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Bitcoin App That Allows Transferring BTC Through Social Medias Gets $2M More Investment

  • Denis Sinyavskiy
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    The Newcastle Tech company Block Matrix received 2 million investment for app development, which allows sending Bitcoin through accounts in social networks

Bitcoin App That Allows Transferring BTC Through Social Medias Gets $2M More Investment
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The British company Block Matrix, which developed an application that allows you to send Bitcoin (BTC) using an account on social networks, received an investment of $2 million for the further app development, Netimesmagazine reported.

Bitcoin payments simple as never

Bottle Pay is an application developed by Block Matrix, allows to transfer Bitcoin through a social network account, while it’s not necessary to have a registered account in the application itself.

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The proceeds from British investors will go to expand the company's staff, as well as develop and improve the application in the coming year. Part of the funds is planned to be spent on commercial and marketing. One of the purposes of the development is the use of Bottle Pay by retailers and businesses.

A big thing for BTC

The Matrix block is located in Newcastle Quayside, its founder Pete Cheyne sets high goals and hopes that Botte Pay will allow Bitcoin to be used even by people not familiar with the cryptocurrency industry:

“We are trying to break down the barriers to allow everyone to use Bitcoin.”

Mr Cheyne hopes to increase the number of users from 11 000 to 100 000 users the next year, which will attract even more investment to develop the application.

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About the author

Starting with a simple interest in cryptocurrency, over the past two years, Denis has worked in a cryptocurrency fund and become an author with an analytical bias. His engineering degree helps with the analysis of the technical part of the cryptocurrency market. As a fan of cryptocurrency, Denis believes that the blockchain technology is the future.

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Bitcoin in Danger as New Research Shows Google Has Achieved Breakthrough in Quantum Computing

  • Alex Dovbnya
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    Google's quantum computer is still too primitive to pose a threat for Bitcoin's cryptography, but things could escalate quickly

Bitcoin in Danger as New Research Shows Google Has Achieved Breakthrough in Quantum Computing
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Contents

According to a new research paper published in science journal Nature, Google's quantum computer is able to perform calculations in just three minutes. To put this into perspective, it would take the fastest supercomputer about 10,000 years to perform the same operation, which signifies a major tech milestone for the search behemoth. 

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Google achieves "quantum supremacy"

Back in September, the Financial Times reported that Google has managed to achieve "quantum supremacy," which means that its beast is able to perform calculations that would be impossible to pull off with any other computer. 

However, technology is still way too fragile for commercialization, which is unlikely to happen anytime soon. There is hardly any practical application for quantum computers, but they do have great potential for disrupting a lot of industries, such as finance and transportation.   

Considering that the Trump administration has funneled a whopping $1.2 bln into the development of quantum computing, it might stop being just a buzz word. 

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Will Google's quantum success affect Bitcoin

There is also one notable application for quantum computing -- hacking Bitcoin. The headlines about Google's super-powerful juggernaut has made many wonder whether Bitcoin, whose value derives from the immutability of its Blockchain, is in danger. 

However, ex-Bitcoin Core developer Peter Todd reassured the confused crypto crowd that Google was nowhere near breaking the top coin's cryptography. On top of that, it's not even clear whether quantum computers could potentially be scalable enough for commercial use. 

Bitcoin evangelist Andreas Antonopoulos also opined that Google's quantum breakthrough would have no impact on the orange coin. 

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About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with an extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets.

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