The October 2022 issue of IEEE Spectrum is here!

Close bar

The Bitcoin Arms Race Is On!

Powerful mining machines are changing the nature of the popular cryptocurrency

6 min read
photo of bitcoins
Photo: George Frey/Bloomberg via Getty Images

Bitcoin, the cryptocurrency powered by a decentralized peer-to-peer network of computers, has been hot this season. With the exchange rate bobbing around US $100, those involved in creating new bitcoins—and upholding the network that makes them valuable—have become locked in an arms race of sorts, seeking new, powerful machines that will enrich them but that could also destabilize the nascent virtual money.

Keep Reading ↓Show less

This article is for IEEE members only. Join IEEE to access our full archive.

Join the world’s largest professional organization devoted to engineering and applied sciences and get access to all of Spectrum’s articles, podcasts, and special reports. Learn more →

If you're already an IEEE member, please sign in to continue reading.

Membership includes:

  • Get unlimited access to IEEE Spectrum content
  • Follow your favorite topics to create a personalized feed of IEEE Spectrum content
  • Save Spectrum articles to read later
  • Network with other technology professionals
  • Establish a professional profile
  • Create a group to share and collaborate on projects
  • Discover IEEE events and activities
  • Join and participate in discussions

Quantum Error Correction: Time to Make It Work

If technologists can’t perfect it, quantum computers will never be big

13 min read
Quantum Error Correction: Time to Make It Work
Chad Hagen
Blue

Dates chiseled into an ancient tombstone have more in common with the data in your phone or laptop than you may realize. They both involve conventional, classical information, carried by hardware that is relatively immune to errors. The situation inside a quantum computer is far different: The information itself has its own idiosyncratic properties, and compared with standard digital microelectronics, state-of-the-art quantum-computer hardware is more than a billion trillion times as likely to suffer a fault. This tremendous susceptibility to errors is the single biggest problem holding back quantum computing from realizing its great promise.

Fortunately, an approach known as quantum error correction (QEC) can remedy this problem, at least in principle. A mature body of theory built up over the past quarter century now provides a solid theoretical foundation, and experimentalists have demonstrated dozens of proof-of-principle examples of QEC. But these experiments still have not reached the level of quality and sophistication needed to reduce the overall error rate in a system.

Keep Reading ↓Show less
{"imageShortcodeIds":["29986363","29986364"]}