Source: Qubic

Last month, Qubic, an extreme performance underlying project based on a new architecture, completed the transformation of its token economic model. Interestingly, this was not done through a fork or other means to transform the underlying code. Instead, it was achieved through its unique consensus mechanism and smart contracts. This shows the power and flexibility of its architectural design.

The original total amount was 1000T, with 1T produced per week. Due to the strong demands of the community and miners, we discussed and finally decided to adjust the total amount to 200T, and adopted the Bitcoin halving mechanism. All adjustments are implemented based on smart contracts.

It is very exciting that according to the social media of its founder CFB, it will soon complete another interesting smart contract, which will allow the community to flexibly allocate the computing power of the entire network through voting and put it into the market for sale. The funds from the sale will be used to publicly repurchase Qubic tokens in the market. According to public data, Qubic has the sixth largest collective computing power in the world, with a total computing power of 7.6 million it/s. If half of the computing power is used for sale, it will earn 20 million US dollars per month.

Qubic is a decentralized open source POW project initiated by CFB, a creative genius with strong engineering implementation capabilities, in early 2022. Its design takes into account the ecological development of the future AI world. Unlike other blockchain projects, it is a newly designed architecture, neither blockchain nor DAG. Let’s call it Block-tick for now. It truly solves the blockchain impossible triangle problem and lays the foundation for the large-scale popularization of industry applications.

Here are some highlights of Qubic:

•The new consensus mechanism quorum is composed of 676 computers, connected to hundreds of thousands of mining machines. All matters will be proposed and decided by the community through voting.

• Sub-second confirmation

• Offline payment

•0 handling fee, whether it is qubic tokens or its ecological tokens, they can be freely transferred for free. Its decentralized exchange smart contract supports free order placement and withdrawal. And it can airdrop millions of addresses for free in seconds

• Brand new smart contracts, running on bare metal, without OS. This design results in extreme security and performance. Recently, the performance of the test in the real environment of the main network has reached 55 million transfers per second, and theoretically it can reach hundreds of millions (non-TPS, smart contract performance, refer to https://qubic.org/blog-detail/qubic-achieves-over-55-million-transfers-per-second-for-smart-contract-executions)

•TPS can theoretically reach millions, but currently it is in the thousands

•Oracle

•True decentralized random number

•Aigarth, an AI project built on top, aims to achieve AGI, and is not LLM oriented.

At present, except for Aigarth, which is still in smooth progress, the other ones have basically been realized. The infrastructure and developer environment are also gradually improving. In addition, the community has proposed to set up a fund to fully encourage and support the development of ecological projects. Currently, about 30 projects have signed up for the first batch of grants.

Qubic project official website

This article is contributed by a contributor and does not necessarily represent the views of BlockBeats.

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