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Crypto

Google quantum chip Willow cuts computation errors 40-fold, but bitcoin security threat still distant

Google succeeds in cutting errors in “magic state,” a key resource for quantum computing, to about one-fortieth of the previous level. Its Quantum AI team reports achieving 99.99% logical accuracy using its Willow processor, but the performance remains far from levels needed to crack bitcoin or RSA-2048 encryption. Researchers cite a wide gap in required accuracy and note that Willow has 105 physical qubits, far below estimates for such attacks.

Crypto

Cardano founder develops new programming language, bets on advanced cryptography

Charles Hoskinson, founder of Cardano, said he is personally developing a new programming language for the blockchain. The language is designed to handle intents and proof-carrying data using Groth16 proofs, he said. Hoskinson did not disclose the language’s name, specifications or launch schedule. He also previewed new use cases for Midnight, a partner blockchain focused on privacy, but it is unclear whether the two projects are linked.

Crypto

Bitcoin, ether year-end rally hinges on rates and ETF flows

Bitcoin and ether could extend their recovery through year-end, but higher rates and ETF fund flows will be key variables, a report said. Coinbase and on-chain analytics firm Glassnode said bitcoin’s $90,000 to $94,000 range could be a strong resistance level. The report pointed to demand for dollar alternatives despite Fed rate hikes and rising Treasury yields, and said further gains depend on inflation stability, a breakout above resistance and continued spot ETF inflows.