30s Summary

Microsoft and Atom Computing have collaborated to create a quantum computing system with 24 entangled logical qubits made from just 80 physical qubits, representing a breakthrough in quantum computing. Previously, it was believed thousands of physical qubits were needed to create one logical qubit. This advancement could have massive implications for data security, potentially better equipping computers to crack encryption methods such as SHA-256, used in blockchain networks like Bitcoin’s. With continuing development, it’s predicted that a 1,000-qubit quantum computer could be on the market by 2025, potentially revolutionizing blockchain mining.

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Hey, folks! Microsoft and a tech company in California called Atom Computing just announced a huge step forward in quantum computing. This could drastically change how we mine in the blockchain world!

Scientists and engineers from both teams created a quantum computing system consisting of 24 entangled logical qubits – sort of like the building blocks of quantum computers – produced by just 80 physical qubits. This sets a new record in the highest number of these logical qubits made using error correction techniques.

Before this, people thought it would take thousands of physical qubits working together to create just one logical qubit. But these guys managed to do it with only 80, which could change the game in terms of how big these systems get and how fast companies like Microsoft and Atom Computing can grow them.

Experts have been saying for a while that quantum computers could someday have an edge or a speedup when it comes to cracking certain data security measures. Some of these measures, like SHA-256 encryption, are puzzles that miners in certain blockchain networks, like Bitcoin’s, have to solve to prove their work.

The best of the best in blockchain miners, like those used by the world’s largest Bitcoin mining facilities, have to find a solution to these puzzles, but it’s becoming increasingly difficult. Which brings us to Grover’s Algorithm. This is a theoretical method that could make classical blockchain mining a thing of the past.

Grover’s Algorithm, which could be faster than traditional methods, has been tested on a small scale. But using it for larger issues (like cracking SHA-256) is still theoretical, as the quantum hardware it needs to run properly doesn’t exist yet. But when it exists, the advantages of quantum mechanics could make the process even faster.

Now, when it comes to quantum speed, at around 3,000 logical qubits, quantum mining rigs based on the system by Microsoft and Atom Computing could potentially overtake traditional mining. When this will actually happen is anyone’s guess. Some folks think it’ll be between 10 and 50 years for error-corrected quantum computing to move beyond its current boundaries.

But recent research from Microsoft and Atom Computing could speed things up significantly. They even plan to bring a 1,000-qubit quantum computer to the market in 2025. So, keep your eyes peeled because the future of blockchain and quantum computing is closer than we think!