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Quantum Computers: Why They Are Hard To Build And Worth The Effort – Swarajya

March 9, 2022 | Author: admin

This is Part 2 of the two-part article on quantum computing. Read Part 1 here.

Quantum Cryptography And Post-Quantum Cryptography

Present-day systems are protected by Rivest-Shamir-Adleman (RSA) encryption, which is based on the fact that it is practically impossible for classical computers to factorise large integers.

Peter Shor surprised the world with his polynomial-time quantum algorithm, which made it theoretically possible for a quantum computer to factorise large positive integers, thereby putting present-day encryption, and hence computer and communications systems, at risk.

A quantum computer powerful enough to run the algorithm to factor large integers may be several decades away, but the effort to build the next generation of encryption schemes resistant to a breach using quantum computers is already ongoing.

There are two approaches. The first one, called post-quantum cryptography, is based on constructing classical cryptographic algorithms that are hard for a quantum computer to break.

The other approach quantum cryptography is to use the properties of quantum mechanics itself to secure data.

Quantum cryptography is defined as using quantum mechanical properties for cryptography tasks, such as quantum key distribution (QKD).

Keys are large binary strings of numbers used to provide security to most cryptographic protocols, like encryption and authentication. Though classical key distribution algorithms like Diffie-Helman provide the secure exchange of keys between two parties, they will be vulnerable in the future to quantum computers.

The first QKD scheme was proposed by Bennet and Brassard in 1984. It is called the BB84 protocol and is based on Heisenberg's Uncertainty Principle. The basic idea for this protocol is that Alice can send a secret key to Bob encoded in the polarisation of a string of photons. If an eavesdropper tries to intercept and read it, the state of the photons will change, revealing the presence of the eavesdropper.

Why Are Quantum Computers Hard To Build?

Qubits, unlike classical bits, need to interact strongly among themselves to form entangled states, which in turn form the basis for computation in quantum computers. But to achieve this experimentally is incredibly hard.

We don't want qubits to interact with the environment because it causes decoherence. Decoherence is the phenomenon due to which quantum effects are visible in the microscopic world, but not in the macroscopic world. The main difference between classical information and quantum information is that we cant observe a quantum state without damaging it in some uncontrolled way. We may not look at quantum computers all the time; nature continuously interferes with them. That's why the information the quantum computer is processing needs to be almost isolated from the outside world.

Why We Believe Quantum Computers Can Be Built

Since Richard Feynman's talk 40 years ago, we have come a long way, but the quantum computers present today are not very useful yet.

We are presently in the NISQ era of quantum computers. NISQ stands for 'Noisy Intermediate-Scale Quantum'. 'Intermediate scale' means that the qubit count is greater than 50 and it cannot be simulated using the most powerful classical supercomputers. 'Noisy' means that these devices are not yet error-corrected.

Through the discovery of polynomial-time factorisation and discrete logarithm algorithms by Shor, the interest in quantum computing skyrocketed, but scepticism regarding quantum computing remained, captured in the saying that it is the computer scientists dream [but] the experimenters nightmare".

Again, it was Shor who showed the way. He discovered quantum error-correcting codes and fault-tolerant methods for executing quantum computations reliably on noisy hardware.

In classical error correction, we measure bits to find out errors, but measuring a qubit will destroy the state of the qubit. Shor found a way to detect errors in the qubit without measuring the state of the qubit itself.

The discovery of error-correcting codes showed that we will be able to scale up quantum computers to the degree that they can solve practical problems, but we will need a lot more qubits and a lower inherent error rate before any such correction is useful.

Industry, Governments Are Interested

The promise of quantum computing has propelled major industry players like IBM, Google, Microsoft, Amazon, Honeywell and Alibaba into pouring billions of dollars into quantum computing research.

Google plans to build a full-scale quantum computer by 2029, one that can be used for solving practical business problems. Companies like IBM have laid out technology development milestones to develop a scalable and fault-tolerant quantum computer.

Startups are not falling behind in investment. Several millions of dollars are invested into startups like Rigetti computing, IonQ, Xanadu and PsiQuantum to develop quantum computers.

Governments across the world are pumping billions of dollars into quantum computing research. In 2019, the United States National Science Foundation (NSF) and Department of Energy (DOE) committed to spending $1.2 billion over a period of five years to support quantum computing research.

Similarly, China has included quantum technology as one the high-technology investment areas in its 14th five-year plan. India too has announced a National Mission on Quantum Technologies & Applications (NM-QTA).

While investment of billions of dollars into quantum computing will not immediately result in a practically usable quantum computer, the future promise of the power that quantum computing may deliver has set in motion a flurry of investments into the field.

Quantum Technology In India, In Brief

The Indian government in its 2020 budget announced the Rs 8,000 crore ($ 1.2 billion) NM-QTA. The mission aims to focus on fundamental science and technology development, and to help prepare the next generation of workforce, encourage entrepreneurship, and address issues concerning national priorities.

In India, the Defence Research and Development Organisation (DRDO) and Indian Space Research Organisation (ISRO) have made strides on the quantum communication front.

Not long ago, DRDO demonstrated QKD between Prayagraj and Vindhyachal in Uttar Pradesh over a 100 km fibre optic link.

ISRO, on the other hand, demonstrated quantum entanglement-based real-time QKD over a 300 m atmospheric channel. This is a step towards the development of the planned satellite-based quantum communication (SBQC).

Efforts at building a quantum computer in India presently seem to be limited to academic efforts.

The Future

Noise severely limits the scale of computations in NISQ-era devices. We expect to overcome this issue in the long run using quantum error correction and fault-tolerant quantum computing (FQTC), but the number of qubits required to run these error-correcting schemes is very high and depends on the algorithms we are trying to run and the quality of the hardware.

Present-day quantum computers are not capable enough to replace supercomputers, given the fact that the scaling of the number of qubits remains a challenge.

In 2019, Google demonstrated quantum supremacy using its 53-qubit quantum computer. It means that a programmable quantum device can solve a problem that no classical computer can solve in any physical time. This may give the idea that quantum computers have become more powerful than classical computers, but the problem that was solved in the quantum computer is random in nature and doesnt have any practical significance in real life.

The path to fault-tolerant and error-corrected quantum computers will remain difficult due to the fragile nature of qubits, but the possibilities quantum computers offer makes the pursuit worthwhile.

This concludes the two-part article on quantum computing. Read Part 1 if you haven't already.

This article has been published as part of Swasti 22, the Swarajya Science and Technology Initiative 2022. We are inviting submissions towards the initiative.

QuantWare will build you a custom 25-qubit quantum processor in 30 days – TechCrunch

March 9, 2022 | Author: admin

Its still very early days for quantum computing, but even so, were already seeing early signs of hardware and an ecosystem thats starting to resemble the classical computing space, with different startups specializing in the different components that make up a quantum computer. Delft, Netherlands-based QuantWare basically wants to become the chip manufacturer for this ecosystem and today, the company announced that it can now offer researchers and other startups in the space a customer 25-qubit quantum processing unit (QPU). And in an industry with long lead times, QuantWare says it can deliver this new QPU, dubbed the Contralto, in 30 days.

The company launched its first processor last year. That was a five-qubit affair, with each qubit reaching 99.9% fidelity. That made for a nice proof of concept, and QuantWare co-founder and managing director Matthijs Rijlaarsdam noted that it has already been used to build full-stack quantum computers. The five-qubit QPU allows people who are not able to make qubits to for the first time build a quantum computer because they can now get qubits. The 25-qubit QPU allows anyone in the field to get to the state of the art of the best laboratories in the world, he explained and added that there are actually very few laboratories that are currently able to build a similar QPU (think ETH and Lincoln Labs).

Image Credits: QuantWare

The Netherlands is investing heavily in quantum startups and QuantWare, with its heritage as a spin-off of Delft University, has been able to attract a group of highly qualified researchers and engineers. Alessandro Bruno, another co-founder and the companys director of Engineering, previously spent more than 10 years working on different aspects of quantum computing, including at the DICarlo lab at Delft Universitys QuTech.

While Delft may not be the first place you think about when you think about quantum computing, its worth noting that it has become a hotbed for quantum innovation. In addition to a wide variety of startups that are, like QuantWare, often associated with the school, Microsoft set up a lab at the university in 2019, too, though we havent heard all that much about the companys own efforts to build qubits lately. Maybe its no surprise that QuantWare has also hired engineers away from Microsoft.

Because of this existing tech ecosystem, QuantWare can get access to state-of-the-art cleanroom facilities to produce its superconducting QPUs. But even more importantly, the company has been able to collaborate with a lot of other quantum startups, too. What also helps is this ecosystem of partners that we find ourselves in, Rijlaarsdam said. We are able to collaborate, for instance, with a control hardware maker that needs to test their control hardware. We can provide them with the chip that we need measured anyway.

For the new QPU, potential buyers can choose from a library of components and buyers can choose how the qubits are wired together based on their specific needs. Because every qubit features multiple lines to control and read their state, its this hardware control system that also limits the size of the chip. We chose to go with this particular layout because it shows what is basically the maximum you can do at this size, he said. Beyond this, those lines will become an issue. Youll run out of space at the edges. The team expects to shift to a different technology for its next-generation chip, though Rijlaarsdam wasnt quite ready to provide any details about that yet.

A quantum computer with a 25-qubit QPU cant quite keep up with what IBM, IonQ, Rigetti and others can currently offer, but it is also QuantWares first play at selling its unit to the systems integrator market and especially new players in this market. Rijlaarsdam told me that the company is already talking to a few companies that plan to build full-stack quantum systems based on its design. Were trying to enable people to become Dell the Dell of quantum, he said.

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NATO and White House recognize post-quantum threats and prepare for Y2Q – VentureBeat

March 9, 2022 | Author: admin

Join today's leading executives online at the Data Summit live now! Watch here.

Over the past decade, encryption has emerged as one of the key solutions that organizations use to secure enterprise communications, services and applications. However, the development of quantum computing is putting these defenses at risk, with the next generation of computers having the capability to decrypt these PKC algorithms.

While quantum computing technology is still in its infancy, the potential threat of PKC decryption remains. Yesterday, the NATO Cyber Security Center (NCSC) announced that it had tested a post-quantum VPN provider by U.K.-based quantum computing provider Post-Quantum, to secure its communication flows.

Post-Quantums VPN uses quantum cryptography that it claims is complex enough to prevent a malicious quantum computer from decrypting transmissions.

The development of these post-quantum cryptographic solutions offers a solution that enterprises and technical decision makers can use to protect their encrypted data from quantum computers.

NATO isnt alone in taking post-quantum cyber attacks seriously. The U.S. National Institute of Standards and Technology (NIST) recently announced that it was developing a standard to migrate to post-quantum cryptography to begin replacing hardware, software, and services that rely on public-key algorithms.

At the same time, the White House is also concerned over the threat raised by post-quantum computing, recently releasing a National Security Memorandum which gave the National Security Agency (NSA) 30 days to update the Commercial National Security Algorithm Suite (CNSA Suite) and to add quantum-resistant cryptography.

The memorandum also noted that within 180 days, agencies that handle national security systems must identify all instances of encryption not in compliance with NSA-approved Quantum Resistant Algorithms and chart a timeline to transition these systems to use compliant encryption, to include quantum resistant encryption.

While quantum computers arent capable of decrypting modern public key algorithms like RSA, Post-Quantums CEO Andersen Cheng believes that as quantum technology develops we will reach a Y2Q scenario, where all these security measures are obsolete in the face of the computational power of weaponized quantum computers.

People frequently talk about commercial quantum computers when referencing this Y2Q moment, and thats a long way off potentially 10-15 years away. But from a cybersecurity perspective, were not talking about slick commercial machines; a huge, poorly functioning prototype in the basement is all thats needed to break todays encryption, Cheng said.

It does not need to go through any benchmark review or certification, and this prospect is much closer and it could happen within the next three to five years, Cheng said.

If Cheng is correct that non-commercial quantum computing solutions could be developed to weaponize quantum computing in just a few years, then organizations have a fine timeline to enhance their encryption protections, or they risk handing malicious entities and nation-states a skeleton key to their private data.

However, its not just data that exposed post-Y2Q thats at risk; potentially any data encrypted data thats been harvested in the past could then be unencrypted as part of a retrospective attack.

Quantum decryption can be applied retrospectively, in that the groundwork for a harvest now, decrypt later attack could be laid today. This means that, if a rogue nation-state or bad actor intercepted data today, they could decrypt this harvested data once quantum computers capabilities exceed those of classical computers, he said.

As more enterprises recognize the need for quantum cryptography in a post-quantum world, the post-quantum cryptography market is anticipated to reach $9.5 billion by 2029, with more than 80% of revenues from the market coming from web browsers, the IoT, machine tools, and the cybersecurity industry.

While quantum computing could pose a substantial threat to enterprises down the line, there are a wide range of solution providers emerging who are developing state-of-the-art post-quantum cryptographic solutions to mitigate this.

One such provider is UK-based post-quantum provider PQShield, which offers a range of quantum-secure solutions from IoT firm to PKI mobile and server technologies, as well as end-user applications.

Some of PQShields most recently developments include researchers and engineers contributing to the NIST Post-Quantum Cryptography Standardization Process, and the company recently raising $20 million as part of a Series A funding round.

Another promising provider is Crypta Labs, which raised 5.5 million ($7.4 million USD) in seed funding in 2020, and recently developed the worlds first space compliant Quantum Random Number Generator, which will be used to securely encrypt satellite data.

Post-Quantum itself is also in a strong position, with its encryption algorithm NTS-KEM becoming the only code-based finalist in the NIST process to identify a cryptographic standard to replace RSA and Elliptic Curve for PKC in the post-quantum world.

In any case, the wave of providers developing state of the art cryptographic algorithms means there are plenty of solutions for enterprises to deploy to mitigate the risk of quantum computing, now and in the future, to ensure that their private data stays protected.

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Black Holes are Proof for Holographic Universe Revealed by Quantum – Analytics Insight

March 9, 2022 | Author: admin

Researchers use quantum computing to find whats in black holes for a holographic universe.

The holographic universe is a scientific concept discovered by Einstein. Its based on string theories that are related to concepts of quantum gravity. The holographic universe says that the mind and five senses project physical reality holographically. A black hole is a place in space where gravity pulls so much that even light cannot get out. The gravity is so strong because matter has been squeezed into a tiny space. This can happen when a star is dying.

Holographic duality is a mathematical conjecture that connects theories of particles and their interactions with the theory of gravity. Black holes warp space-time because of their immense mass. The gravity of the black hole exists in 3D but we see it as projected through particles. Researchers are attempting to use quantum computing, artificial intelligence, and machine learning to gain a better understanding of holographic duality. Its the first systematic survey for quantum computing to matrix quantum mechanics and addressing future problems also.

The holographic duality theory could hold the secret link between particle physics the study of tiny particles that make up all matter. Enrico Rinaldi said connecting the two different theories is a longstanding issue in physics, something people have been trying to do since the last century, and Einsteins theory of general relativity, which states that gravity arises from the curvature of space and time.

According to the journal PRX Quantum, published by the University of Michigan, scientists looking for support for this holographic duality suggests that what happens mathematically in a system that represents particle theory will have a similar effect on a system that represents gravity and solving such a quantum matrix model could unveil information about gravity itself.

Rinaldi suggests that by understanding the properties of this particle theory through numerical experiments, we understand something about gravity. Unfortunately, its still not easy to solve the particle theories. And thats where the computers can help.

This might connect the two theories in the idea that the motions of particles in a two-dimensional plane above the black hole reflect the 3D motions of the black hole, almost like a holographic projection. Its a concept called holographic duality.

Thats the concept researchers are hoping to test. First, use quantum computing to simulate particles that represent a projection of a black hole, then use machine learning to analyze how the particles interact with each other. The researchers hope the process will offer them insight into how both the particles and the black hole work.

While the thought of holographic duality and matrix models may bring to mind movies such as Interstellar and the Matrix. holographic duality could go beyond 3D. Some scientists even suggest that the universe could be a projection of something with even more dimensions. Researchers believe that the results of their study show an important benchmark for future work on quantum and machine learning algorithms that can be used to study quantum gravity through the idea of holographic duality. This method could show a new path towards revealing more.

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Case Eagle (QuTech): One of the Wright brothers in quantum technology – News – Aviationanalysis.net

March 9, 2022 | Author: admin

Case Eagle, Director of Business Development at The QuTech Institute, will deliver a welcome speech at the RF Technology Event (March 29), along with Jesse Robbers of Quantum Delta NL. Although the event highlights the broad spectrum of radio frequencies, quantum computing is a common thread through the program. And thats not surprising because quantum computing is hot, says Eagle

Sometimes I compare the stage we are in now with quantum computing to the stage in which the Wright brothers, inventors of the airplane, were in 1900. In October of that year, they first flew a rickety self-propelled glider over the shore. They did not reach more than 150 metres. They did not The design was good enough for long trips and still needed years of repair. But Messrs. Wright had a mission. They knew they were about to do something big. That would change the world forever.

The same is true of quantum computing. At QuTech, we are also focused on a mission: the future of information technology. Quantum computers have the tremendous power of exponential computing that will forever change the computing landscape and our society. We are building a nonviable quantum internet based on quantum technology. The laws of nature. It rules out communication interception. Prototypes for quantum computers, the so-called proof-of-concept (POC), are ready and in use. But we are far from achieving that yet.

These POCs that Eijkel is talking about are huge, complex devices that only the professionals can keep up with QuTech. It will take at least another ten to fifteen years before we have a fully functional quantum computer, Eggkel continues. To stick to the Wright brothers metaphor, we can now take a 150-meter flight, but were not ready to fly over the Atlantic.

Eijkel is proud that the Netherlands is an international leader in the development of a potential successor to supercomputers. We show that its possible and that its not just a scientific theory. Were past the thinking stage, but we still have a lot of tough system issues to solve to get a usable computer.

Three QuTech engineers working on the POC (Photo: TU Delft)

To achieve this goal, QuTech works with scientists and industrial partners internationally. Quantum technology also has a geopolitical aspect, explains Eggel. The European Union, the United States and China are all working on their own environmental protection points. Technology is increasingly of strategic importance. We are building technology together. We cannot do it alone. Together you are progressing faster, but we take into account the geopolitical reality.

QuTechs collaboration partners are diverse. Our contacts range from universities, RTOs and multinational companies like Microsoft, Intel or Fujitsu to small innovative startups. The latter group is particularly fond of Eijkel. I have always worked at the interface between science and entrepreneurship. I feel motivated to create an environment in which companies are born. I also see a lot of (young) talent and enthusiasm within QuTech. A number of colleagues from QuTech itself have initiated the successful results that you will also experience at the RF technology event.

The most important message Eijkel wants to give visitors to RF Technology is: Join us! Make sure you dont miss the boat. Quantum technology is developing at lightning speed. Dont think: It will take some time because then it will be too late.

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Bidens executive order on cryptocurrency heres what it means for you – Bankrate.com

March 9, 2022 | Author: admin

President Joe Bidens administration is preparing to regulate cryptocurrency. Biden signed an executive order Wednesday directing the federal government to study the impact of cryptocurrencies on American consumers, investors and businesses. This broad review of digital assets also explores the creation of a U.S. cryptocurrency, a digital dollar.

Federal agencies will now have months to review and prepare an assessment of these fast-growing digital currencies. According to the White House Fact Sheet for the order, the government is looking at these issues, among others:

In addition, the government is examining the issues involved with a digital dollar and what it could mean:

With the total value of all digital currencies near $2 trillion, cryptocurrency is a substantial asset class that has been largely overlooked by U.S. regulators until relatively recently. The first cryptocurrency, Bitcoin, was introduced in 2009.

Major cryptocurrencies, including Bitcoin and Ethereum, traded significantly higher on the news.

The move to examine cryptocurrency and consider potential regulations and a larger strategy for them is long overdue. The sector has been volatile and has been full of potential for chicanery, including in one of the purportedly safe crypto classes called stablecoins, which the government has already been examining.

This executive order is a definitive signal that we will finally get what we know is coming, says Daniel Strachman, managing partner at A&C Advisors, in Coral Springs, Florida. Strachman says that the industry and investors have been waiting for more than a year on a clear direction from the government.

It puts in place the foundation for regulation something we all have expected for some time now.

Experts say that regulation and a longer-term strategy help validate the cryptocurrency sector, at least its good actors and not those interested in engaging in illegal activities.

This presidential executive order could kickstart the SEC and other regulatory bodies to put in place regulations for an asset class that is here to stay, says Strachman. With this move to put regulations in place, we are going to have more market participants, increased interest and activity which I think is a great thing.

While increasing regulation validates cryptocurrency, the new executive order also explores the potential for a central bank digital currency, another move that would create further confidence.

As envisioned, such a cryptocurrency is a virtual version of the U.S. dollar. While a digital dollar could validate crypto technology, it could also pose a longer-term threat to private crypto coins such as Bitcoin and Ethereum, both of whose value derives entirely from speculators sentiment. In contrast, a digital dollar would have the backing of the U.S. government.

President Bidens executive order helps kick off the U.S. governments serious analysis of cryptocurrency, an assessment that should ultimately lead to laws and regulations that establish a set of ground rules for the industry. Those rules should help create trust and acceptance in these markets, helping them to further develop.

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Bidens executive order on cryptocurrency heres what it means for you - Bankrate.com

Cryptocurrency 101: Breaking down the basics – 13News Now

March 9, 2022 | Author: admin

Cryptocurrency is everywhere. Youve seen it advertised on TV and heard about it on your favorite podcasts. Now it's time to break down the basics.

WASHINGTON Does it feel like cryptocurrency is everywhere you look? Super Bowl commercials, social media ads and all this talk about Bitcoin. If it wasn't obvious before, cryptocurrency has officially hit the mainstream.

If you have questions about cryptocurrency and don't know where to start, you're in the right place.

Welcome to Cryptocurrency 101: the basics of cryptocurrency. In this article, well break down cryptocurrency into four parts:

What is cryptocurrency?

Encryption, Bitcoin, digital wallets and private keys. These are all cryptocurrency terms you might have heard before, but what do they mean?

Cryptocurrency is a currency or a medium of exchange that is based on solving code. The very word itself is two words combined. Cryptography, the study, and practice of sending secure messages or data between two or more parties and currency, a system of money.

Bidisha Chakrabarty, Ph.D., from Saint Louis University, broke down cryptocurrency into three parts.

To restrict it to the definition of cryptocurrency, its these currencies which are cryptographic, which means they have to be digitized, encrypted and decentralized, said Chakrabarty.

Unlike cash or gold, cryptocurrency does not exist physically but exists on computers in a series of digits, hence making it digitized. Cryptocurrency is not measured in quantities like the dollar, for instance, but it is expressed in digits of zero and one. Because cryptocurrency is expressed in digits, that means it is encrypted and stored on a network of computers.

What this process does, very simply is it takes this original representation of the currency, the cryptocurrency that you're trying to keep, and then it encrypts it, you know, call it a plain text. And then when you send it to someone, just like you would be doing a transaction with any currency that you're letting someone use, you're going to give them some way of decoding it on their side, said Chakrabarty.

With centralized currencies like the U.S. dollar, transactions are verified by going through your bank, but when it comes to cryptocurrency, the process is different. This is when the blockchain comes in.

According to Coinbase, a blockchain is a list of transactions that anyone can view and verify. The blockchain technology makes it possible to transfer money online without a middleman.

Cryptocurrencies use blockchains to maintain these transactions, and because these cryptocurrency transactions are maintained in this blockchain, there is no need for any central party like a bank, said Chakrabarty.

According to Investopedia, a blockchain records each transaction as a block of data, and that data cant be deleted or altered. Blockchains are described as a form of public ledger where details of your transaction are recorded and verified by the people in your network.

What makes cryptocurrency valuable?

In recent years, cryptocurrencies have been popping up like weeds.

Cryptocurrency is so popular that after 22 years of operation, the Lakers and Clippers home arena was renamed Crypto.com Arena in December of 2021.

Bitcoin, the first and best-known cryptocurrency, has a current value in the tens of thousands of dollars and at one time was above $70,000.

Okay, so cryptocurrency is popular, but what determines its monetary value?

Professor Andrew Wu from the University of Michigan teaches cryptocurrency to more than 120,000 students, and he says the reasoning behind the value of cryptocurrency is very simple.

The actual value that these units have in people's mind, like Bitcoin, for example, is whatever people believe it to be, Wu explained.

Because a group of people assigned monetary value to Bitcoin and other cryptocurrencies, now people are willing to pay for it, even if its priced at $40,000.

Youre probably wondering why people assign value to crypto, and its because Bitcoin and other cryptocurrencies have some traits that make them attractive as a mode of exchange.

For example, the nature of cryptocurrency puts a hard limit on the number of units that can exist. That means theres a limited supply. That makes it different from cash, which governments can always print more of, causing the value of the cash to go down. Crypto can be a hedge against that kind of inflation.

Not everyone has to accept the value of Bitcoin if enough people do, and the more people that do accept Bitcoins value, the higher its value can rise.

People believe that it has some way it has some value, for example, either as an inflation hedge, or as a way of a speculative vehicle. So, it's very similar to a digital version of gold, and that's basically the case for almost all of these cryptocurrencies out there, said Professor Wu.

How do you invest/buy cryptocurrency?

So now that we know what cryptocurrency is and what makes it valuable, lets talk about how you can invest and buy cryptocurrency.

First, you have to choose a cryptocurrency exchange. A cryptocurrency exchange is a platform where you can buy, sell, and trade cryptocurrency. There are plenty of exchanges out there, so its important to spend time researching all the exchanges before making your decision. Some exchanges have fees, others rank higher in security, and some are for beginners. So, choose the one that works best for your investment needs.

Wu recommends sticking with reputable exchanges like Coinbase and Binance.US.

Don't go to the unknown ones, you know. It doesn't matter what they say to you. They might give you bonuses for you to trade, they might, you know, have a bunch of promotional campaigns. Don't do that because they could easily take your money away, said Wu.

After you pick a crypto exchange, the process is very similar to the stock market. Create an account with that exchange and fund your account with fiat money. Fiat, meaning a government-issued currency, like the U.S. dollar.

After youve funded your account, decide which crypto you want to buy. Coinmarket.com displays a plethora of cryptocurrencies to choose from including Bitcoin, Ethereum, and Dogecoin.

Once youve done that, place a buy order for your crypto and store your crypto in a digital wallet, which keeps your private keys and cryptocurrency safe.

Your private key is like a password. According to Coinbase, its a string of letters and number that allows you to access and manage your cryptocurrency.

Traditional stock investment apps like Robinhood, PayPal and Cashapp, have also added crypto trading for its users. Even Coinstar allows you to buy Bitcoin.

Bidisha Chakrabarty, Ph.D., said if youve ever used Apple Pay or Venmo, youd be familiar with how this process works.

Then you could just use that digital wallet. From that wallet you can use whichever cryptocurrency you bought to make payments to other entities who will accept that cryptocurrency. Now, everyone does not accept every cryptocurrency unlike say, dollars. Everyone accepts dollars as a payment in this country, but cryptocurrencies are not that way, said Chakrabarty.

What are the risks of buying and investing in cryptocurrency?

Of course, with the excitement of any new financial venture comes potential risks for investors.

The Federal Trade Commission shared last year that 7,000 people had reported losses to fake cryptocurrency investments. The losses totaled more than $80 million. The report also noted that people between 20 and 30 have lost more money on investment scams than any other type of fraud.

The FTC cautioned cryptocurrency investors to be sure to research before investing, be wary of big promises or promotions, and said anyone who requests you pay by cryptocurrency, wire transfer, or gift card could be a scammer.

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Overlooked Altcoin Erupts 170% in Matter of Days While Rest of Crypto Markets Stagnate – The Daily Hodl

March 8, 2022 | Author: admin

A decentralized finance (DeFi) crypto asset that launched on the Binance Smart Chain (BSC) is surging even as the broader markets trade sideways.

Xido Finance (XIDO) is an automated market maker (AMM) with a capped supply of 100,000,000 XIDO tokens that offers yield-farming incentives to liquidity providers.

According to the AMM projects whitepaper,

XIDO Finance is a decentralized AMM with yield farming incentives, no mints, and a unique token distribution design.

XIDO Finance is powered by XIDO token which adds a governance layer and powers the self-sustaining pools and farms without ever minting a new token.

The project began back in the third quarter of 2020, with the XIDO token launching last June and peaking at $481 before correcting heavily.

Xido Finance says its goal is to drive the creation of a fully transparent, community-owned, and open-source oracle platform.

Xido recently tweeted out that its native token was available on the PancakeSwap (CAKE) exchange in the Binance Coin (BNB) trading pair.

Xido Finance had been trading flat for months before vaulting up in several steps starting on March 3rd.

The altcoin has nearly tripled in value, going from $5.57 to over $15 in 48 hours. XIDO remains priced at $15.00 at time of writing.

Featured Image: Shutterstock/Quardia/Natalia Siiatovskaia

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Overlooked Altcoin Erupts 170% in Matter of Days While Rest of Crypto Markets Stagnate - The Daily Hodl

Monero Leads Altcoin Rally on Market with 9% Price Increase, As XRP Follows – U.Today

March 8, 2022 | Author: admin

Arman Shirinyan

Monero suddenly gets first place in altcoin rally with an impressive price increase

Private cryptocurrency Monero is leading the altcoin rally on the market with an approximately 9% price increase in the last 24 hours as more people return to the "old classic" tier of cryptocurrencies. XRP also follows the trend with a 4% price increase, according to CoinMarketCap.

As the coin tracker suggests, Monero's capitalization has faced a 5.5% increase in the last few hours in addition to a 2% volume increase. As for BTC valuation, the market saw an even greater price increase.

At the beginning of March, Monero also faced a sudden volume and price increase as market players turned their heads toward "private" cryptocurrency solutions. The price of the asset reached $178 at the local peak.

We observed the highest price for the asseton Feb. 10, when XMR was trading at $187.

Though the asset shows short-term gains, Monero trades in a sharp downtrend along with most of the assets on the market. According to TradingView, XMR has lost almost 70% of its value in the last 300 days of trading. Monero reached its ATH in May and has been trading at approximately $480.

While Monero reaches another local high, other altcoinslike XRP and WAVES are also following the recovery with an average 5% price increase. Despite the questionable performance of both assets in the long-term, they have both shown decent performance in February, with an average 20% profit.

At press time, Monero trades at $168 with a 9% price increase in the last 24 hours. XRP follows with 4% growth.

Ethereum and Altcoin Market Would Be in Trouble if This Happens, According to Crypto Analyst Nicholas Merten – The Daily Hodl

March 8, 2022 | Author: admin

A top crypto analyst is warning of potential danger for the Ethereum (ETH) and altcoin markets.

In a new DataDash YouTube video, Nicholas Mertentells his 511,000 subscribers that there is still market confidence in Ethereums Bitcoin pair (ETH/BTC) despite recent drawbacks.

We have seen here that were having another drawdown here in ETHs price. But, so far, we have continued to maintain the trend we started back here in June of higher lows in price and generally still testing either at the similar range or higher ranges.

This is indicative of confidence in the market. Now that being realized, we have had a pretty solid correction [since September 2021]. Its coming to a very fragile point, where if we break below this range that we have on the chart, which is somewhere around the worst-case scenarios, 0.06 on the ETH/BTC ratios, were currently in 0.066 if we get about another 10% decline against that ratio, this could be a tell-tale sign that the market is ready for a longer drawdown.

Merten goes on to explain that while hes a big believer in crypto disrupting the financial markets over the next decade, that doesnt mean Ethereums price wont stumble before realizing potential new highs.

If we do really get a decline below [the 0.06 ETH/BTC] range, that can be a really big warning sign for prices.

It not only breaks this line of confidence, which wed really like to see be held here but on top of that, its not able to find these potential lower support ranges where you have a little bit more leeway for corrections and price.

Ethereum is trading for $2581 at time of writing, while its bitcoin pair remains at 0.067 ETH/BTC.

Featured Image: Shutterstock/Art Furnace/Natalia Siiatovskaia

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Ethereum and Altcoin Market Would Be in Trouble if This Happens, According to Crypto Analyst Nicholas Merten - The Daily Hodl

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