Get ready to dive into Qubic, an innovative useful-Proof-of-Work crypto platform that's changing the game. The name "Qubic" comes from the acronym "QBC" which stands for "Quorum-Based Computation"
Community & Founder
Qubic is a community-driven project, completely open source and under anti-military license. Qubic is founded by Sergey Ivancheglo AKA Come-From-Beyond, the creator and co-creator of the first full PoS & DAG protocol (NXT & IOTA).
Qubic's Smart Contracts differ significantly from others. Each contract must pass a Quorum proposal vote, ensuring only useful and legitimate contracts are added. When a Smart Contract is accepted, it's launched via an IPO with 676 shares. The $QUBIC spent on these shares is locked into the Smart Contract, reducing $QUBIC's circulating supply and paying for contract execution. Shareholders earn passive income from contract fees. The contract is self-sustaining until the locked $QUBIC is depleted, after which a portion of shareholder fees funds further execution. The first three Smart Contracts alone burned over 10.5 trillion $QUBIC.
The Quorum Protocol
The Quorum protocol operates with 676 Computors (Validators) handling transactions, executing smart contracts, securing the blockchain, and liaising with Oracle Machines. It ensures finality and reliability by requiring over two-thirds (451+) of Computors to agree on a result. Qubic achieves this with an average block-time of 7 seconds, thanks to its efficient "bare metal" code execution. Previously, Qubic had a block-time of 0.2 seconds and plans to return to sub-second block-times after scheduled Computor-Node upgrades in Q2, Q3, and Q4 of 2024.
Oracle Machines will be used to make Qubic Smart Contracts even Smarter by resolving events through trustworthy data such as stock prices, sports scores, or sensor readings and much more. Also Oracles will give Aigarth ability to observe the outer world and Outsourced Computations.
Aigarth is an AI-software running on top of Qubic that get it´s information from nearly hundred thousand (number is rapidly increasing) of Qubic-AI-miners which are creating billions artificial neural networks (ANNs) with their computational power.
The goal is to create an open source true AI public available for everyone.
Unlike traditional Proof-of-Work platforms that consume massive amounts of energy for mining, Qubic boasts a useful-Proof-of-Work system that leverages mining capacities for AI training.
Feeless Transactions & offline payment verification
Qubic is one of the few layer 1 which doesn't charge for making value transfers.
Finality ensures that votes from 451 Computors (The Quorum) are reliable for offline payment verification.