Qubic (QUBIC): The Future Of Blockchain And AI Training Through Useful Proof-of-Work
What is Qubic (QUBIC)?
Qubic (QUBIC) is an innovative platform designed to transform blockchain technology. The name Qubic comes from the acronym "QBC" a.k.a. "Quorum-Based Computation." Unlike traditional systems, Qubic redirects computational power towards training Artificial Neural Networks (ANNs). This makes the mining process not just secure but also beneficial for AI development. The platform uses a unique Quorum protocol to ensure fast, reliable, and fee-less transactions. It supports applications from smart contracts to decentralised computing power.
Who Created Qubic (QUBIC)?
Qubic was founded by Sergey Ivancheglo (also known as Come-From-Beyond/CFB), a visionary in the blockchain community renowned for creating NXT, the first pure Proof-of-Stake coin, and co-founding IOTA, a pioneering Directed Acyclic Graph (DAG) cryptocurrency. His vision for Qubic is a decentralised, community-driven platform that harnesses computational power for AI training.
How Qubic (QUBIC) Works
Useful Proof-of-Work
Qubic’s uPoW system combines blockchain security with AI advancements by channelling mining energy into training ANNs. This approach secures the network and propels machine learning forward. Miners, instead of solving arbitrary puzzles, focus on tasks assigned by Computors that contribute to the training of AI models. This method not only improves network security but also creates tangible benefits in the form of advanced AI capabilities, making the mining process inherently valuable.
Decentralised Ecosystem
Qubic operates with 676 Computors (validators) managing transactions, executing smart contracts, and securing the network. These Computors ensure stability and security and require a two-thirds majority (451+) to reach consensus. This model ensures that no single entity can dominate the decision-making process for a truly decentralised environment, meaning high performance and resilience as each Computor plays a crucial role in maintaining the integrity of the system.
Community And Long-Term Vision
Qubic adopts a community-driven approach. The platform’s anti-military licence ensures peaceful use, while its open-source nature encourages continuous improvement and innovation driven by a large and active community. This collaborative environment attracts developers and enthusiasts who contribute to the platform's evolution to keep Qubic cutting-edge and adaptable. The community’s involvement aims to maximise transparency and trust, as every change and update is openly reviewed and discussed.
Real-Time Data Integration
Oracle Machines enhance Qubic's smart contracts by providing real-time, trustworthy data from sources like stock prices, sports scores, and sensor readings. This integration makes sure that smart contracts can react to real-world events accurately and promptly. By incorporating external data, Qubic's smart contracts become more versatile and applicable to a wide range of scenarios, from financial services to supply chain management. This seamless integration of real-time data bolsters the platform's reliability and utility to offer a robust choice for various applications.
The QUBIC Token: Energy For The Ecosystem
The QUBIC token acts as the energy unit for executing smart contracts and accessing services with sustainability and benefits for all participants. When smart contracts are executed, they require QUBIC tokens, which are then burned and thus permanently removed from circulation. Additionally, QUBIC tokens are used to access services such as Oracle Machines and AI training and will therefore be burned accordingly. All these processes reduce the overall supply of tokens to boost the value of the remaining tokens.
Each epoch, lasting one week, generates 1 trillion QUBIC tokens that are primarily distributed to Computors based on their performance. Computors earn tokens by efficiently executing tasks and maintaining network stability, while inefficient Computors may have a portion of their rewards burned. This burning mechanism keeps the circulating supply of QUBIC tokens in check. As more smart contracts are executed and more services are used, continuous burning helps offset inflation to create a sustainable economic model.
QUBIC Goes Live on Bitget
Qubic represents a Quantum leap towards efficient and purposeful computational power. By integrating AI training into its core, Qubic sets a new Benchmark in the industry. Join the Qubic community today and become part of a revolution that transforms computational energy into Concrete advancements!
How to Trade QUBIC on Bitget
Listing time: July 01, 2024
Step 1: Go to QUBIC/USDT page
Step 2: Enter the amount and the type of order, then click Buy/Sell
Trade QUBIC on Bitget now!
Disclaimer: The opinions expressed in this article are for informational purposes only. This article does not constitute an endorsement of any of the products and services discussed or investment, financial, or trading advice. Qualified professionals should be consulted prior to making financial decisions.
