Could quantum computing kill BTC??
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•Company builds hardware - quantum computers.
•They are not powerful enough yet to solve big problems.
•Focuses on building more affordable computers. Their computers cost less than a million USD.
•Have sold computers to U.K. MoD & Israel. 1/
•Their computer looks similar to what is already out there. 2/
Quantum Computing Industry
•30 - 50 quantum computing companies worldwide.
•Companies cover software & hardware.
•Only a few companies similar to OCRA.handful. 3/
The Problems Quantum Computing is Solving
•Clients usually own large data centers & they know the limits of classical computers.
•Some parts of what they are trying to do can be accelerated w/ a quantum computer. 4/
•Systems that will be able to break encryption won’t be available for a long time.
•The systems that are used today are used for short-term applications that client finds through exploration. 5/
•Quantum computers are good at problems where there are a lot of parameters interlinked to each other.
•These parameters can be solved at the same time while a classical computer solves one at a time. 6/
Quantum Physics & Quantum Computing
•While in the normal world a condition can be 1 or 0 (e.g. light switch can be on or off), in the quantum world, the same condition can be 1 & 0. 7/
•If you reflect 1 photon at a mirror, it both gets reflected & goes straight through the mirror at the same time.
•Quantum computers are built on operations where a single photon is split in many different ways & it’s still just one photon. 8/
•You can’t build a modern computer without understanding quantum physics.
•Observing a quantum effect breaks it.
•When building a quantum computer you are relying on rules you know that work, even if you can’t explain them. 9/
•Quantum computers don’t replace a normal computer, it’s something completely different.
•Quantum computers that use electrons rely on being in very low temperature. 10/
•The reason why OCRA Computing systems don’t need low temperatures is that they use photons that don’t interact w/ anything in the same way electronics do. 11/
Current State of Quantum Computing
•Quantum computing works best if clients offer many computational problems & the team can evaluate which ones are possible to solve. 12/
•If there was a customer who wanted to build a quantum computer for mining BTC, OCRA Computing would look at the problem & try to design a computer for this task.
•The largest challenge currently is accuracy & the larger the system gets, the more noise there is. 13/
•Designing a drug from start to finish inside a computer. 14/
•Similar to arms race between US & China.
•The good applications rather than the bad ones emerge first.
•Several companies are getting together & discussing ethical side of quantum computing. 15/
•There is quantum-resistant encryption that is being researched.
•Richard would evaluate the quantum computer risk for BTC being 10+ years away. 16/
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