1 year ago
In a notable breakthrough successful Bitcoin mining, UK-based Quantum Blockchain Technologies (QBT) has developed a highly promising computing method, the Message Scheduling For Cryptographic Hashing (MSFCA), designed to marque Bitcoin mining importantly much efficient.
The CEO of QBT, Francesco Gardin, defined MSFCA, successful its July patent application, arsenic a “radical change” that disrupts the “fundamental BTC blockchain paradigm.”
“The caller conception down this thought disrupts, nether peculiar conditions, a cardinal BTC blockchain paradigm; computation for aboriginal blocks tin instrumentality spot earlier the erstwhile artifact is mined. This is rather a extremist alteration of the paradigm.”
As reported successful a caller interrogation with CoinTelegraph, Gardin asserted that the firm’s innovative technology, backed by artificial intelligence, perchance offers a 260% summation successful mining reward probability.
Bitcoin mining, the process of solving analyzable mathematical problems to adhd a caller artifact of transactions to the Bitcoin blockchain, faces the constraint that each caller artifact cannot beryllium attempted until the existent 1 is completed.
The caller MSFCA method, for which QBT submitted a patent exertion successful the UK successful July of this year, breaks this sequential barrier. It allows miners to execute preliminary calculations for the adjacent artifact adjacent earlier the existent 1 is afloat processed, reducing the request for computational resources and vigor costs.
With a unsocial asynchronous approach, the MSFCA doesn’t velocity up the SHA-256 calculations progressive successful Bitcoin mining. Instead, it facilitates pre-processing oregon precocious computation, enabling much SHA-256 calculations connected the aforesaid chip, frankincense accelerating the wide mining process. The implementation of MSFCA requires ASIC machine chips utilized successful modular Bitcoin mining machines. However, QBT believes “a feasible modification of the existent SHA-256 proprietary implementation being developed by QBT” is achievable.
According to the company’s estimates, the utilization of MSFCA could shrink the country of the ASIC spot utilized by astir 8%, thereby reducing the abstraction required for the logical gates performing the calculations. The patent exertion states,
“In presumption of SHA-256 ASIC spot areas, the projected imaginable redeeming would beryllium successful the portion of 25% for 1 lawsuit of SHA256 retired of the 3 instances progressive successful Bitcoin mining.
However, due to the fact that of different well-known optimisation techniques, the effectual imaginable country redeeming of MSFCA is estimated by the Company’s ASIC decorator to beryllium astir 8% connected average.”
QBT’s CEO, Francesco Gardin, successful his interrogation with CoinTelegraph, emphasized that this disruptive method could revolutionize Bitcoin mining by allowing calculations for aboriginal blocks adjacent earlier the erstwhile ones are mined.
Earlier this year, the institution hired Dr. Lov Kumar Grover, known for creating the groundbreaking ‘Grover’s Algorithm astatine AT&T Bell Labs; Dr. Grover is expected to bring invaluable insights to QBT’s quantum mentation of the SHA-256 algorithm.
Grover’s algorithm is simply a quantum computing algorithm that tin find a circumstantial point successful an unsorted database with the astir quadrate basal of the full fig of items operations, providing a important speedup implicit classical hunt algorithms.
This algorithm stands cardinal to Bitcoin mining, and with Dr. Grover’s heavy knowing of quantum mentation and optimization, the institution is progressively optimistic astir refining its algorithm.
Despite existing technological limitations specified arsenic representation spot throughput, QBT’s caller method, if successful, promises to beryllium a game-changer for Bitcoin mining.
Gardin besides told CoinTelegraph that it is besides exploring avenues, including subscription, licensing, associated ventures, oregon outright acquisition of the institution and its technologies, to bring their solutions to the Bitcoin mining market.
The station AI mining method for Bitcoin rockets reward accidental by 260% appeared archetypal connected CryptoSlate.
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