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QRL Cryptocurrency Soars 148% After Google’s Willow Quantum Chip Announcement
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The Quantum Resistant Ledger (QRL) cryptocurrency has seen an impressive increase of more than 148% in the last 24 hours, driven by the impact of the announcement of Willow, a next-generation quantum chip introduced by Google.
Developed by Google Quantum AI, Willow promises significant advances in quantum computing and has provoked intense reactions in the cryptocurrency market.
The Willow chip is highlighted as a milestone in quantum error correction, exponentially reducing the error rate as the number of qubits increases.
According to Hartmut Neven, founder and director of Google Quantum AI, “Willow significantly takes us on the path towards commercially relevant applications.”
QRL Cryptocurrency
Furthermore, he has already performed calculations that would take a conventional supercomputer 10 septillion years in less than five minutes.
Quantum computing, seen as a watershed for technology, has also reignited concerns in the cryptocurrency market, especially about the security of cryptography used in networks such as Bitcoin (BTC).
Although experts consider it unlikely that current quantum technology will compromise Bitcoin, the mere possibility has generated anxiety among investors. This was reflected in a drop in the prices of BTC and several altcoins following the announcement.
However, while most cryptocurrencies faced devaluation, QRL headed in the opposite direction. Positioned as a blockchain resistant to quantum computing, QRL uses a secure digital signature scheme called XMSS, which, according to its developers, is more robust against quantum attacks.
This characteristic was enough to attract speculators looking for protection against possible future threats.
With a modest market capitalization of $52 million and high volatility, QRL benefited from the sudden attention, trading at $0.81 at the time of publication, according to data from Coingencko
QRL Cryptocurrency Soars 148% After Google’s Willow Quantum Chip Announcement
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QRL Cryptocurrency Soars 148% After Google’s Willow Quantum Chip Announcement
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QRL Cryptocurrency Soars 148% After Google’s Willow Quantum Chip Announcement
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QRL Cryptocurrency Soars 148% After Google’s Willow Quantum Chip Announcement
