Frequently Asked Questions
What is Qubic?
What?
Qubic is a unique Layer 1 useful Proof of Work (uPoW) crypto platform. Qubic utilizes a previously unseen protocol, the Quorum protocol, for real finality and the fastest Smart Contracts. Additionally, Qubic is capable of combining the power of oracles and smart contracts and has feeless transactions and asset transfers. It leverages computational power for AI training, making proof of work useful.
How?
The Qubic network is powered by 676 computors (validators), which are top-of-the-line hardware machines running the Qubic protocol directly on bare metal for optimal performance. These computors communicate with oracles, execute smart contracts promptly, secure the blockchain, handle feeless transactions and therefore get rewarded in $QUBIC based on their network performance. Computors receive support from miners (which can number in the thousands per computor, and each computor can operate as a pool) to stay in the top of a ranking system. Miners perform AI training to maximize the use of mining energy. While miners themselves do not receive direct payment for their work in AI training, they are rewarded by computors (pool operators) for their AI training tasks based on performance.
What problem does Qubic solve?
Qubic addresses various challenges. Firstly, all transactions on the Qubic protocol are feeless, making it highly user-friendly and appealing for widespread adoption (NFTs, Tokens, DAPPs, etc.).
Additionally, Qubic stands out as one of the few protocols capable of seamlessly combining smart contracts and oracles, enhancing smart contracts by providing them with real-time and real-world data. Each transaction and smart contract execution is final, thanks to Qubic's unique Quorum protocol, which relies on more than a simple majority for every decision.
Furthermore, in the realm of mining, Qubic resolves the issue of energy wastage by directing the computational power towards the training of Artificial Neural Networks (ANNs). This strategic use of computational resources taps into the network's substantial capacity, advancing machine learning and mitigating the environmental impact associated with traditional mining practices.
What is the consensus algorithm for Qubic?
What is the difference between PoW and UPoW?
Where to buy $QUBIC coins?
Can I send my $QUBIC tokens to my EVM wallets like Metamask?
Where can I see the tokenomics for Qubic?
How can I setup/recover a Qubic wallet?
Does Qubic have a iOS/Android wallet?
Where can I monitor the emissions for Qubic?
What is the burn mechanism for Qubic?
Where to check the current total supply of Qubic?