Tallinn, Estonia, March 28, 2024 (GLOBE NEWSWIRE) — Qubic is embarking on a transformative journey to empower global innovation with the potential of true AI. Embracing his vision, Qubic leverages a vast computing network to redefine the artificial intelligence landscape, moving beyond the traditional proof-of-work process to introduce a concept of useful proof-of-work (uPoW). This innovation ensures that every computing effort directly contributes to the development of AI. At the heart of Qubic’s efforts is Aigarth, an advanced AI system that symbolizes the platform’s goal of granting universal access to the most sophisticated AI capabilities available. Aigarth analyzes data from AI miners to build billions of neural networks, mimicking the complexity of a human brain.
In line with its mission to establish the first open source AI infrastructure, Qubic operates as a unique decentralized network governed by the Quorum consensus. described by Nick Szabo. Qubic Network is managed by 676 validators, called “computers”. These roles range from executing smart contracts to ensuring network security to managing smooth transactions. With this robust infrastructure, Qubic not only facilitates the execution of smart contracts with exceptional efficiency, but also has the capacity to process over 40 million transfers per second (TPS) at the smart contract level. This remarkable capability demonstrates Qubic’s commitment to creating a high-performance computing AI network that forms the fundamental support for the development of true AI, providing fast, secure and scalable solutions for AI integration.
A notable 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 introduced for the first time by Google. Unlike traditional fundraising, Qubic IPOs allow users to invest directly in smart contracts, becoming stakeholders in the technology itself. This innovative approach democratizes investment in blockchain technology, offering participants a direct share in the success of revolutionary projects. The platform’s IPO strategy allows each smart contract on the Qubic network to obtain an IPO for its 676 shares. Qubic users can fund a smart contract by purchasing one of these shares.
$QUBIC coins used to fund a smart contract are locked and burned, thereby reducing the circulating supply of the coin and covering the costs of fulfilling the contract. Users funding a smart contract become shareholders and earn passive income from contract fees. The contract is self-sustaining until the locked $QUBIC is exhausted. At this point, a portion of shareholder fees funds continued execution. It is worth noting that the first three smart contracts executed on Qubic burned over $10.5 trillion QUBIC out of the capped circulating supply of 1 trillion coins.
Qubic founder Sergey Ivancheglo, also known as CFB, recently commented on the effectiveness of the software:
“The program evaluating the functional power of the new #Qubic mining algorithm used by #Aigarth for #AI training has just completed its calculations. “Terrific” in any sense is best suited to explain the result. I have never seen such a powerful and yet very simple #ANN construction! »
About Qubic
Qubic is a community project, completely open source and under anti-military license. It was founded by Sergei Ivancheglo, also known as Come-from-Beyond, creator and co-creator of the first complete PoS & DAG protocol (NXT & IOTA). The platform launched its mainnet in Q2 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 and consensual smart contract execution, ensuring that only useful and legitimate contracts are added to the network. One of the most notable features that could lead to its widespread adoption is the fact that all transactions on the Qubic protocol are seamless. Additionally, votes from 451 computers (the Quorum) are trusted for offline payment verification. Ultimately, quorum-based calculations, cost-effective transfers, and record-breaking TPS speeds allow participants to enjoy a lucrative and user-friendly experience.
You can find out more about Qubic by following these links:
Official site | Telegram | X (Twitter) | Discord | LinkedIn | Youtube
Send an email to Qubic at af@qubic.org
Disclaimer: This content is for informational purposes only and does not constitute an offer to sell or a solicitation of an offer to buy any securities of Qubic or any related entity. Qubic IPOs are not available to persons in the United States or any jurisdiction where such participation would be illegal. Potential participants should consult legal, financial and tax advisors before engaging in any of Qubic’s offerings. This document may contain forward-looking statements that are subject to risks and uncertainties that could cause actual results to differ.
