the prices of altcoins may rise faster than that of the leading cryptocurrency by market cap, BTC.

According to Michal van de Poppe, the overall sentiment is that despite the odds, the markets might continue to fall. Now, Bitcoins dominance is down since the test of the 200-week EMA, which is also in line with the previous cycles. Seeing that the Bitcoin halving event is about 8 to 10 months away, it is expected that altcoin prices will surge instead of a bear market. The crypto analyst added.

And yes, of course, if Bitcoin falls another 10% in September, the US dollar values of altcoins will start to fall too. But did we see that happen in the previous corrections? Not entirely. Weve seen a case where the BTC pairs of altcoins are bouncing up. Thats a slight sign of strength. If that continues to happen, were on the edge of having breakouts on altcoins across the board.

Furthermore, Michal mentioned that he is bullish on ETH against BTC. He says there is a high chance that the low on Ethereum against Bitcoin as well has already happened. He believes that the present situation is the case of the low 252 days prior to the halving of Bitcoin. The coming of approval for ETH futures Exchange Traded Fund (ETF) from the United States Securities and Exchange Commission (SEC) which is expected in the next month is also seen as an important trigger.

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The crypto analyst concluded by stating that the bull market always starts when nobody expects it and, this might be the period this will happen.

His speculations are yet to be confirmed but certain green movements have been observed amongst altcoins today. Pepe Coin (PEPE) which was previously drowning alongside Litecoin (LTC), is now exhibiting bull signals and has surged by almost 1% in the past 24 hours, trading at a market value of $0.0000007945. Coinbase-linked Astar Network (ASTR) is equally doing well with a price jump of almost 6% in the last 24 hours and at the time of this writing, ASTR was trading at $0.05517.

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Crypto News Flash does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. Readers should do their own research before taking any actions related to cryptocurrencies. Crypto News Flash is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned.

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Executive interview: Richard Moulds, AWS Braket – ComputerWeekly.com

During the AWS annual Re:Invent conference in 2019, the public cloud provider announced Braket, a service and hardware initiative for quantum computing.

The service was introduced in 2020 with support for three machines: a superconducting gate-based machine from Rigetti; a trapped-ion machine and a quantum annealing device from D-Wave. The latest update is claimed to offer a 10x improvement in the performance of hybrid workloads.

Discussing how the companys quantum computing strategy began, Richard Moulds, general manager at AWS Braket, says: We launched a hardware effort, which is actually co-located at the Caltech campus in California to provide a superconducting quantum computer. This, he adds, was accessed via Braket services.

The companys quantum computing strategy is focused on being hardware agnostic, offering its customer access to quantum computing technology through Braket. Since quantum computing technology is evolving, no one knows for certain which quantum technology will emerge as the winner.

Organisations wishing to use quantum computing need to understand the difference between the various architectural approaches, weigh up the pros and cons, and learn how to take advantage of each type of quantum computer when developing use cases.

By 2020, Moulds says AWS had three quantum computing devices available: Our goal was to make a wide variety of machines available to customers so they could see what was real, so they could see what claims made sense and could get a sense of the trajectory in terms of how quickly these machines are evolving. This, he says, helps customers pan and enables them to understand if quantum computing is going to be in their business.

Moulds points out that there is no one perfect architecture for a quantum computer. Businesses need to understand the different technical approaches each architecture offers, so customers want to experiment across different devices. Nobody wants to be locked into a single technology these days. Its just way too early, he adds.

The thing that customers can do right now is experiment with todays quantum hardware. Theres lots of different ways you can build a quantum computer. You know you can use ions, electrons or photons. But they all have really different trade-offs in terms of quality, the error rates, speed of operation, the number of qubits, the type of gates they can deliver and the connectivity between those gates. All vary enormously.

Among the areas of quantum computing AWS has tried to address is to make it easier for customers to access a quantum computing machine to see how they are operated. According to Moulds, the companies developing quantum computing may often only have a few machines that are operational: These things are in labs and oftentimes you only have private access and you need to know the scientists involved.

Its not like they have racks of servers. These are early stage devices. In some cases you might even describe them as prototype machines. So, they need some care and feeding and might require calibrating every day. The technology is not mature enough right now, unfortunately, to build quantum computers in an Amazon datacentre.

Nobody wants to be locked into a single technology these days. Its just way too early

Richard Moulds, AWS Braket

What this means is that the programs that customers want to run need to run on quantum machines that are not inside the AWS physical boundary. Mould says: We have to do a lot of work in terms of securing that connection and we work very closely with the quantum computing hardware providers to make sure that their security infrastructure is appropriate for running our customers data.

This also means that applications on AWS that want to make use of quantum computing resources through Braket require optimisation to reduce the network communications to the target quantum computing site.

Theres always a real important interplay between classical computers and quantum computers they work hand in hand. So, whatever you can do to make that connection efficient, will ultimately speed up the application, says Moulds.

Along with access to the hardware, Moulds says that another problem in quantum computing is that the industry is fragmented. Each machine basically has its own developer environment, its own developer toolkits. We want to get away from that and try to make it possible for customers to design quantum algorithms then run those algorithms on as many different types of [quantum computing] machine as possible.

According to Moulds, today a quantum computer cannot outperform a classical machine. He says: People have come up with some synthetic problems and synthetic examples, which generally is referred to as quantum supremacy, but these are not useful problems. No one is using these devices for running production workloads right now. No ones saving money.

He says many businesses want to find out if there are any useful problems that can be solved by quantum computing faster or cheaper than a classical machine.

There is, however, a lot of work being done in research, where scientists try to understand how they build a better machine and investigate how to identify better algorithms for quantum computing.

Moulds says people are looking how to use classical computing techniques combined with machine learning to make quantum algorithms run better, adding:Today, its all about experimentation.

Moulds says scientists are also looking at the potential to use quantum computing for molecular simulation. He believes this may be the first quantum computing use case that has the potential to succeed. It sort of makes sense, he says. When you think about it, youre using a quantum machine to basically simulate a quantum system.

A chemical reaction involves atoms and molecules interacting at the quantum level electrons and protons. The quantum computer effectively runs a digital twin of the experiment. The results from the real-world, wet lab experiment are then used to adjust parameters in the digital twin, until it produces the same results as the real chemical reaction.

But, as Moulds points out, digital twins that run on a classical computer are unable to model chemical reactions accurately: You cant model this stuff perfectly using a classical machine. Its just too complicated.

Petrochemicals, drugs and plastics are based on huge molecules, which simply cannot be modelled. With classical computing, he says that there are lots of compromises and lots of simplifications. A quantum computer offers scientists a potential way to run the digital twin without simplification and compromises.

From the conversation with Moulds, it seems that quantum computing devices are a long way off. Certainly, it will take some time before the technology has matured to a point where they can be deployed in the same way as datacentres infrastructure in public clouds. Nevertheless, this should not stop organisations from experimenting with the different types of quantum computing architecture to investigate potential use cases.

However, the fact that it is still early days for quantum computing means that applications that target quantum computers can be verified using classic computing architectures. In the future, as and when quantum supremacy is achieved, it will no longer be possible to run these simulations to verify the results.

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‘We want to bring in the next computing revolution’: Q-CTRL named … – Startup Daily

Quantum computing software startup Q-CTRL took home the 2023 Startup Daily Best in Tech Awards Most Innovative Startup award, sponsored by Dell for Startups. Heres why they stood out in one of the events most competitive categories.

Q-CTRL has pioneered the quantum infrastructure software segment, and become the leading software company in the quantum sector.

Its that innovation that impressed the judges at our inaugural Startup Daily Best in Tech Awards, which were held at The Establishment Ballroom in Sydney on September 6.

The software, developed by Sydney University Professor Michael J Biercuk and his team, is designed to improve the utility and performance of quantum hardware by tackling error-correction and suppression in calculations. That application has accelerated the pathway to the first useful quantum computers and quantum sensors in sectors such as sectors like finance, pharma, materials science and logistics, as well as defence.

Q-CTRL has also developed Black Opal, an edtech platform that enables users to quickly learn quantum computing.

Founded in 2017, Q-CTRL was Australias first venture-backed quantum tech startup.

Its posted an impressive run of achievements and traction over the last 18 months, raising more than $42 million in funding, including from Salesforce Ventures. Former Wallabies captain John Eales is also an investor.

The company also landed a deal to deliver quantum sensing navigational technologyfor Australian Defence and AUKUS partners. Both Q-CRTLs quantum sensing and quantum computing divisions signed multiple multi-million-dollar contracts with the public sector this year.

It also forged a partnership with hardware manufacturer Oxford Quantum Circuits and opened four new offices including its Sydney headquarters and others in the UK, Los Angeles and Berlin, with the team growing by 40 per cent of the past year to more than 100 people.

Founder and CEO Michael J Biercuk confessed to Startup Daily on the awards night that he hadnt taken a holiday in 11 years and wished there were more hours in the day to achieve their goals.

We want nothing less than to bring in the next computing revolution, he said.

If you look back, 30, 50, 70 years at how much the world has changed because of computing.

We want to do the same thing with this totally new quantum technology. We want to make all of it work, and do it from our headquarters here in Sydney.

Award presenter Will Hasko from Dell Technologies with Most Innovative Startup award winner Michael J Biercuk from Q-CTRL. Image: Cec Busby

Prof Biercuk said he was grateful for the recognition from Startup Daily and the judges for Most Innovative Startup.

As a young tech startup, everyone at Q-CTRL is working really hard to deliver huge commercial and strategic advantages for Australia and its allies, he said.

Weve assembled the best team in the world, drawing on Australias exceptional history as a research powerhouse in quantum computing. Its thrilling that weve been able to build a business around our globally unique technology which is recognised not just in quantum technology circles, but across the broader tech ecosystem.

Q-CTRL became an inaugural member of the IBM Quantum Network startup program since 2018, and its performance management software now runs natively on IBM quantum computers.

Prof Biercuk said there are more very exciting things coming a little bit later in the year but for now hes going tokeep quiet for the moment.

The Most Innovative Startup award recognises a startup that is changing the world for the better with their bold ideas. The other finalists in Q-CTRLs category were:

See the full list of 2023 Startup Daily Awards winners here.

This article is brought to you by Startup Daily, with the support of Dell Technologies.

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The quantum computing in drug discovery services market is anticipated to grow at 14% CAGR by 2035, accor – Benzinga

September 6, 2023 10:20 AM | 4 min read

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Stakeholders in the biopharmaceutical industry are currently exploring the implementation of quantum computing in order to expedite the drug discovery process and cut down the overall R&D capital investment

LONDON , Sept. 6, 2023 /PRNewswire/ --Roots Analysishas announced the addition of "Quantum Computing Marketin Drug Discovery, 2023-2035" report to its list of offerings.

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Owing to the various benefits of quantum computing, such as big data processing and complex molecular modeling for minimizing cost and time investment, the adoption rate of quantum computing in pharmaceutical industry is expected to increase rapidly during the forecast period. Additionally, various partnerships have been inked for application of quantum computing in drug discovery. Majority of these partnerships are research and development agreements, followed by platform utilization agreements. Drug developers require support from both quantum computing software and hardware developers. In July 2021, Riverlane and Astex Pharmaceuticals announced their collaboration with Rigetti Computing to utilize their quantum systems along with Riverlane's algorithm expertise to develop molecular models of chemical compounds and study their interaction with proteins in the human body.

To order this 170+ slide report, which features 30+ figures and 75+ tables, please visit our Quantum Computing Market Report

Key Market Insights

For additional details, please visit

https://www.rootsanalysis.com/reports/quantum-computing-in-drug-discovery.html

The financial opportunity within the quantum computing in drug discovery services market has been analysed across the following segments:

The research also includes detailed profiles of the key players (listed below) engaged in the quantum computing in drug discovery services market; each profile features an overview of the company, its financial information (if available), details related to its service portfolio, and recent developments and an informed future outlook.

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Key Questions Answered

Table of Contents

For additional details, please visit https://www.rootsanalysis.com/reports/quantum-computing-in-drug-discovery.html or email sales@rootsanalysis.com

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Contact:Gaurav Chaudhary +1 (415) 800 3415+44 (122) 391 1091gaurav.chaudhary@rootsanalysis.com

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The quantum computing in drug discovery services market is anticipated to grow at 14% CAGR by 2035, accor - Benzinga

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