Cryptocurrency Pioneer Jeff Garzik Launches NextCypher Productions; Focus On Emerging Technology of Web3 – Deadline

EXCLUSIVE: Cryptocurrency pioneer Jeff Garzik has launched NextCypher Productions (NxC), a new independent entertainment company that will focus on using the emerging technology of Web3 (NFTs, crypto, blockchain applications) to empower the sci-fi community to turn fantasyinto reality.

NxC is more than just a mere production company. It is a passionate community, defined by the people and projects that it interacts with, said Garzik, who is best known as one of the pioneers of cryptocurrency, having worked on the Bitcoin Core project the first blockchain node as well as Bitcoin mining projects and the Linux operating system. One of our core principles is to enable sci-fi and fantasy fans to do more than simply consume content from the worlds we construct, but to allow them to truly participate in beloved properties in ways they never thought possible. Above all, NxC pledges to always put the needs of the audience first as we create consistently great entertainment.

As part of the launch, Garzik is announcing the companys first two television projects. The first is a one-hour action-drama series calledDeathlands thats based on the bestselling book series. Its being developed for television by showrunner/executive producer Mark A. Altman (Pandora, The Librarians, Agent X) and executive producer Thomas P. Vitale (57 Seconds, Slasher, Pandora).

Deathlands isMad Max: Fury RoadmeetsYellowjacketsin an epic post-apocalyptic sci-fi adventure, said Garzik.Deathlandstells the story of a world ravaged by violence, destruction, and death. Now, only the most smart, cunning, and capable survive as they attempt to navigate the new normal of a world turned upside in the hopes of building a new, more just society for the future.

The other project in the works is Looking Glass thats based on an original concept from Garzik. He describes it as an exciting and thought-provoking new sci-fi action/adventure series in which a young woman whose memory was erased goes on a quest to discover her true identity as agridrunnerwho must save the outcasts of society from a deadly conspiracy that threatens to destroy the future.

Looking Glassmade its premiere as a graphic novel through the NxC subsidiaryNext Cypher Words + Art. The new comic book publisher announced the first issue of theLooking Glassgraphic novel at San Diego Comic-Con last week.

NxC will be announcing its next projects soon with production on Deathlands anticipated to begin in early 2023 in Bulgaria and Looking Glass later in the year.

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Cryptocurrency Pioneer Jeff Garzik Launches NextCypher Productions; Focus On Emerging Technology of Web3 - Deadline

5 New cryptocurrency that could list on Binance – Economic Times

Centralized exchange listings can do wonders for a crypto project so finding new cryptocurrency listed on Binance can be a great investment technique.

Throughout this guide, well be taking a look at 5 projects that could be a new cryptocurrency on Binance, before long.

The top 5 new cryptocurrency that could list on Binance

Battle Infinity - Overall best crypto that could list on BinanceBlending fantasy sports, the Metaverse, and play-to-earn, Battle Infinity (IBAT) is one project that deserves to be one of the new cryptos on Binance. Despite currently being in presale, Battle Infinity has managed to raise over $1 million in the two weeks since its release. Furthermore, the project is KYC verified by Coinsniper and audited by Solid Proof eliminating the chance of a rug pull.

Powering the Battle Infinity ecosystem is the BEP-20-based IBAT token. As a BSC-based token, $IBAT is primed to join the list of Binance new crypto listings. The digital asset has a total supply of 10 billion tokens, 28% of which has been reserved for presale investors. The token has a range of uses within the IBAT universe, including rewarding users for gameplay, staking, and advertisements.

While Battle Infinity is yet to join the ranks of new cryptocurrency listed on Binance, it has a high probability of doing so once the project is fully unveiled. Therefore, getting in early on this crypto presale could be the best way to get exposure to new cryptos coming to Binance. Join the IBAT Telegram group in order to find out more.

Visit the IBAT Presale Now

Lucky Block - Exciting crypto project with frequent prize drawsFor Binance to add new cryptos, it would be strange to not at least consider Lucky Block (LBLOCK), the fastest crypto to reach a $1 billion market cap. The project uses blockchain technology in order to create a provably fair and efficient competition platform.

The native Lucky Block token is $LBLOCK. While its currently based on the BEP standard, the token will soon migrate to ERC in order to allow for centralized exchange listings. This migration is due to occur in the near future and could help LBLOCK to make it into the next lot of Binance new crypto listings.

Although LBLOCK hasnt yet become a new cryptocurrency listed on Binance, with the amount of demand for the token, its only a matter of time before the exchange picks up the project.

Visit Lucky Block Now

Woonkly Power - Metasocial network that could list on BinanceWoonkly Power is an exciting new social network that could be the next new cryptocurrency listed on Binance. Its already been enjoying quite some attention on Pancake Swap so it seems only a matter of time before CEX listings begin cropping up.

While Woonkly Power cannot yet claim to be a new crypto coming to Binance US or the global platform, its got a unique concept, a great community, and shows massive promise, meaning it could be the next new cryptocurrency listed on Binance.

DigitalFinancialExch - Insured cross-asset platformThe proprietary token from DigitalFinancialExch is DIFX, a potential new cryptocurrency listed on Binance. While the project is yet to garner widespread attention, it has shown itself to be one of the best cryptos to buy in the crypto winter, leading many investors to snag up some tokens.

With competing exchanges like Crypto.com already showing DigitalFinancialExch some love, it seems to be only a matter of time before the project becomes a new cryptocurrency listed on Binance.

IMOV - Inclusive fitness projectWhen StepN was a new cryptocurrency listed on Binance, the token exploded. Therefore, another project aiming to cash in on the move-to-earn sector could find it easy to get a listing. IMOV is the latest move-to-earn project but it has a difference; a focus on inclusivity.

While IMOV might not yet be a new upcoming cryptocurrency on Binance, the project's well-defined model and focus on inclusivity could help the exchange to consider it.

How to buy IBAT?If Battle Infinity gets listed, it will be the best new cryptocurrency on Binance. Therefore, weve included a guide covering how to buy IBAT.

Step 1 - Register with an ExchangeAs IBAT is a BEP-based token, before buying IBAT an investor must first register with a regulated exchange like eToro.

Cryptoassets are a highly volatile unregulated investment product. No UK or EU investor protection

Step 2 - Deposit and buy BNBAfter registering, click on Deposit Funds, decide how much to invest, and press Deposit. Then, click on the search bar, enter BNB, decide on a number of tokens, and press Open Trade.

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Cryptomus Simplifies The Process Of Cryptocurrency Payments While Maintaining Safety, Transparency And – Bitcoinist

Cryptomus wants everyone to know that accepting cryptocurrency payments is now in fact easier than ever before, as all that is needed to successfully do it is nothing more than a mere email address or phone number. It is even possible to generate payment links without users needing to have their own websites, and they can also connect to API for more functionality. By having such reliable and quick payment processing, Cryptomus is providing a top payment gateway for ecommerce and online payments.

There are several aspects which make Cryptomus a top choice for crypto payments. For starters, their commissions and fees are comparatively much lower than the various other online payment processing companies which accept payments and they start at 0.4% too, depending on the turnover. Additionally, the crypto payment processors services can be smoothly integrated into any type of business or project.

Moreover, one of the most infamous elements associated with crypto is volatility and unpredictable market behavior. With Cryptomus, however, there is no longer any need to worry about crypto volatility as the rate will be fixed after the users accept it and make the conversion to the coin of their choosing. Apart from this autoconversion aspect, Cryptomus also supports a wide range of different cryptocurrencies like LTC, TRX, DASH, ETH, BTC and more.

Blockchains are widely considered to be safer, more stable and transparent than that of traditional financial institutions, such as banks. With Cryptomus, users can even enable the ability to only withdraw to certain authorized addresses in their personal accounts, which means that any withdrawals to other wallets would be prohibited.

Cryptomus has also enabled 2FA (two-factor authentication), which many believe is a vital feature these days due to the increasing number of fraudulent activities, data hacks, and security risks. This 2FA system is completely flexible, and Cryptomus does not require KYC procedures either as it is a technical platform for developers that offers a convenient and user-friendly interface for the purposes of automating work with crypto.

Cryptomus is a crypto payment system and blockchain payment processor/gateway which provides merchant services for businesses that cater to all kinds of customers. Usually, crypto payment gateways are needlessly complex and have too many limitations which often stifle the customers. With Cryptomus, crypto payments can be accepted from anyone anywhere in the world with low transaction fees and without a website. Cryptomus is also useful if individuals just want to have their own secure crypto wallet for fund storage.

The platform offers an intuitive user interface which is optimized for all devices, and there is quick and reliable support available at all times as well. Furthermore, the money is paid instantly and users can easily track the transaction if need be. More importantly though, the platforms features allow for complete anonymity and all incoming funds will only belong to the user and shall never be frozen or refunded for no reason as is often the case with classic e-wallets and banks.

Ultimately, choosing Cryptomus makes sense as it is an innovative crypto payments platform that also functions as a cryptocurrency wallet. The platform offers plenty of value and utility, and the biggest advantage would certainly be the ability to make extremely fast payments easily. Users can accept crypto by generating payment links and then redirecting the payer to them, which will display a convenient form with the required payment data. Users can also utilize the API integration, which Cryptomus will be helping with.

The platform has also witnessed over 100,000 transactions happen to date, with many more expected to occur before long. Regarding future goals, Cryptomus will implement useful widgets for the site, helpful statistics, auto-withdrawal and auto-split functionalities, Telegram notifications, a P2P exchange, input and output of fiat currencies, and so much more in order to become the best cryptocurrency payment gateway. Ultimately, Cryptomus aims to make crypto payments easier and more accessible, which is something that is desperately needed nowadays as the crypto industry continues to become increasingly popular and mainstream with more and more companies accepting crypto.

For additional information and regular updates, visit the official website along with the Twitter and Telegram channels.

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Offshore cryptocurrency exchange obtains clarity from the English High Court on ownership and control of trading account – JD Supra

In HDR v Shulev and Nexo, the High Court considered the entitlement to a cryptocurrency trading account, and the ownership of its contents, as part of stakeholder proceedings brought under CPR 86 by the operator of a cryptocurrency exchange.1

Stakeholder applications (made under CPR 86) are used as a means of determining entitlement to money or goods held by an entity that does not itself have a claim to the money or goods. Among other things, it permits a stakeholder to apply to the court for a direction as to whom it should pay a debt or money to, in circumstances where competing claims are made, or are expected to be made, in respect of that debt or money by two or more persons. Such proceedings are typically brought by financial institutions where multiple claims are made for a sum of money which they hold.

In this case, stakeholder proceedings were commenced by HDR Global Trading Limited ("HDR"), a company incorporated in the Republic of Seychelles, which operates BitMEX, a cryptocurrency-exchange platform, in order to resolve a dispute over the control and ownership of the contents of a cryptocurrency trading account opened in the name of the First Defendant ("Mr Shulev").

The Second Defendant, Nexo Capital Inc. ("Nexo") is a Cayman Islands company, which operates acryptocurrency-backed lending platform, cryptocurrency exchange and wallets. In May 2019, Mr Shulev(co-founder of the Nexo group, and then a director of Nexo), opened an account on BitMEX (the "Account") using his Nexo email address. Thousands of bitcoin were subsequently transferred into the Account from other Nexo accounts, and various futures contracts were traded on the Account. As at the judgment date, the total value of the Account was approximately 30 million. In September 2019, Mr Shulev's appointment as a director was terminated and his access to the Account was withdrawn.

A dispute then arose between Nexo and Mr Shulev as to the ownership of the assets held in the Account. Mr Shulev claimed that he had opened the Account in his personal capacity, and that some of the crypto-assets held there belonged to him. Nexo, however, argued that the Account was opened by Mr Shulev solely in his capacity as a director of Nexo; it was considered by Nexo to be a corporate trading account used for corporate purposes, and it held corporate assets.

In response to the competing claims, HDR froze the Account and in 2020 commenced stakeholder proceedings under CPR 86 against both Mr Shulev and Nexo.

On the day of the hearing of HDR's stakeholder application, Mr Shulev and Nexo entered into a settlement agreement (the "Agreement"), which purported to resolve the question of ownership of the Account. However, almost immediately the parties fell into a further dispute over the Agreement, disagreeing as to whether it had been complied with, and what effect it had on the stakeholder proceedings.2 After discussing with the parties, the Court allowed HDR to exit the proceedings by ordering HDR to hold the balance on the Account as stakeholder and directing it to transfer the balance (after deducting its costs) to such address as the Court ordered.

While His Honour Judge Henshaw ultimately determined that the question of entitlement to the Account and ownership of its contents had already properly been resolved by the Agreement, the judgment contains an interesting discussion as to how English law approaches these issues.

Nexos central claim was that while it was not expressly or fully identified to HDR as the contracting party, it was still entitled to enforce the Account agreement against HDR as an undisclosed principal.3 Under English law, an undisclosed principal may sue and be sued on a contract made by an agent on his behalf, acting within the scope of his actual authority,4 provided that:

(i) in entering into the contract, the agent intends to act on the principal's behalf, and

(ii) the terms of the contract do not, expressly or impliedly, exclude the principals right to sue, and his liability to be sued.

There was no suggestion by either Defendant that point (ii) applied here. HDR's terms of service for the Account expressly envisaged the possibility that an individual might open and operate an account as agent for another entity. Similarly, neither party claimed that opening a crypto-trading account for Nexo on BitMEX was outside the scope of Mr Shulev's actual authority as a director of Nexo.

The main point in issue was factor (i), namely whether Mr Shulev intended to act on Nexo's behalf when opening the Account, or whether he intended to act in his personal capacity.

The High Court ultimately found that the Agreement was valid, and resolved who was entitled to the Account. However, it also held that (if it were wrong with respect to the validity of the Agreement) Nexo would have been entitled to the Account and its contents. This conclusion was based on a number of key findings:

(a) The purpose of setting up the Account appeared to have been to enable Nexo to obtain a better rate than it was receiving on its other corporate accounts;

(b) Deposits into the Account came from other existing Nexo corporate accounts;

(c) The Account was opened using Mr Shulev's Nexo corporate email address, as opposed to any personal or private email address;

(d) Other employees at Nexo had access to the Account and executed transactions on it, whereas there was no evidence of Mr Shulev having executed any transactions on the Account; and

(e) Various communications sent by Mr Shulev were expressed in terms ("we") which suggested that he viewed the Account as a Nexo account rather than a personal account.5

Overall, HHJ Henshaw considered that these factors indicated that "whether judged objectively or subjectively, Mr Shulev intended to open the Account on Nexos behalf and to hold Nexo assets".6 As such, in relation to the Account Mr Shulev owed, and owes, to Nexo the duties of an agent to his principal, including the duty to act on Nexos instructions and to hold the Account and its contents as fiduciary for Nexo.7

With the English courts increasingly considering crypto-asset related disputes, this decision forms part of a developing body of English case law in this fast moving area. It serves as a valuable reminder of the utility of stakeholder applications, including for cryptocurrency exchanges who may need to resolve disputes over account ownership where various competing claims to assets are made.

1[2022] EWHC 1685 (Comm).2 These matters were also considered as part of the judgment, but are beyond the scope of this summary.3In the alternative, Nexo claimed as disclosed but not (fully) identified principal, on the basis that in using his Nexo corporate email address, Mr Shulev represented to HDR that he was opening the Account in his capacity as a director of Nexo. This secondary claim was not considered in the judgment.4Siu Yin Kwan v Eastern Insurance Co Ltd [1994] 2 AC 199, [207].5 [2022] EWHC 1685 (Comm), [103].6 [2022] EWHC 1685 (Comm), [111].7 [2022] EWHC 1685 (Comm), [112].8 See, for example, Tulip Trading Limited v Bitcoin Association for BSV [2022] EWHC 667 (Ch), our analysis of which is available here.

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Cryptocurrency Bitcoin Cash Up More Than 4% In 24 hours – Benzinga

Over the past 24 hours, Bitcoin Cash's BCH/USD price rose 4.29% to $138.28. This continues its positive trend over the past week where it has experienced a 16.0% gain, moving from $119.15 to its current price. As it stands right now, the coin's all-time high is $3,785.82.

The chart below compares the price movement and volatility for Bitcoin Cash over the past 24 hours (left) to its price movement over the past week (right). The gray bands are Bollinger Bands, measuring the volatility for both the daily and weekly price movements. The wider the bands are, or the larger the gray area is at any given moment, the larger the volatility.

The trading volume for the coin has increased 248.0% over the past week while the overall circulating supply of the coin has increased 0.47% to over 19.14 million which makes up an estimated 91.12% of its max supply, which is 21.00 million. The current market cap ranking for BCH is #31 at $2.64 billion.

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Cryptocurrency Bitcoin Cash Up More Than 4% In 24 hours - Benzinga

Do you need to report cryptocurrency on your taxes? Heres what you should know: – RochesterFirst

ROCHESTER, N.Y. (WROC) As cryptocurrency becomes more popular, its important to know whats required of you on tax forms. While some people may see cryptocurrency as a virtual currency, in the eyes of the IRS, its not a true currency.

So what does this mean when it comes to reporting cryptocurrency on tax forms? News 8s Ally Peters spoke with CPA David Young, with the New York State Society of CPAs, to know more.

The IRS has taken a very keen interest in cryptocurrency, so keen that on the front page of your tax return, theyre asking: At any time during 2021, did you receive, sell, exchange, or otherwise dispose of any financial interest in virtual currency? Yes or no?, Young said.

Young says this means if youve transacted with cryptocurrency, you must report it. The IRS considers cryptocurrency to be a property and capital gains and losses should be reported on Schedule D and Form 8949 if necessary.

If you held on to a crypto for more than a year, its a long-term capital gain, and if its less than a year, its a short-term capital gain, which has to be reported on your tax return on your Schedule D, Young said.

Young adds for long-term capital gains, the long-term capital gains rate applies, which varies from 0% to 20%, depending on your ordinary income tax rate. For short-term capital gains, the capital gains from your crypto or Bitcoin transactions are added to your income and taxed at your ordinary income tax rate.

No. If you buy crypto, you do not, Young said. But when you need to report crypto on your taxes is if you were to say you bought crypto a couple of years ago, now you sold the crypto, maybe you sold it, just exchange it, or if you go from one set of crypto to another set of crypto, went from a to b, thats a sale and it does have to be reported on your Schedule D on your tax returns, Young said.

Young said if you dont report crypto on your tax return, its a problem because the IRS is getting a record.

A lot of times the places that hold your crypto, report to the IRS and they should be sending you a 1099 and so the IRS knows you have this crypto. And even if the IRS didnt know it, its still the right thing to do, Young said.

So if you didnt report it in the past, you need to go back and amend, because if you did not, youre setting yourself up for an IRS audit, which means you could have penalties and interest and additional taxes.

Young said a lot of companies will give you the option to go to their portal or website and download everything into a CSV format, which you can put into Excel.

That way you can parse out all your gains and losses, Young said. Now, ultimately, theyre going to give you a 1099, but if you go to their website, many of the larger exchanges will help you as their customer, parse out all your gains and losses. And you can use that spreadsheet or data to prepare your correct income tax return.

To learn more about cryptocurrency and taxes, or to contact a CPA, visit the New York State Society of CPAs website.

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Do you need to report cryptocurrency on your taxes? Heres what you should know: - RochesterFirst

Cryptocurrency prices today: Bitcoin falls to one-week low, other tokens also sink | Mint – Mint

In cryptocurrencies, Bitcoin price today sank to a one-week low on Tuesday, buffeted by nervousness ahead of a looming Federal Reserve interest-rate hike and amid harsher regulatory scrutiny of the cryptocurrency sector. The cryptocurrency continued to linger near the closely watched $21,000-22,000 price level.

The world's largest and most popular cryptocurrency dipped more than 4% to $21,069. The global cryptocurrency market cap today was back above the $1 trillion mark, even as it was down more than 5% in the last 24 hours to $1.01 trillion, as per CoinGecko.

Bitcoin started the week on a lower note. It fell below the $22,000 level on Monday as the sentiment in the crypto market turned bearish. This could be due to the uncertainty over the upcoming Federal Open Market Committees meet up, which can impact the prices in the market. A decisive move below the current level may take BTC to US$19,000. But, if buying interest rises, we may see BTC trading at the US$23,000 level soon," said Edul Patel, CEO and co-founder of crypto investing platform Mudrex.

On the other hand, Ether, the coin linked to the ethereum blockchain and the second largest cryptocurrency, fell more than 7% to $1,418. Meanwhile, dogecoin price today was trading nearly 4% lower at $0.06 whereas Shiba Inu also tumbled over 7% to $0.000010.

Other crypto prices' today performance also declined as XRP, Solana, BNB, Litecoin, Stellar, Chainlink, Tron, Apecoin, Avalanche, Polkadot, Polygon, Tether, Uniswap prices were trading with cuts over the last 24 hours.

Rising interest rates and high-profile meltdowns like that of crypto hedge fund Three Arrows Capital have pummeled digital tokens this year. Bitcoin is down 55% over the period. The turmoil is leading to ever greater regulatory oversight of the industry.

Meanwhile, Coinbase Global Inc is facing a US Securities and Exchange Commission (SEC) probe into whether it improperly let Americans trade digital assets that should have been registered as securities, Bloomberg News reported on Monday. The probe by the SEC's enforcement unit predates the agency's investigation into an alleged insider trading scheme that was revealed last week.

(With inputs from agencies)

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Cryptocurrency prices today: Bitcoin falls to one-week low, other tokens also sink | Mint - Mint

How Cryptocurrency Has Affected Online Casinos – The Coin Republic

Its no secret that the adoption of cryptocurrency has changed virtually every aspect of modern finance. Some industries have been affected more than others, with online casinos using blockchain technology to their advantage. Cryptocurrency can act as another payment method for casino players, making deposits easier than ever.

When you visit most online casinos, the advantages of using cryptocurrency to fund your account become apparent immediately. For example, a variety of online blackjack and slot providers will offer juicy bonuses for any deposit made with Bitcoin or Ethereum. However, there are some other benefits to consider, some of which include:

As long as youve set up your wallet correctly, cold storage devices such as paper wallets and ledgers can be one of the most secure places to keep your funds. These wallets are not connected to the internet, making them incredibly tough to crack.

In addition to this, transactions have to be manually confirmed before they are finalised. Confirmation will often require a unique passphrase or even a code sent to the mobile phone of the asset owner. Without this information, the transaction cannot be published, and no funds will be moved.

On average, transactions on the Ethereum blockchain take between 15 seconds and 5 minutes to finalise. After sufficient confirmations are processed, the funds will arrive at your casino of choice. The available play balance in your casino account should then update immediately, reflecting the deposit and any bonus funds.

Its important to know that there are still fees associated with depositing to an online casino with cryptocurrency. The size of this fee will depend on the blockchain and currency you select. For example, the average cost per transaction with Bitcoin sits at about $0.30, while the same transaction on the Ethereum blockchain will set you back roughly $0.56.

These fees tend to be much lower than what youd expect with traditional deposit methods, such as PayPal or credit/debit cards. The amount you pay for each transaction is also clearly visible before you commit to sending any crypto. With other methods, costs such as currency conversion fees can be a little harder to determine.

For anyone that uses cryptocurrency on a regular basis, you will likely be familiar with the potential drawbacks. However, the two main downsides that affect casino users are:

Before purchasing crypto, people are informed by most exchanges that they are prone to volatility. If you keep your funds within your casino balance for a long time, you can potentially lose value. However, this isnt strictly a negative, as the price movement can also work in your favour.

Once youve confirmed a crypto transaction, there is no way for it to be reversed. This means that if you accidentally send funds to an incorrect address, they cannot be recovered. To combat this, double-check the wallet address before sending any funds. You could also send your cryptocurrency in smaller increments unless you are depositing for a specific casino bonus.

With more and more casinos offering cryptocurrency as a deposit method, its important that punters know a bit about blockchain technology. Of course, its also essential for anyone invested in crypto to understand how their currency affects other industries, including online casinos.

Disclaimer: Any information written in this press release or sponsored post does not constitute investment advice. Thecoinrepublic.com does not, and will not endorse any information on any company or individual on this page. Readers are encouraged to make their own research and make any actions based on their own findings and not from any content written in this press release or sponsored post. Thecoinrepublic.com is and will not be responsible for any damage or loss caused directly or indirectly by the use of any content, product, or service mentioned in this press release or sponsored post.

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Chipotle launches Buy the Dip online game giving customers the chance to score in on over $200K worth of cr – MassLive.com

Chipotle is once again venturing into the world of cryptocurrency and is doing so with a new interactive online game called Buy the Dip, which will give away over $200,000 in different types of crypto for free, in addition to a next-to-nothing cost opportunity for added guacamole and queso blanco with your order.

The game started on the morning of Monday, July 25 and will run daily between 10 a.m. PT and 6 p.m. PT through Sunday, July 31, where players have the chance to win free crypto in the form of Bitcoin, Ethereum, Avalanche, Solana and Dogecoin, according to Chipotle in a news release.

The cryptocurrency can be used to buy food at Chipotle using a Flexa-enabled app, Chipotle said, adding that the Mexican food chain now accepts 98 different digital currencies nationwide to buy real food through a partnership with Flexa, described as the global leader in pure-digital payments by the company.

Chipotle first ventured into crypto in April 2021 when it became the first U.S. restaurant brand to launch a cryptocurrency giveaway via its Burritos or Bitcoin promotion which gave out $100,000 in Bitcoin to celebrate National Burrito Day in addition to $100,000 worth of free burritos, the company said.

Even for players who dont score big in Buy the Dip with crypto, they will have to chance to win and use promo codes for 1-cent guacamole and 1-cent queso blanco through July 31, also known as National Avocado Day, according to Chipotle.

Chipotle is running a promotion in late July tying in cryptocurrency and potential deals for customers. Photo courtesy of Chipotle.

The 1-cent guac promotion will also be extended to all Chipotle Rewards members on July 31, when they can use the digital-only promo code AVO2022 at checkout either on the companys app or website, it added.

Those who wish to play Buy the Dip will need to sign into their Chipotle Rewards account or create one, which they will be prompted to do so on the games website, Chipotle said. If a player wins a prize they will have 15 seconds to claim it or swap it for a different prize. But even if the players comes up empty-handed, there are three chances to win every day the promotion is available, Chipotle added.

In a breakdown of the giveaway totals, Chipotle said between July 25 and July 30 it will give out $10,000 in Bitcoin as well as daily amounts of $5,000 in Ethereum, $1,250 in Solana, $3,000 in Avalanche and $3,000 in Dogecoin, split either in fifths among five players or into twentieths among 20 players.

On Sunday, July 31 the company will offer $35,000 in Bitcoin with $5,000 for five players and $10,000 for one in addition to $5,000 in Ethereum, $12,500 in Solana, $11,250 in Avalanche, and $11,250 in Dogecoin, split among different numbers of recipients for each ranging from five winners to up to 75, according to Chipotle.

In total, more than 500 players will win crypto from July 25 through July 31, Chipotle said.

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Chipotle launches Buy the Dip online game giving customers the chance to score in on over $200K worth of cr - MassLive.com

Central Banks Join the Cryptocurrency Gold Rush – IEEE Spectrum

The two of us, along with many other researchers involved in quantum computing, are trying to move definitively beyond these preliminary demos of QEC so that it can be employed to build useful, large-scale quantum computers. But before describing how we think such error correction can be made practical, we need to first review what makes a quantum computer tick.

Information is physical. This was the mantra of the distinguished IBM researcher Rolf Landauer. Abstract though it may seem, information always involves a physical representation, and the physics matters.

Conventional digital information consists of bits, zeros and ones, which can be represented by classical states of matter, that is, states well described by classical physics. Quantum information, by contrast, involves qubitsquantum bitswhose properties follow the peculiar rules of quantum mechanics.

A classical bit has only two possible values: 0 or 1. A qubit, however, can occupy a superposition of these two information states, taking on characteristics of both. Polarized light provides intuitive examples of superpositions. You could use horizontally polarized light to represent 0 and vertically polarized light to represent 1, but light can also be polarized on an angle and then has both horizontal and vertical components at once. Indeed, one way to represent a qubit is by the polarization of a single photon of light.

These ideas generalize to groups of n bits or qubits: n bits can represent any one of 2n possible values at any moment, while n qubits can include components corresponding to all 2n classical states simultaneously in superposition. These superpositions provide a vast range of possible states for a quantum computer to work with, albeit with limitations on how they can be manipulated and accessed. Superposition of information is a central resource used in quantum processing and, along with other quantum rules, enables powerful new ways to compute.

Researchers are experimenting with many different physical systems to hold and process quantum information, including light, trapped atoms and ions, and solid-state devices based on semiconductors or superconductors. For the purpose of realizing qubits, all these systems follow the same underlying mathematical rules of quantum physics, and all of them are highly sensitive to environmental fluctuations that introduce errors. By contrast, the transistors that handle classical information in modern digital electronics can reliably perform a billion operations per second for decades with a vanishingly small chance of a hardware fault.

Of particular concern is the fact that qubit states can roam over a continuous range of superpositions. Polarized light again provides a good analogy: The angle of linear polarization can take any value from 0 to 180 degrees.

Pictorially, a qubits state can be thought of as an arrow pointing to a location on the surface of a sphere. Known as a Bloch sphere, its north and south poles represent the binary states 0 and 1, respectively, and all other locations on its surface represent possible quantum superpositions of those two states. Noise causes the Bloch arrow to drift around the sphere over time. A conventional computer represents 0 and 1 with physical quantities, such as capacitor voltages, that can be locked near the correct values to suppress this kind of continuous wandering and unwanted bit flips. There is no comparable way to lock the qubits arrow to its correct location on the Bloch sphere.

Early in the 1990s, Landauer and others argued that this difficulty presented a fundamental obstacle to building useful quantum computers. The issue is known as scalability: Although a simple quantum processor performing a few operations on a handful of qubits might be possible, could you scale up the technology to systems that could run lengthy computations on large arrays of qubits? A type of classical computation called analog computing also uses continuous quantities and is suitable for some tasks, but the problem of continuous errors prevents the complexity of such systems from being scaled up. Continuous errors with qubits seemed to doom quantum computers to the same fate.

We now know better. Theoreticians have successfully adapted the theory of error correction for classical digital data to quantum settings. QEC makes scalable quantum processing possible in a way that is impossible for analog computers. To get a sense of how it works, its worthwhile to review how error correction is performed in classical settings.

Simple schemes can deal with errors in classical information. For instance, in the 19th century, ships routinely carried clocks for determining the ships longitude during voyages. A good clock that could keep track of the time in Greenwich, in combination with the suns position in the sky, provided the necessary data. A mistimed clock could lead to dangerous navigational errors, though, so ships often carried at least three of them. Two clocks reading different times could detect when one was at fault, but three were needed to identify which timepiece was faulty and correct it through a majority vote.

The use of multiple clocks is an example of a repetition code: Information is redundantly encoded in multiple physical devices such that a disturbance in one can be identified and corrected.

As you might expect, quantum mechanics adds some major complications when dealing with errors. Two problems in particular might seem to dash any hopes of using a quantum repetition code. The first problem is that measurements fundamentally disturb quantum systems. So if you encoded information on three qubits, for instance, observing them directly to check for errors would ruin them. Like Schrdingers cat when its box is opened, their quantum states would be irrevocably changed, spoiling the very quantum features your computer was intended to exploit.

The second issue is a fundamental result in quantum mechanics called the no-cloning theorem, which tells us it is impossible to make a perfect copy of an unknown quantum state. If you know the exact superposition state of your qubit, there is no problem producing any number of other qubits in the same state. But once a computation is running and you no longer know what state a qubit has evolved to, you cannot manufacture faithful copies of that qubit except by duplicating the entire process up to that point.

Fortunately, you can sidestep both of these obstacles. Well first describe how to evade the measurement problem using the example of a classical three-bit repetition code. You dont actually need to know the state of every individual code bit to identify which one, if any, has flipped. Instead, you ask two questions: Are bits 1 and 2 the same? and Are bits 2 and 3 the same? These are called parity-check questions because two identical bits are said to have even parity, and two unequal bits have odd parity.

The two answers to those questions identify which single bit has flipped, and you can then counterflip that bit to correct the error. You can do all this without ever determining what value each code bit holds. A similar strategy works to correct errors in a quantum system.

Learning the values of the parity checks still requires quantum measurement, but importantly, it does not reveal the underlying quantum information. Additional qubits can be used as disposable resources to obtain the parity values without revealing (and thus without disturbing) the encoded information itself.

Like Schrdingers cat when its box is opened, the quantum states of the qubits you measured would be irrevocably changed, spoiling the very quantum features your computer was intended to exploit.

What about no-cloning? It turns out it is possible to take a qubit whose state is unknown and encode that hidden state in a superposition across multiple qubits in a way that does not clone the original information. This process allows you to record what amounts to a single logical qubit of information across three physical qubits, and you can perform parity checks and corrective steps to protect the logical qubit against noise.

Quantum errors consist of more than just bit-flip errors, though, making this simple three-qubit repetition code unsuitable for protecting against all possible quantum errors. True QEC requires something more. That came in the mid-1990s when Peter Shor (then at AT&T Bell Laboratories, in Murray Hill, N.J.) described an elegant scheme to encode one logical qubit into nine physical qubits by embedding a repetition code inside another code. Shors scheme protects against an arbitrary quantum error on any one of the physical qubits.

Since then, the QEC community has developed many improved encoding schemes, which use fewer physical qubits per logical qubitthe most compact use fiveor enjoy other performance enhancements. Today, the workhorse of large-scale proposals for error correction in quantum computers is called the surface code, developed in the late 1990s by borrowing exotic mathematics from topology and high-energy physics.

It is convenient to think of a quantum computer as being made up of logical qubits and logical gates that sit atop an underlying foundation of physical devices. These physical devices are subject to noise, which creates physical errors that accumulate over time. Periodically, generalized parity measurements (called syndrome measurements) identify the physical errors, and corrections remove them before they cause damage at the logical level.

A quantum computation with QEC then consists of cycles of gates acting on qubits, syndrome measurements, error inference, and corrections. In terms more familiar to engineers, QEC is a form of feedback stabilization that uses indirect measurements to gain just the information needed to correct errors.

QEC is not foolproof, of course. The three-bit repetition code, for example, fails if more than one bit has been flipped. Whats more, the resources and mechanisms that create the encoded quantum states and perform the syndrome measurements are themselves prone to errors. How, then, can a quantum computer perform QEC when all these processes are themselves faulty?

Remarkably, the error-correction cycle can be designed to tolerate errors and faults that occur at every stage, whether in the physical qubits, the physical gates, or even in the very measurements used to infer the existence of errors! Called a fault-tolerant architecture, such a design permits, in principle, error-robust quantum processing even when all the component parts are unreliable.

A long quantum computation will require many cycles of quantum error correction (QEC). Each cycle would consist of gates acting on encoded qubits (performing the computation), followed by syndrome measurements from which errors can be inferred, and corrections. The effectiveness of this QEC feedback loop can be greatly enhanced by including quantum-control techniques (represented by the thick blue outline) to stabilize and optimize each of these processes.

Even in a fault-tolerant architecture, the additional complexity introduces new avenues for failure. The effect of errors is therefore reduced at the logical level only if the underlying physical error rate is not too high. The maximum physical error rate that a specific fault-tolerant architecture can reliably handle is known as its break-even error threshold. If error rates are lower than this threshold, the QEC process tends to suppress errors over the entire cycle. But if error rates exceed the threshold, the added machinery just makes things worse overall.

The theory of fault-tolerant QEC is foundational to every effort to build useful quantum computers because it paves the way to building systems of any size. If QEC is implemented effectively on hardware exceeding certain performance requirements, the effect of errors can be reduced to arbitrarily low levels, enabling the execution of arbitrarily long computations.

At this point, you may be wondering how QEC has evaded the problem of continuous errors, which is fatal for scaling up analog computers. The answer lies in the nature of quantum measurements.

In a typical quantum measurement of a superposition, only a few discrete outcomes are possible, and the physical state changes to match the result that the measurement finds. With the parity-check measurements, this change helps.

Imagine you have a code block of three physical qubits, and one of these qubit states has wandered a little from its ideal state. If you perform a parity measurement, just two results are possible: Most often, the measurement will report the parity state that corresponds to no error, and after the measurement, all three qubits will be in the correct state, whatever it is. Occasionally the measurement will instead indicate the odd parity state, which means an errant qubit is now fully flipped. If so, you can flip that qubit back to restore the desired encoded logical state.

In other words, performing QEC transforms small, continuous errors into infrequent but discrete errors, similar to the errors that arise in digital computers.

Researchers have now demonstrated many of the principles of QEC in the laboratoryfrom the basics of the repetition code through to complex encodings, logical operations on code words, and repeated cycles of measurement and correction. Current estimates of the break-even threshold for quantum hardware place it at about 1 error in 1,000 operations. This level of performance hasnt yet been achieved across all the constituent parts of a QEC scheme, but researchers are getting ever closer, achieving multiqubit logic with rates of fewer than about 5 errors per 1,000 operations. Even so, passing that critical milestone will be the beginning of the story, not the end.

On a system with a physical error rate just below the threshold, QEC would require enormous redundancy to push the logical rate down very far. It becomes much less challenging with a physical rate further below the threshold. So just crossing the error threshold is not sufficientwe need to beat it by a wide margin. How can that be done?

If we take a step back, we can see that the challenge of dealing with errors in quantum computers is one of stabilizing a dynamic system against external disturbances. Although the mathematical rules differ for the quantum system, this is a familiar problem in the discipline of control engineering. And just as control theory can help engineers build robots capable of righting themselves when they stumble, quantum-control engineering can suggest the best ways to implement abstract QEC codes on real physical hardware. Quantum control can minimize the effects of noise and make QEC practical.

In essence, quantum control involves optimizing how you implement all the physical processes used in QECfrom individual logic operations to the way measurements are performed. For example, in a system based on superconducting qubits, a qubit is flipped by irradiating it with a microwave pulse. One approach uses a simple type of pulse to move the qubits state from one pole of the Bloch sphere, along the Greenwich meridian, to precisely the other pole. Errors arise if the pulse is distorted by noise. It turns out that a more complicated pulse, one that takes the qubit on a well-chosen meandering route from pole to pole, can result in less error in the qubits final state under the same noise conditions, even when the new pulse is imperfectly implemented.

One facet of quantum-control engineering involves careful analysis and design of the best pulses for such tasks in a particular imperfect instance of a given system. It is a form of open-loop (measurement-free) control, which complements the closed-loop feedback control used in QEC.

This kind of open-loop control can also change the statistics of the physical-layer errors to better comport with the assumptions of QEC. For example, QEC performance is limited by the worst-case error within a logical block, and individual devices can vary a lot. Reducing that variability is very beneficial. In an experiment our team performed using IBMs publicly accessible machines, we showed that careful pulse optimization reduced the difference between the best-case and worst-case error in a small group of qubits by more than a factor of 10.

Some error processes arise only while carrying out complex algorithms. For instance, crosstalk errors occur on qubits only when their neighbors are being manipulated. Our team has shown that embedding quantum-control techniques into an algorithm can improve its overall success by orders of magnitude. This technique makes QEC protocols much more likely to correctly identify an error in a physical qubit.

For 25 years, QEC researchers have largely focused on mathematical strategies for encoding qubits and efficiently detecting errors in the encoded sets. Only recently have investigators begun to address the thorny question of how best to implement the full QEC feedback loop in real hardware. And while many areas of QEC technology are ripe for improvement, there is also growing awareness in the community that radical new approaches might be possible by marrying QEC and control theory. One way or another, this approach will turn quantum computing into a realityand you can carve that in stone.

This article appears in the July 2022 print issue as Quantum Error Correction at the Threshold.

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