Forget What You Know. This is Qubic.
Written by
The Qubic Team
Oct 31, 2024
Forget what you know. Qubic is a decentralised Layer 1 network where unmatched scalable technology meets AI - purpose-built from the ground up to surpass traditional blockchain, with no transaction fees and sub-second finality.
For too long, blockchain technology has been constrained by transaction fees, slow confirmations, and wasted energy. These limitations have shaped what we thought possible - until now.
Qubic is different: a Layer 1 network built to overcome long standing inefficiencies, with feeless transactions, instant finality, and community-driven governance. It represents a rethinking of decentralised technology, backed by a vision from Qubic’s founder, Come-from-Beyond, the creator of the first PoS system (NXT) and the first DAG architecture (IOTA). He continues this legacy with Qubic, introducing innovations like Smart Contract IPOs and the Quorum consensus mechanism, while striving towards the ultimate goal: Artificial General Intelligence.
Turning Energy into Intelligence: Useful Proof of Work
The traditional Proof of Work model has faced widespread criticism for consuming vast amounts of energy without broader purpose. Qubic changes that. By introducing Useful Proof of Work (uPoW), Qubic channels computational power to train Artificial Intelligence (AI). Mining in Qubic contributes to something bigger - Aigarth - an initiative aiming to achieve Artificial General Intelligence (AGI) by 2027.
Qubic Is the Chain That Creates AGI
While centralised systems struggle with the immense computational demands of developing AGI, Aigarth’s decentralised model overcomes these challenges, providing the network with the computational power it needs to evolve. A global network of miners provides the computational power Aigarth needs for Qubic to achieve AGI. This collective effort brings transparency, scalability, and active community involvement. As Aigarth’s capabilities evolve, Qubic will deliver powerful AI applications long before AGI is fully realised. In this approach, AI belongs to no single company or entity; it’s decentralised and supported by Qubic’s network of miners across the globe.
With Aigarth’s evolving self-learning capabilities, Qubic is creating the future of AI and will deliver powerful AI capabilities that can be applied to real-world needs long before AGI is fully realised. The journey to AGI is ongoing, but the impact is already clear. AI belongs to no single company or entity. It’s built and maintained by the collective power of Qubic’s decentralised network.
AGI and Decentralisation
The potential of AGI goes beyond what we can imagine today. Industries will be reshaped, and global systems reimagined. This future won’t be controlled by a few corporations; it will be driven by a community-powered network, ensuring that the future of AI is open, transparent, and available to all.
Qubic is the chain that creates AGI.
A New Kind of Decentralised Network
Qubic’s architecture is designed to create a network where all components work together seamlessly for optimal performance. It overcomes common blockchain challenges, such as high transaction fees, slow confirmation times, and limited scalability, redefining how decentralised networks operate through several key innovations:
Bare Metal Architecture
Traditional blockchains rely on virtual machines or operating systems and process transactions in blocks. Qubic, by contrast, runs directly on bare metal hardware using a tick-based system - short, predictable increments of time to process transactions. This direct interaction with hardware maximises performance and minimises latency, enabling unmatched scalability. As a result, Qubic can handle massive transaction and transfer volumes, and complex operations without bottlenecks, laying the foundation for high-performance decentralised applications (dApps) where speed and efficiency are essential.
Instant Finality
On traditional blockchains, finality—the point when a transaction is confirmed as irreversible—can take minutes, if not hours. Qubic achieves sub-second finality, making transactions nearly instantaneous, a crucial benefit for industries like finance, gaming, and supply chain management where delays can disrupt operations. With instant finality and a fee-free model, Qubic enhances user experience by processing transactions in real-time, enabling seamless operations.
Feeless Transactions
Qubic eliminates transaction costs, opening the door to new business models and economies free from traditional fee-based barriers. In typical blockchain networks, fees often restrict entry and participation, deterring broader adoption. By contrast, Qubic’s feeless model encourages participation and adoption across industries, empowering more users to engage with decentralised networks without cost barriers.
Smart Contract IPOs: A New Model for Smart Contracts
Qubic introduces an innovative model for smart contracts: Smart Contract IPOs. Before launch, Qubic’s smart contracts are introduced through Dutch auctions, where anyone can bid for shares of the contract, creating passive income opportunities. This model offers financial incentives for developers while supporting a fairer, transparent, and market-driven smart contract ecosystem.
With an industry-leading 55 million smart contract execution transfers per second, Qubic’s architecture enables smart contracts to operate with speed and efficiency, supporting applications without delays.
Quorum Consensus: Decentralised Governance
Qubic’s governance relies on its quorum consensus mechanism, known as the Quorum. The Quorum is made up of 676 specialised nodes, called Computors, who validate transactions, execute smart contracts, and secure the network. For consensus to be reached, 451 of these Computors must agree. This prevents centralization and ensures that decisions are made collectively, without any single entity dominating the process.
Qubic’s Quorum design draws inspiration from Leslie Lamport’s Byzantine fault tolerance, ensuring that the network remains secure and operational even when some nodes fail or act maliciously. This allows Qubic to maintain consensus and resist attacks. The principles of Nick Szabo’s decentralised trust provide the foundation for Qubic’s governance, ensuring that no single entity can gain control, keeping the network both secure and decentralised.
Forget Traditional Blockchain. This is Qubic.
Qubic isn’t a traditional blockchain. It’s a decentralised network that brings AI and decentralisation together in ways never seen before. By transforming energy into intelligence and breaking away from the limitations of blockchain, Qubic creates an environment where AI and decentralisation go hand in hand.
Forget what you know about blockchain. This is Qubic - a system that redefines what decentralisation and AI can achieve together.
Power to the Community
Qubic was fair-launched, ensuring that it remains community-driven from day one, with no major VC backing or centralised control. As an open-source project, Qubic invites developers and innovators to help build the future, contributing to a network that’s truly for everyone.
A Call to Innovators
Qubic’s combination of feeless transactions, instant finality, bare metal execution, and AGI development via uPoW makes it a network unlike any other in the blockchain and AI space. If you’re a developer, investor, or visionary who believes in decentralisation and AI, now is the time to join the Qubic network and contribute to the future of AI-powered decentralisation.
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