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Google's new quantum chip won't kill people, experts say
Following the recent introduction of Google's (NASDAQ:) quantum computing chip Willow, the cryptocurrency community has begun speculating about its potential impact on Bitcoin and other digital assets. Some are even linking BTC's recent price drop to the latest advances in quantum computing. However, experts, including Bitcoin entrepreneur and advocate Ben Sigman, believe that Willow currently does not have the power needed to crack Bitcoin's encryption. Shor allows powerful quantum computers to break the ECDSA algorithm used to encrypt Bitcoin. However, to do this, a computer would need a staggering 1 million qubits. Willow now has an improved error rate, reaching just 105 qubits. The challenge is even greater when it comes to cracking SHA-256, the other encryption method used by Bitcoin. That would require a quantum computer with millions of physical qubits.
stablecoin receives regulatory approval
Yesterday, Ripple CEO Brad Garlinghouse took to the X Platform to announce that the company's RLUSD stablecoin has received formal approval from the New York State Department of Financial Services (NYDFS). Thanks to this development, dollar-pegged tokens will be available on major exchanges in the near future. Garlinghouse confirmed that a list of partners and exchanges will be published “soon.” The CEO concluded his post by urging the community to remain vigilant and only trust official sources for information regarding RLUSD. “When RLUSD goes live, you will first hear about it from Ripple,” Garlinghouse wrote. The stablecoin, first revealed by Ripple in April, began beta testing on the XRP Ledger in August and in collaboration with select corporate partners.
Torch 51,763,782 SHIB, burn rate increased by 1,068%
The recent notable increase in the Shiba Inu's burning rate has attracted great market attention. According to data provided by Shibburn, the SHIB burn rate skyrocketed by 1,068% and 51,763,782 SHIB tokens were permanently removed from circulation. A total of 2.44 billion tokens were burned in the past week, representing a weekly increase of 10.57%. Recent burn activity represents one of the most significant reductions in daily SHIB supply in recent weeks and demonstrates significant community involvement. As a result, the overall market sentiment towards this meme coin has become more optimistic due to the law of supply and demand. This change in sentiment is further evidenced by SHIB's impressive trading volume, which has surged over 109% in the past 24 hours, reflecting renewed interest from investors.
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