The quantum computer chatter: What should you know before the next stock rally
Quantum computing is making the headlines more often. Sooner rather than later, everyone will start talking about it, so here’s what I think you should know.
By Cybernews
Quantum computing is making the headlines more often. Sooner rather than later, everyone will start talking about it, so here’s what I think you should know.
This Thursday, quantum computing stocks rocketed in response to something a quantum computing executive said. It wasn’t a major innovation that markets reacted to this time, and yet, this is just one example of quantum computing making it to the mainstream media.
Should you invest $1,000 into a quantum stock now? Such and similar articles pop up everywhere, while we await a major breakthrough from the scientists.
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So here’s what you need to know if you aren’t familiar with the field, and yet, are afraid that soon your friends will start discussing the topic.
Why should I care about quantum computing?
Companies are pouring billions of dollars into the quantum research industry, with more and more real-life applications of the technology becoming available. The effect of the arrival of the first fault-proof quantum computer could be compared to the release of ChatGPT just a few years ago. It is going to be big.
Do quantum computers exist today?
Many major companies like IBM, Google, Microsoft, and Nokia are developing a quantum computer. However, we still might be decades away from a fully functional, fault-proof, and commercially available quantum computer, as scientists are still trying to figure out the science behind the qubit and harness it for technological applications.
What is a qubit in simple terms?
A qubit (quantum bit) is a basic unit of information in a quantum computing system. As opposed to the classical binary system based on 1 or 0, quantum is based on 1 AND 0. In simple terms, it is limitless, and computations can be performed way faster, leading to major breakthroughs in a variety of fields.
What is the biggest challenge in quantum computing today
The most pressing challenge when it comes to developing quantum computers is its building block - the qubit. For the next big leap, we need a stable qubit. However, temperatures, magnetic fields, and other external conditions have a huge effect on the qubits within the system. Therefore, they have an extremely short lifespan, often measured in mere milliseconds.
What will quantum computers do?
Quantum computers will be able to perform calculations much faster than classical computers, accelerating drug discovery, material science, logistics, financial modeling, and AI, among other fields.
What is the biggest threat of quantum computing?
Quantum computers cracking classical encryption is seen as a risk to every current system we have, including cryptocurrencies. That’s why there are new cryptography standards being developed and pushed out to prepare for the so-called Q-day.
Q-day refers to a moment when quantum computers will finally be able to crack classical encryption. Unless we prepare for this, anyone having access to the technology might be able to crack the world’s most precious secrets.
Where could I read more?
We at Cybernews (could be just me, though) are fans of quantum computing and quantum physics. Here’s my shortlist of books related to quantum breakthroughs:
