quantum computing

Google’s quantum breakthrough: Assessing the impact of Willow on cryptocurrency security

Google’s latest quantum chip, Willow, has stirred discussions in the cryptocurrency world. Capable of completing a computation in minutes that would take supercomputers billions of years, Willow raised concerns over its potential to breach Bitcoin’s encryption, which secures the $2 trillion blockchain. Bitcoin’s price briefly dipped after the announcement but quickly recovered.

While the crypto community acknowledges the theoretical risks of quantum computing, panic remains subdued. Developers, including Ethereum’s founder Vitalik Buterin, suggest that blockchains can be updated to resist quantum threats, just as Bitcoin was improved with the Taproot upgrade in 2021.

For now, the threat seems distant. Willow’s achievement, though impressive, lacks immediate commercial applications. Experts agree the crypto industry has time to adapt before quantum computing poses a genuine risk.

Alphabet shares surge with new quantum chip launch

Alphabet’s stock jumped 5% on Tuesday after the company unveiled Willow, a groundbreaking chip that addresses a major hurdle in quantum computing. Introduced on Monday, Willow solved a problem in five minutes that would take classical computers longer than the age of the universe. This breakthrough brings quantum computing closer to practical applications in science, medicine, and finance.

Quantum computers, powered by qubits, promise incredible speed but face challenges with error rates that grow with scale. Google’s Willow chip reduces errors exponentially by stringing qubits together in a way that allows for real-time error correction. This innovation marks a significant step toward making quantum computing reliable and commercially viable.

While the technology is still in its infancy, experts believe Willow could drive breakthroughs across industries. Alphabet’s shares, up 25% this year, outpaced market expectations, with investors optimistic about the potential impact of quantum computing on the company’s future. Other tech leaders like Microsoft and Quantinuum are also advancing in the race to commercialise quantum systems.

Google’s quantum computing leap forward with Willow

In the quantum computing world, Google’s Quantum AI lab is at the forefront, pioneering a new era where the rules of quantum mechanics dictate the dance of data. Unlike the binary world of classical computing, which is all about ones and zeros, quantum computing introduces qubits. These aren’t just your average bits; they can exist in multiple states simultaneously, thanks to the whims of superposition and entanglement, making them the rock stars of the computational universe.

Enter Willow, Google’s latest quantum chip, which could be described as a virtuoso in the orchestra of quantum technology. Willow isn’t just another chip; it’s a leap towards solving some of humanity’s most complex puzzles. This chip has mastered the art of error correction, a challenge that’s been the quantum computing community’s white whale for nearly three decades. With Willow, errors don’t just decrease; they do so exponentially as more qubits join the ensemble.

But Willow’s talents don’t stop at error correction. In a performance that would make even the universe blink in disbelief, Willow completed a computation in under five minutes that would take the world’s fastest supercomputers a mind-boggling ten septillion years. To put that into perspective, that’s longer than the age of our universe, suggesting that Willow might be tapping into some multiversal jazz.

The magic of Willow is crafted in Google’s specialised quantum lab in Santa Barbara, where every component from qubit gates to the chip’s architecture is meticulously tuned for harmony. Willow boasts 105 qubits, each a note in this symphony of computation, offering both numbers and quality. Focusing on quality over quantity ensures that Willow isn’t just another player but a lead in the orchestra.

Willow’s performance sets the stage for the next act: to conduct a computation beyond the reach of classical computers and relevant to real-world applications. Whether it’s accelerating drug discovery, enhancing AI, or solving energy crises, Willow and its successors are poised to turn theoretical quantum wonders into practical symphonies.

The journey with Willow is just beginning, and Google invited the curious minds of researchers, engineers, and developers to join this quantum odyssey. With open-source software and educational platforms like Coursera, Google aims to democratise quantum computing, hoping to inspire the next generation to compose their quantum symphonies, solving problems that today’s classical computers can only dream of.

Microsoft and Atom Computing announce quantum breakthrough

Microsoft and Atom Computing have announced a significant breakthrough in quantum computing that could revolutionise blockchain mining. The two companies developed a quantum system with 24 entangled logical qubits using just 80 physical qubits, setting a new record in quantum efficiency. This achievement could eventually lead to a transformation in the world of proof-of-work (PoW) blockchain mining, as quantum systems become capable of outperforming traditional mining methods.

The advancement is especially notable for its potential to impact the security of blockchain networks like Bitcoin, which rely on SHA-256 encryption. Quantum computers, by applying Grover’s Algorithm, could significantly speed up the process of solving the PoW puzzle, threatening the security measures that have safeguarded blockchain technology. While Grover’s Algorithm has shown promise in small-scale experiments, it has yet to be proven on the large scale required for cracking SHA-256 encryption.

Though the timeline for practical quantum mining remains uncertain, with experts predicting it could take 10 to 50 years, Atom Computing and Microsoft aim to bring a 1,000-qubit quantum computer to market as early as 2025. This breakthrough could drastically shorten the path to quantum systems capable of rivaling traditional mining rigs.

AWS and Telefonica Germany test quantum tech in mobile networks

Telefonica Germany has partnered with Amazon Web Services (AWS) to explore quantum technologies in its mobile network. The pilot project aims to optimise mobile tower placement, enhance security with quantum encryption, and provide insights for the development of 6G networks.

Quantum computing, known for its potential to outperform traditional systems, is expected to revolutionise industries, including telecommunications. Experts stress the importance of early engagement with prototypes to prepare for the arrival of powerful quantum systems. Telefonica’s Chief Technology & Information Officer, Mallik Rao, highlighted their proactive approach in integrating these emerging technologies.

Telefonica Germany has already made strides in modernising its network, recently migrating one million 5G customers to AWS cloud infrastructure. Plans are underway to transfer millions more over the next year and a half. Rao described the transition as smooth and beneficial for performance.

AWS and Telefonica’s collaboration underlines the growing interest among tech leaders in harnessing quantum mechanics for groundbreaking advancements in speed and security.

Record investment in quantum computing driven by AI growth

Funding for quantum computing has reached unprecedented levels, with startups in the sector securing around $1.5 billion in venture capital through 50 deals in 2024. This amount nearly doubles last year’s $785 million and surpasses the previous record set in 2022. The rise in funding may partly stem from the momentum of AI, which shares significant synergies with quantum technology.

Several high-profile investments have marked 2024. Colorado’s Quantinuum raised $300 million in January, valuing the company at $5 billion. In May, PsiQuantum in California secured a $620 million investment from the Australian government to develop a quantum computer near Brisbane. The United Kingdom’s Riverlane, focused on error correction in quantum systems, raised $75 million in Series C funding in August, adding to the sector’s record-breaking total.

The need for faster, more efficient computing has driven the growth of quantum technology, especially as AI models require immense computing power and energy. Quantum computing, able to perform complex calculations rapidly, is seen as a potential solution to these challenges. Its advantage lies in both speed and energy efficiency, potentially reducing energy needs by as much as 100 times compared to traditional supercomputers.

While AI isn’t the sole reason for quantum’s growing popularity, the two fields are becoming increasingly interconnected. Quantum computing’s applications range from life sciences to navigation, but its potential to enhance AI processing power and reduce energy consumption adds compelling value. As tech giants expand data centres to support AI, quantum technology may see continued interest and investment.

SDT and SemiQon partner to advance quantum computing

Korean SDT and Finland’s SemiQon have signed a Memorandum of Understanding (MOU) to establish a strategic partnership to advance quantum computing. That collaboration allows SDT to incorporate SemiQon’s silicon-based quantum processors (QPUs) into its quantum precision measurement equipment, enhancing scalability and stability in the quantum computing field.

SemiQon has developed QPUs that are compatible with existing infrastructure, which reduces production costs and facilitates mass production. Through this partnership, SDT expands its manufacturing capabilities into quantum technology, with both companies aiming to strengthen the global quantum computing market.

Both companies’ leaders expressed excitement about the potential impact of this collaboration, which is expected to fast-track the development of scalable and cost-effective quantum computers. The combination of SDT’s quantum precision technology and SemiQon’s silicon-based QPUs is a critical step toward realising general-purpose quantum computers operating at the million-qubit scale. The MOU is viewed as a foundation for the global commercialisation of quantum computing, with both SDT and SemiQon working together to enhance the industry’s stability and scalability.

Quantum computers may breach banking and crypto encryption, warn scientists

Chinese researchers from Shanghai University have claimed a significant breakthrough in quantum computing, asserting that they breached encryption algorithms commonly used in banking and cryptocurrency. Led by Wang Chao, the team employed a quantum computer from Canada’s D-Wave Systems to exploit vulnerabilities in the Present, Gift-64, and Rectangle algorithms, which form the backbone of the Substitution-Permutation Network (SPN) structure underpinning advanced encryption standards (AES) widely used for securing cryptocurrency wallets.

While AES-256 is regarded as one of the most secure encryption standards, the researchers warn that the advent of quantum computers could pose a serious threat to traditional password protection. Their technique, based on quantum annealing, operates similarly to artificial intelligence algorithms, allowing for more efficient searches by circumventing obstacles that traditional methods struggle to overcome.

Despite these advancements, the researchers noted that practical limitations remain, such as environmental factors and hardware constraints that prevent a full-scale quantum attack at this time. However, they emphasised that future developments could uncover new vulnerabilities in current cryptographic systems.

Ethereum co-founder Vitalik Buterin has proposed a potential solution to mitigate the risk posed by quantum computing, suggesting a hard fork of the Ethereum blockchain to implement new wallet software and enhance security. He indicated that the necessary infrastructure for such a move could be developed promptly, providing a proactive approach to safeguarding user funds.

Israeli quantum tech startup secures $50 million in funding

Israel-based startup Quantum Source has secured $50 million in funding to advance the development of quantum computers that utilise light-based technology. That approach, which generates photons for data processing, promises to be more efficient than traditional methods. By allowing quantum systems to operate at room temperature, Quantum Source’s technology eliminates the need for bulky, costly cooling systems, making it easier to deploy in standard data centres.

CEO Oded Melamed explained that their method offers significantly greater efficiency, potentially making quantum computers smaller and more practical for widespread use. The company plans to use the new funding to build a complete quantum system capable of generating millions of qubits, the essential units of quantum computing.

The funding round was led by California-based Eclipse and included investments from Standard Investments, Level VC, and Canon Equity. Since its founding in 2021, Quantum Source has raised $77 million and currently employs 45 people in its Tel Aviv suburb office.

US introduces new export controls on advanced tech

The United States has announced new export controls targeting advanced technologies, including quantum computing and GAAFET chip technology, aligning with similar measures by international partners. The updated regulations cover quantum computing equipment, advanced semiconductor production, and additive manufacturing technologies.

Commerce official Alan Estevez emphasised that these controls aim to keep pace with technological advancements and enhance their effectiveness through international cooperation. The most notable changes involve stringent reporting requirements for foreign national employees working on quantum computing in the US, while GAAFET controls will focus on production rather than design.

Trade lawyer Kevin Wolf highlighted that while these measures are intended to safeguard technological advancements, they might impact hiring in the quantum sector. Celia Merzbacher from the Quantum Economic Development Consortium expressed concern that these reporting requirements could deter small companies from hiring foreign talent, potentially limiting their access to skilled professionals crucial for innovation.