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Breaking News: Bitcoin Exchange Gemini Makes A Splash On Nasdaq Debut, Jumping Nearly 50%

How a stake pool managed to produce Cardano’s first Quantum block

Reynaldo Marquez
Reynaldo Marquez
4 years ago
2 mins read
Cardano ADA ADAUSDT

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Cardano inventor and IOG CEO Charles Hoskinson has celebrated the production of the platform’s first “quantum block”. Created by Cardano’s stake pool called Onyx, the operator claimed to have successfully used an algorithm on the IonQ quantum computer.

The stake pool operator has set out to use this technology to give Cardano’s blockchain a source of “true entropy.” On April 4, the operator posted the following message via its Twitter account:

Success! I have sampled 32k random bits from an eight-qubit circuit with Hadamard gates on the Rigetti quantum computer! This is now the first candidate data block for the entropy infusion into the Cardano blockchain!

Amazing to see cardano's first Quantum block https://t.co/F2sqZBSQUm

— Charles Hoskinson (@IOHK_Charles) April 4, 2021

Benefits for Cardano’s blockchain

Promising to provide further updates shortly, Onyx’s operator confirmed that adding “true” entropy to Cardano’s blockchain will allow the platform to be more secure and resistant to tampering by bad actors.

One of the use cases for this technology could be “Tamperproof slot leader selection”. Stake pool Onyx has 4 pools. The first one has 46,458,456 funds in ADA and a lifetime ROA of 5.03% with 1,800 delegators and 55 blocks produced.

The remaining pools have more than 30 million ADA and a lifetime ROA of between 5.1% and 5.5%. The operator claimed to have implemented the Practical randomness and privacy amplification approach developed by researchers at Cambridge University and Imperial College London.

According to their research, the implementation of this approach was created to reduce the execution of this process’s complexity to a linear level. In that way, accessible tools can be used to implement it. The investigation claims:

We have presented the first complete implementation of a protocol for randomness and privacy amplification.  The setup, parameters, randomness post-processing, and statistical analysis were all optimized for real-world quantum devices.   Our protocol has linear rates in the runtime of the quantum device and maximal noise tolerance.   The randomness post-processing was also tailored to the task of randomness and privacy amplification.

ADA is trading at $1,19 with 1.3% gains in the 24-hour chart. In the weekly and monthly chart, ADA has 0.3% and 2.6% gains, respectively.

Cardano ADA ADAUSDT
ADA moving sideways in the 24-hour chart. Source: ADAUSDT Tradingview
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Reynaldo Marquez
Reynaldo Marquez

Reynaldo Marquez

A literature major, Reynaldo Márquez has been deeply immersed in the crypto industry since 2017. His journey began with translating articles for various crypto news outlets, a role he took on with zeal. In 2018, amidst a challenging market, he embraced his first writing assignment, demonstrating his unwavering commitment to the nascent industry and the promise of change it bears for many people worldwide.
In March 2021, he joined the prestigious crypto news outlet NewsBTC and Bitcoinist, where he not only reported on the latest crypto news but also had the privilege of interviewing some of the industry's most influential figures. A year later, his dedication and hard work were recognized, and he was promoted to Managing Editor, a position he currently holds with pride.
He believes in honesty, good communication, hard work, and the power of cryptocurrency and its potential to transform people's lives, especially those alienated by the legacy financial system. Born in 1992 in Venezuela, Reynaldo is familiar with how governments and central banks can negatively affect people, their everyday lives, and their futures by creating inflation and erasing their hopes for a better future. Thus, like many Venezuelans, he embraced this new technology to help him and his family navigate difficult times.
In another life, Reynaldo would have pursued a career as an investigator, most likely tracking down the origins of the Cyberpunk movement with the publication of William Gibson’s ‘Neuromancer.’ The intersection between fiction and reality, with the materialization of Bitcoin in 2009, would have allowed him to dive deep into the crypto sphere as something more than a financial phenomenon but also a cultural shift in society that was brewing since the XX century, and maybe even sooner, in the XIX century with the publication of Henry David Thoreau’s ‘Civil Disobedience.’
But that’s for another life. In this one, Reynaldo has been trading to improve his trading skills. Since 2023, he has been trying to learn Python to create successful strategies and find ways to execute them. It is a difficult task, which continues to keep him busy today and will most likely continue to keep him busy in the near and long term.
In his free time, he enjoys lifting heavy objects, reading, watching movies, and listening to his favorite music. Some of his favorite authors are Walt Whitman, William Faulkner, Allen Ginsberg, James Baldwin, Raymond Carver, Ray Bradbury, George Orwell, Mario Vargas Llosa, Reinaldo Arenas, Rafael Cadenas, and many others. Lately, he has been primarily interested in reading about dystopic societies, a topic that deeply resonates with the crypto industry.
Since 2023, he has lived in Spain with his wife. He loves the weather, the food, and the people and their culture. They both expect to travel much more within the country they now call home and beyond its border. He hopes to retire with his wife, maybe in a quiet place near a beach, but most likely in a city close to a library and a university with his kids and, hopefully, grandkids.

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

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Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

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