Tallinn, Estonia, 28th March 2024, ZEX PR WIRE, Qubic embarks on a transformative journey to empower global innovation with the potential of True AI. Embracing its vision, Qubic leverages an expansive computing network to redefine the landscape of artificial intelligence, moving beyond the traditional Proof-of-Work process to introduce a useful-Proof-of-Work (uPoW) concept. This innovation ensures that every computational effort directly contributes to AI development. At the heart of Qubic’s efforts is Aigarth, an advanced AI system that symbolizes the platform’s goal to grant universal access to the most sophisticated AI capabilities available. Aigarth analyzes data from AI miners to construct billions of neural networks, thereby mimicking the complexity of a human brain.
In alignment with its mission to establish the premier open-source AI infrastructure, Qubic functions as a unique decentralized network governed by Quorum consensus described by Nick Szabo. Qubic Network is run by 676 validators, called ‘computers’. These roles range from executing smart contracts and ensuring network security to managing feeless transactions. Through this robust infrastructure, Qubic not only facilitates smart contract executions with exceptional efficiency but also boasts the ability to process more than 40 million transfers per second (TPS) on the smart contract level. This remarkable capacity stands as a testament to Qubic’s dedication to creating a high-performance computational AI network that acts as the foundational support for True AI development, providing swift, secure, and scalable solutions for AI integration.
A standout feature of Qubic’s platform is its novel approach to Initial Public Offerings, known as Qubic IPOs, which draws inspiration from the auction-based IPO method first introduced by Google. Unlike traditional fundraising, Qubic IPOs allow users to invest directly in smart contracts, becoming stakeholders in the technology itself. This novel approach democratizes investment in blockchain technology, offering participants a direct share in the success of groundbreaking projects. The platform’s take on Initial Public Offerings results in each smart contract in the Qubic network getting an IPO for its 676 shares. Qubic users can fund a smart contract by purchasing one of these shares.
The $QUBIC coins used to fund a smart contract are locked up and burned, reducing the coin’s circulating supply and covering the contract’s execution costs. Users funding a smart contract become shareholders and earn passive income from contract fees. The contract is self-sustaining until the locked $QUBIC is depleted. At this stage, a portion of the shareholder fees funds further execution. It’s worth noting that the first three smart contracts executed on Qubic burned over 10.5 trillion $QUBIC of the capped circulating supply of 1,000 trillion coins.
Qubic’s founder, Sergey Ivancheglo, also known as CFB, recently commented on the software’s efficiency:
“The program gauging functional power of the new #Qubic mining algo used by #Aigarth for #AI training has just finished its computations. “Terrific” in all its meanings suits the best to explain the result. I’ve never seen such a powerful yet very simple construction of an #ANN!”
About Qubic
Qubic is a community-driven project, entirely open source and under anti-military license. It was founded by Sergey Ivancheglo, also known as Come-from-Beyond, the creator and co-creator of the first full PoS & DAG protocol (NXT & IOTA). The platform launched its mainnet in Q2 of 2022 and has grown a loyal community of over 88,000 members and over 500,000 miners.
Qubic comes from the acronym “QBC,” which stands for “Quorum-Based Computor.” The platform stays true to this term by providing fair, consensually-reached smart contract execution, ensuring only useful and legitimate contracts are added to the network. One of the standout features that could lead to its mainstream adoption is the fact that all transactions on the Qubic protocol are feeless. Also, the votes from 451 Computors (The Quorum) are reliable for offline payment verification. Ultimately, quorum-based computations, cost-effective transfers, and record-breaking TPS speeds enable participants to enjoy a lucrative and user-friendly experience.
You can learn more about Qubic by following these links:
Official Website | Telegram | X (Twitter) | Discord | LinkedIn | YouTube
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