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Cryptocurrency Ethereum soars by 900 per cent as stellar performer gets Chinese boost – Express.co.uk

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Ethereum, which uses apps that run on a custom built blockchain, an enormously powerful shared global infrastructure, is attracting serious investor interest over its incrediblefinancial returns.

The blockchain app, which claims it allows developers to create markets, store registries of debts or promises and move funds all without a middle man or counterparty risk, was launched in August 2014.

It was developed by a Swiss nonprofit and crowdfunding campaign which has in turn catapulted it to huge success.

Since no single person, government, or institution controls that majority it is close to impossible to hack a transaction

Martin Froehler

With a current market capitalisation of more than 7billion, the digital currency is outperforming its main rival Bitcoin, according to market data.

Now analysts say it has been of particular interest to the Chinese market which is embracing the explosion in digital currency with gusto.

Blogger Andrew Keys said: "I was fortunate enough to be invited to the city of Hangzhou for the Global Blockchain Financial Summit.

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"During this trip to China, I learned about the burgeoning Ethereum communities in Beijing, Shanghai, Nanjing and Hangzhou. Every night we hosted an Ethereum meetup and it was standing room only in each city.

"Peking University is creating an Ethereum Laboratory to work on protocol improvements and application use cases that effect China, specifically in supply chain and energy markets.

"The Royal Chinese Mint is experimenting with the ERC 20 token standard and Ethereum smart contracts to digitise the RMB".

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Meanwhile Silicon Valley based Martin Frohler, who runs Quantiacs, told Express.co.uk that the cryptocurrency is set to revolutionise the way the world trades thanks to the advent of blockchain infrastructure following the news that Bitcoin surpassed $1,800 to a fresh record high today.

It rose more than $100 in just two days, driven by comments from policy makers and positive noises around the future of the cryptocurrency.

He said: "You can think of a Blockchain as an identical database of transactions (or other information) stored on hundreds of computers around the world.

"Every new transaction that's entered into the system has to be verified by the majority of the computers. Since no single person, government, or institution controls that majority it is close to impossible to hack a transaction.

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"The process of verifying transactions through computing power is called 'mining'.

"The miner receives the right to create a very small new unit of that currency as reward.

"Depending on how much Bitcoin already exist that new unit becomes smaller and smaller over time.

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"There is an absolute limit of the number of Bitcoin that will ever exist: 21 million. Bitcoin is by construction a deflationary currency, which makes it an attractive store for value.

"Anybody with internet access can buy or sell bitcoin at a bitcoin exchange or with a digital wallet".

The digital currency is trading at $91.20 (3.11%) today.

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Cryptopia launches first NZD-tethered cryptocurrency – bizEDGE NZ

Cryptocurrencies like the Bitcoin are starting to reach a broad mainstream audience andtheyre here to stay.

There are now more than 400 cryptocurrencies in circulation, worth more than $75billion.

Some businesses in New Zealand already accept Bitcoin as payment, although cryptocurrencies can be very volatile so its a pain as a buyer or seller continuously adjusting prices in Bitcoinrather than just setting prices in New Zealand dollars.

This problem has highlighted the need for an NZD cryptocurrency token, which can be traded with all the benefits of Bitcoin, but has the same value as a New Zealand dollar.

New Zealand cryptocurrency exchange Cryptopia recently launched the 'NZed' (Code NZDT), the first cryptocurrency token tethered to the New Zealand dollar.

The move came after several speakers atThe Blockchain NZconference, including Xero's Grant Anderson, raised the need for Kiwis to have a crypto-based New Zealand dollar that could be traded with most of the benefits of cryptocurrencies like Bitcoin.

The Cryptopia developer team created the new currency then, and within eight hours had orders on the exchange for more than $40,000 NZDT.

Currently, total tokens available are limited to $100,000 NZDT, an amount Cryptopia can easily back from retained funds.

Cryptopia CEO Rob Dawson says while that's not enough liquidity to allow widespread adoption, it gets the ball rolling with a challenge to government, and to the broader industry that blockchain technologies and cryptocurrencies are here to stay.

Right now, we can only accept cash deposits for tokens from overseas clients, although pending regulatory confirmation we expect to be able to offer the full service to Kiwis shortly.

We need to get moving if we want to establish New Zealand as a global leader in this space, says Dawson.

Australia is starting to eye the industry, recently announcing the removal of a salestax in the 2017 Federal Budget that has hindered the cryptocurrency trade there until now.

Historically, New Zealand has led the world in financial innovation, for instance with the world-first introduction of eftpos in the 90s,adds Dawson.

We think Kiwis are great at adopting new technologies so New Zealand makes a great test market.

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Cloud Computing, Term of Art Complete Preakness Works – BloodHorse.com (press release) (registration) (blog)

Klaravich Stables and William Lawrence's Cloud Computing tuned up for his expected run in the May 20 Preakness Stakes (G1) with a half-mile breeze in :48.85 over the Belmont Park training track May 13.

Under exercise rider Peter Roman, Cloud Computing beat the worst of the rain by coming out just after thetraining track opened at 5:30 a.m. The son of Maclean's Music posted the second fastest drill of 32 moves at the distance.

"He breezed very well, galloped out super, and came back good so far," said trainer Chad Brown. "That's his last piece of work and if he comes out of it well he'll be on to Baltimore on Tuesday."

Unraced as a juvenile, Cloud Computing has made three starts this season, with his most recent outing being a third-place finish in the April 8 Wood Memorial presented by NYRA Bets (G2). The dark bay colt previously ran second to J Boys Echo in the March 4 Gotham Stakes (G3) after he broke his maiden at first asking going six furlongs at Aqueduct Racetrack Feb. 11.

On the opposite coast, fellow Preakness hopeful Term of Art also completed his last serious work before shipping to Baltimore. He worked six furlongs in 1:13 4/5 at Santa Anita Park Saturday.

Calumet Farm's Term of Art is slated to leave Santa Anita May 16 for the middle leg of the Triple Crown. The Doug O'Neill-trained son of Tiznow was most recently seventh in the Santa Anita Derby (G1) but captured the Cecil B. DeMille Stakes (G3) at Del Mar last November.

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Oracle Bets On India To Grow Cloud Business – CXOToday.com

Technology major Oracle has chosen India as one of its key markets to take on rivals Amazon, Microsoft and Google and hence, it has taken the cloud route seriously. The California-based IT giant that already accounts for 40,000 of the companys global employee strength of 130,000 in the country, is aiming at the enterprises and government for its initiatives like Digital India.

At its flagship event Oracle OpenWorld in New Delhi, held for the first time in the country, the company announced a slew of cloud-based initiatives for the Indian market. Oracle has announced it willexpand its cloud services in Indiaover the next six to nine months. This can be achieved with the opening of a new Oracle data center in India. The $37 billion company [2016] has also announced the availability of Oracle Enterprise Resource Planning (ERP) Cloud in India to help local and multinational firms operating in India prepare for the countrys transformational tax reforms - GST.

The justification for the expansion is the explosion of growth in demand within Indian businesses and government, Dr. Andrew Sutherland, Senior Vice President, Technology and Systems, Oracle Europe, Middle East, and Africa told CXOToday.

We are in fact hoping to get a bigger slice of government spending in India on cloud, he added, stating that Gartner believes that theIndian government would spendat least US$ 7 billion on IT products in 2017, which means a lot more opportunity for players like us in the country.

Oracle CEO Safra Catz who has made a second visit to India in less than a year, also calledIndia as one of their fastest growing markets in quarterly financial results announcements in recent times.

Governments at the national and state levels are rapidly moving into the future. Digital India is the only way to empower citizens and make governments accountable - a reason why we are investing so much here, she said.

The worldwidepublic cloud servicesmarket would grow 17.2 percent to total $208.6 billion, with the highest growth come frominfrastructurecloud services. India is mirroring this trend. A recentGartnerreport indicated that Indian businesses and government are adopting cloud in greater numbers, with the public cloud computing market in the country is expected to touch a total of $1.8 billion in 2017. Of that the Infrastructure-as-a-Service (IaaS) segment is expected to see the highest growth (49.2%).

With its next generation cloud platform, Oracle is gunning for aggressive growth in the IaaS segment.

IaaS continues to be the strongest-growing segment as it has become more mainstream and enterprises move away from data center build-outs and move their infrastructure needs to the public cloud. It allows customers to go to market faster. Being able to access a secure and scalable infrastructure will help customers to run any workload in the cloud for instant added value and productivity for their business, saidSutherland.

Asked Sutherland, since there is a strong race in the cloud computing domain, how Oracle differentiates its services from rivals Amazon, Microsoft and Google, among others, he said, Oracle is now the worlds fastest growing scaled cloud company and the only company that can offer a complete portfolio across all three layers of the cloud: SaaS, PaaS and IaaS is betting big on the cloud, specifically in IaaS. What differentiates Oracles IaaS cloud from others is itsenterprise orientation and cost effectiveness.

Earlier, at a select media briefing session, Catz took a dig at cloud rivals, especially Amazon Web Services (AWS), stating, Do they (AWS) provide software as a service? Do they provide Oracle database as a service? They provide raw compute as a service, yes. And this is where we compete, and at the same price, she said.

In other words, while its rivals only have cloud infrastructure, Oracle has everything, clarified the executives, as Sutherland added, Very recently, we announced the broadest array of IaaS offerings in the industry. In a nutshell, Oracles newly announced portfolio of IaaS and PaaS solutions include market leading offerings, such as:Cloud servers that are 11 times faster and 20 % cheaper (IaaS), perform 105 times faster for analytics and 35 times faster for online transaction processing, to mention a few.

With Oracle able to offer the full cloud stack of SaaS, PaaS and IaaS they can definitely in the market. DD Mishra, Research Director at Gartnercommented:As the demand for agility and flexibility grows, organizations will shift toward more industrialized, less-tailored options. Organizations that adopt hybrid infrastructure will optimize.

In this regard, Oracle has full faith in the countrys stakeholders, asThomas Kurian, the president for product development for Oracle mentioned,Our customers and partners in India have trusted their businesses and mission-critical workloads to the Oracle Cloud for years. Our slew of offerings further support customer choice and strengthen our commitment to the countrys market, he summed up.

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Quantum Computing Demands a Whole New Kind of Programmer – Singularity Hub

Quantum computers finally seem to be coming of age with promises of quantum supremacy by the end of the year. But theres a problemvery few people know how to work them.

The bold claim ofachieving "quantum supremacy"came on the back of Google unveiling a new quantum chip design. The hyperbolic phrase essentially means building a quantum device that can perform a calculation impossible for any conventional computer.

In theory, quantum computers can crush conventional ones at important tasks like factoring large numbers. Thats because unlike normal computers, whose bits can either be represented as 0 or 1, a quantum bitor qubitcan be simultaneously 0 and 1 thanks to a phenomenon known as superposition.

Demonstrating this would require thousands of qubits, though, which is well beyond current capabilities. So instead Google plans to compare the computers ability to simulate the behavior of a random arrangement of quantum circuits. They predict it should take 50 qubits to outdo the most powerful supercomputers, a goal they feel they can reach this year.

Clearly the nature of the experiment tips the balance in favor of their chip, but the result would be impressive nonetheless, and could act as a catalyst to spur commercialization of the technology.

This year should also see the first commercial universal quantum computing service go live, with IBM giving customers access to one of its quantum computers over the cloud for a fee. Canadian company D-Wave already provides cloud access to one of its machines, but its quantum computers are not universal, as they can only solve certain optimization problems.

But despite this apparent impetus, the technology has a major challenge to overcome. Programming these devices is much harder than programming conventional computers.

For a start, building algorithms for these machines requires a certain level of understanding about the quantum physics that gives qubits their special properties. While you dont need an advanced physics degree to get your head around it, it is a big departure from traditional computer programming.

Writing in ReadWrite, Dan Rowinski points out, Writing apps that can be translated into some form of qubit-relatable code may require some very different approaches, since among other things, the underlying logic for digital programs may not translate precisely (or at all) to the quantum-computing realm.

And while there are a number of quantum simulators that can run on a laptop for those who want to dip their toes in the water, real quantum computers are likely to behave quite differently. The real challenge is whether you can make your algorithm work on real hardware that has imperfections, Isaac Chuang, an MIT physicist, told Nature.

Convincing programmers to invest the time necessary to learn these skills is going to be tricky until commercial systems are delivering tangible benefits and securing customers, but thats going to be tough if theres no software to run on them.

The companies building these machines recognize this chicken and egg problem, and it is why there is an increasing drive to broaden access to these machines. Before the announcement of the commercial IBMQ service, the company had already released the free Quantum Experience service last year.

Earlier this year, D-Wave open sourced their Qbsolv and Qmasm tools to allow people to start getting to grips with programming its devices, while a pair of Google engineers built a Quantum Computing Playground for people to start investigating the basics of the technology. The company plans to provide access to its devices over the cloud just like IBM.

We dont just want to build these machines, Jerry Chow, the manager of IBMs Experimental Quantum Computing team told Wired. We want to build a framework that allows people to use them.

How easy it will be to translate the skills learned in one of these companies proprietary quantum computing ecosystems to another also remains to be seen, not least because the technology at the heart of them can be dramatically different. This could be a further stumbling block to developing a solid pool of quantum programmers.

Ultimately, the kinds of large-scale quantum computers powerful enough to be usefully put to work on real-world problems are still some years away, so theres no need to panic yet. But as the researchers behind Googles quantum effort note in an article in Nature, this scarcity of programming talent also presents an opportunity for those who move quickly.

If early quantum-computing devices can offer even a modest increase in computing speed or power, early adopters will reap the rewards, they write. Rival companies would face high entry barriers to match the same quality of services and products, because few experts can write quantum algorithms, and businesses need time to tailor new algorithms.

Image Credit: Shutterstock

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Refrigerator for quantum computers discovered – Science Daily


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Refrigerator for quantum computers discovered
Science Daily
Just like ordinary processors, a quantum computer also needs a cooling mechanism. In the future, thousands or even millions of logical qubits may be simultaneously used in computation, and in order to obtain the correct result, every qubit has to be ...
Quantum Refrigerator Breakthrough Might Be Crucial For Future Of ComputingIFLScience

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Scientists Invent Nanoscale Refrigerator For Quantum Computers – Wall Street Pit

Centimetre-sized chip with nanoscale refrigeration. Credit: Kuan Yen Tan

Quantum computers have been hailed as the computers of the future because of their potential to solve the most complex of problems within a reasonable time frame. What differentiates a quantum computer from a traditional electronic computer is its use of quantum bits (qubits for short) instead of regular bits. A bit can only represent one of two states, either 0 or 1. In contrast, a qubit can represent more than one state 0, or 1, or both 0 and 1. And this is made possible through the quantum quirks known as superpositioning and entanglement. It is this bizarre ability to be in two states at once that makes a quantum computers computational power exceptional, extraordinary and virtually elusive up to now.

In spite of their differences in terms of functioning capabilities, one thing that a conventional computer and a quantum computer have in common is the need to keep both cool enough so their components do not overheat and malfunction or shut down completely. Traditional computers have their cooling fans. For quantum computers, its not as simple.

For starters, qubits must be protected from any kind of external disturbance because a slight interference will mess up the superpositioning state, resulting in errors and negating what a qubit is supposed to be for in the first place. Also, because qubits heat up while performing calculations, theres a need to reset them to their low temperature state or ground state before the next round of calculations can be done. For a quantum computer to be useful at all, it needs a cooling mechanism that can do this job (referred to as initializing) quickly.

This is where the work of Mikko Mttnen and his colleagues comes in. They are claiming that they have built a cooling device specifically designed for a quantum circuit that is capable of quickly initializing quantum devices, thus minimizing the incidence of errors when doing quantum computing.

The nanoscale refrigerator the team invented involves the use of voltage-controllable electron tunnelling to cool a qubit-like superconducting resonator through a two-nanometer-thick insulator. To make it work, current from an external voltage source is applied to electrons, giving them an amount of energy insufficient for direct tunnelling. This forces the electrons to capture the remaining amount of energy needed for tunnelling from the nearby quantum device, thus making the quantum device lose energy and cool down.

To turn off cooling, the external voltage simply needs to be adjusted to zero. In that condition, the electrons wont have enough energy (even if they capture energy from the quantum device) to move through the insulator.

As Mikko Mttnen aptly describes it their refrigerator keeps quanta in order.

Going forward, the team is planning to cool actual qubits, instead of just resonators. They will also work on lowering the minimum achievable temperature and speeding up the on/off switch.

The research was recently published in the journal Nature Communications.

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Nanofridge could keep quantum computers cool enough to calculate – New Scientist

This centimetre-sized chip has nanoscale refrigeration

Kuan Yen Tan

By Jennifer Ouellette

Even quantum computers need to keep their cool. Now, researchers have built a tiny nanoscale refrigerator to keep qubits cold enough to function.

Classical computers require built-in fans and other ways to dissipate heat, and quantum computers are no different. Instead of working with bits of information that can be either 0 or 1, as in a classical machine, a quantum computer relies on qubits, which can be in both states simultaneously called a superposition thanks to the quirks of quantum mechanics. Those qubits must be shielded from all external noise, since the slightest interference will destroy the superposition, resulting in calculation errors. Well-isolated qubits heat up easily, so keeping them cool is a challenge.

Also, unlike in a classical computer, qubits must start in their low-temperature ground states to run an algorithm. Qubits heat up during calculations, so if you want to run several quantum algorithms one after the other, any cooling mechanism must be able to do its job quickly. A standard fan just wont cut it.

Now, Mikko Mttnen at Aalto University in Finland and his colleagues have built the first standalone cooling device for a quantum circuit. It could eventually be integrated into many kinds of quantum electronic devices including a computer.

The team built a circuit with an energy gap dividing two channels: a superconducting fast lane, where electrons can zip along with zero resistance, and a slow resistive (non-superconducting) lane. Only electrons with sufficient energy to jump across that gap can get to the superconductor highway; the rest are stuck in the slow lane.

If some poor electron falls just short of having enough energy to make the jump, it can get a boost by capturing a photon from a nearby resonator a device that can function as a qubit. As a result, the resonator gradually cools down.

Over time this has a selective chilling effect on the electrons as well: the hotter electrons jump the gap, while the cooler ones are left behind. The process removes heat from the system, much like how a refrigerator functions.

Spiros Michalakis at the California Institute of Technology draws a loose analogy with the famous thought experiment known as Maxwells Demon, in which an intelligent being presides over a box of gas atoms divided into two chambers. The demon allows only the hottest, or most energetic, atoms to pass through an opening in the wall dividing the two chambers, resulting in a sharp difference in temperature between the two.

There is no demon in the quantum fridge, but it works in a similar way, Michalakis says. Its kind of like a gate similar to Maxwells Demon, where you only allow electrons with energy above a certain threshold to cross, he said.

The next step will be to build the device and cool actual qubits with it, being careful not to accidentally destroy the superposition when the fridge is shut down. Mttnen is confident enough in eventual success that he has applied for a patent for the device.

Maybe in 10 to 15 years, this might be commercially useful, he said. Its going to take some time, but Im pretty sure well get there.

Journal reference: Nature Communications, DOI: 10.1038/ncomms15189

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Home News Computer Europe Takes Quantum Computing to the Next Level With this Billion Euro… – TrendinTech

The race on quantum technologies is on in a big way. Weve already seen big investments coming from both China and the United States, and now Europe is jumping in on the action too. Last year the European Commission announced its plans to invest 1 billion Euros ($1.1 billion) into quantum mechanic research. However, experts are concerned that partners are reluctant to invest.

A meeting was held by an advisory group steering the Quantum Technology Flagship project on 7 April at the Russian Centre of Science and Culture in London. Here the group gave details of how the project will work which includes exploiting the behavior shown by quantum systems in order to develop new technologies such as ultra-accurate sensors and super-secure communication systems. But is it too little too late? Various other countries are already developing these technologies, including China and the U.S.

Europe cannot afford to miss this train, says Vladmir Buzek, a member of the steering group and physicist at the Research Center for Quantum Information of the Slovak Academy of Sciences in Bratislava. The industry here is really waiting too long. Launched just last year, this quantum project is a decade-long initiative that will work differently to previous efforts, operating with open calls throughout to ensure flexibility in funding the best researchers. The focus of the European Flagship will be on four distinct areas of quantum technologies: communication, sensing, computing, and simulation.

China is clearly in the lead currently when it comes to quantum communication. They hold the most patents globally in this field with the United States leading to patents involving quantum computers and ultrasensitive sensors. One of the big problems Europe face is the loss of the United Kingdom following the Brexit vote. The project is due to kick off the same year as the United Kingdom are due to exit the European Union (2019). But experts suggest the timing may actually be a good thing and are hopeful the United Kingdom can still participate in some form.

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Researchers seek to advance quantum computing – The Stanford Daily

Researchers in Professor of Engineering Jelena Vuckovics lab are pursuing smaller, faster computers with work in the cutting-edgefield of quantum computing.

Most currentcomputing is based on a binary system of ones and zeros generated by electricity. Instead of using electricity and digits, quantum computing analyzes particles of light called quanta, emitted by lasers striking single electrons. The light particles indicate the way each electron is spinning; they allow transmission of more complicated information than would be possible with just binary numbers.

That greater range of possibilities forms the basis for more complex computing, Marina Radulaski, a postdoctoral fellow in Vuckovics lab, toldStanford News.

According to Vuckovic, whose research is at theforefront of quantum computing, the technology is applicable to a wide variety of problems involving many variables for example, issues in fields like cryptography and data mining.

When people talk about finding a needle in a haystack, thats where quantum computing comes in, Vuckovic said.

For the last two decades, Vuckovic has sought to develop new kinds of quantum computer chips. Recently, she has joined forces with others around the globe to test out three different ways of isolating electronsfor interaction with lasers.

Each of the three strategies leverages semiconductor crystals, a material whose lattice of atoms can be modified subtly to hold electrons.

Many companies tackling quantum computing seek to cool materials almost to absolute zero, the temperature at which atoms stop moving. But one of the materials Vuckovic and her colleagues have been exploring could function at standard room temperatures. This normal-temperature optioncould help quantum computing become more widespread.

To fully realize the promise of quantum computing we will have to develop technologies that can operate in normal environments, Vuckovic said. The materials we are exploring bring us closer toward finding tomorrows quantum processor.

We dont know yet which approach is best, so we continue to experiment, she added.

Contact Hannah Knowles at hknowles at stanford.edu.

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