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A team of researchers from universities in Australia and the United States, working in collaboration with quantum technology company BTQ, recently published research proposing a novel proof-of-work (PoW) scheme for blockchain consensus that relies on quantum computing techniques to validate consensus.Our new paper on using NISQ-era quantum sampling problems in
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China Telecom has noted that the establishment of a quantum tech hub is in line with President Xi Jinping’s long-term tech adoption. China Telecom Corp Ltd (Hong Kong: 728), a Chinese telecommunications company, has announced plans to venture into the supercomputer quantum industry to streamline its services. According to the company’s
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The finance industry is optimistic about quantum computing. Tasks such as portfolio optimization, risk management and asset pricing have a great chance to be beneficiaries. Grover’s and Shor’s algorithms can be applied to portfolio optimization. Portfolio optimization involves finding the optimal combination of investments to maximize returns while minimizing
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Cloud computing — or “the cloud” — is an application-based software that distributes computing services throughout the internet, utilizing third-party servers, storage, databases, networking, software, analytics and intelligence to store and process data. Before cloud computing, businesses had to buy and maintain their own servers containing enough space to
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Akin to platform-as-a-service solutions, quantum cloud computing services work by connecting users directly to quantum processors, emulators and simulators. Physical quantum computers are very complex, making cloud-based access an ideal setup for those needing to harness the power of quantum computing without purchasing their own machine. According to IBM,
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Artist name: Justin AversanoLocation: Los AngelesDate minted first NFT: Feb. 15, 2021Which blockchains? Ethereum Bio: Unintentionally, the healing process of losing his twin sister at birth sparked Justin Aversano’s career to become the poster child for NFT photography. His most
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According to reports circulating on the web, 24 Chinese researchers have reportedly succeeded in breaking RSA encryption using a quantum computer. This would be a significant achievement, as RSA encryption is widely used in current security practices. However, a number of experts, computer scientists, and cryptographers do not believe the
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With the Ethereum Merge event now successfully completed, new proof-of-work (PoW) forks have emerged to vie for miner acceptance. This, as the United States government, has warned that the post-quantum world is getting closer, and vulnerable cryptography will need to be protected. Amidst red hot inflation in the U.S., President
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Quantum computing has raised concerns about the future of cryptocurrency and blockchain technology in recent years. For example, it is commonly assumed that very sophisticated quantum computers will one day be able to crack present-day encryption, making security a serious concern for users in the blockchain space.The SHA-256 cryptographic protocol
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Still, it would be naive to think Bitcoin is entirely invulnerable to outside threats. In fact, one in particular that gets too little attention now looms larger than ever: quantum technologies. And in this case, Bitcoin’s “hard to change” characteristic could prove to be a bug, not a feature. Source
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