IBM announces new advancements in quantum computing

IBM has just launched significant improvements in quantum computing research, from chips, software to error correction systems.

At the Quantum Developer Conference in New York on Wednesday, the company announced its goal to achieve quantum advantage by 2026 and fault-tolerant quantum systems by 2029. The new “Nighthawk” processor promises over 30% more complex circuits compared to the previous generation, while maintaining low error rates. At the same time, the experimental chip “Loon” is designed to detect and self-correct errors in real-time.

IBM also stated that the error correction system is now 10 times faster than before, reaching the milestone a year earlier than expected, and the chip development speed has doubled thanks to the new 300 mm wafer factory in New York.

Although still in its infancy, quantum computing has the potential to break the encryption that protects Bitcoin and other cryptocurrencies. Expert Amit Mehra predicts that security risks will become apparent by the end of the decade, while Charles Edwards and researcher Gianluca Di Bella warn that quantum-resistant encryption needs to be implemented now to avoid “data collection today, decryption later” attacks.

Analyst Willy Woo recommends Bitcoin holders protect their assets by switching to SegWit addresses and holding until there is a quantum-safe solution.