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Why does this matter?
If Qubic succeeds, it will definitely set a new standard for many computational and financial systems beyond the crypto industry.
Below, we will cover the details of how Qubic operates and the potential benefits users might gain from it.
What exactly is Qubic (QUBIC)?
Qubic (QUBIC) is a Layer-1 blockchain network looking to make a big impact in the crypto industry by using machine learning to train its own AI (named Aigarth).
This AI is then integrated with its computing system, which relies on so-called Quantum computing.
The Qubic blockchain network has two main components:
- AI Miners: These are AI models trained to solve complex cryptographic puzzles.
- Computers: Referred to as "Computors," are 676 computers dedicated to executing smart contracts and running the network.
In short, what Qubic aims to achieve is to create a blockchain network that is:
- secure for users,
- fast in executing transactions,
- and free from transaction fees.
AI Model within the Proof-of-Work
Here lies a key difference between the traditional Proof-of-Work (PoW) and Useful Proof-of-Work.
Qubic has introduced an AI model within its consensus mechanism to address the problems associated with the Bitcoin model
- high energy costs
- high fees.
In the Bitcoin blockchain network, miners (and their ASIC computers) are trying independently to solve complex cryptographic puzzles to confirm blocks of transactions in the blockchain.
In the Qubic blockchain, the 676 computers do not compete to be the first to solve the cryptographic puzzle."
Instead, the mining job is delegated to AI miners.
To make AI miners more efficient, the computers are constantly feeding them with complex tasks.
In other words, the computers give the AI model tasks which include processing large databases or various cases with frequent problems (which the AI will then "learn" and apply in future scenarios).
Through Useful Proof-of-Work, the protocol directs computing power toward training and developing so-called "Artificial Neural Networks" (or ANNs), thereby enhancing the network's computing capacity for advancing machine learning.
What is the goal here?
The team at Qubic aims to create a scenario where their AI model can gradually grow and evolve to become efficient and ultimately help the network become energy efficient.
If the network ultimately becomes stable, energy-efficient, and fast, it could be applied beyond the blockchain sphere, specifically in applications and software we use for everyday activities.