Overview
What is Qubic?
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.
Why is Qubic？
- Useful Proof of Work
Instead of wasting the energy of our miners, they perform AI tasks for researching solutions for Aigarth.
- Aigarth AI on top of Qubic AigarthAI
Aigarth aims to provide true AI open source to everyone.
- Open source
All development is open source and available on github.
- Oracles
Bridge between the digital blockchain environment and the outside world. They provide real-world data to smart contracts and the Qubic protocol.
- Quorum
Qubic's protocol for true finality, fastest Smart Contracts and decentralisation.
- Fast Smart Contracts
Boasts the fastest Turing-complete smart contracts written in C++, allowing for full utilization of computing power and enabling execution in mere seconds.
- 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.
- Decentralized Applications (DApps)
Supports the creation and deployment of innovative decentralized applications.
- Sub-Second Finality
Qubic achieves sub-second finality for transactions and smart contracts, setting a new standard for speed.
How does Qubic work?
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?
Qubic employs its own unique consensus algorithm known as Quorum. Notably, Qubic does not function as a traditional blockchain, and mining is unnecessary for forming new ticks (blocks). Even if all mining activities would stop, the ticks would continue without interruption. However, the absence of mining would pose challenges in determining the best-performing computers for the next epoch.
To create the next tick, there is a tick leader that broadcasts a proposed new tick. The 676 computors send cryptographically signed votes that include hashes of all the internal state of the qubic network. Two thirds needs to vote with a majority of the quorum in agreement for the tick to be accepted. If the tick leader does not publish a proposed new tick, then we would get an empty tick. In this case the tick data is all zeroes and the hash also all zeroes. There still needs to be a quorum vote about the empty tick.
If a quorum is not reached, Qubic stops ticking. The ongoing ticking indicates that a majority of the quorum vote from computors is fully synchronized, down to every last bit of the Qubic network's state. The computors however need mining in order to keep their computor spots. So qubic mining is not about generating the next block, but rather to help their computor keep (win) one of the coveted computor spots. Only the 676 computors get any rewards. Every Epoch Candidates can compete with the help of miners against the Computors to win one oft he 676 spots. and each epoch not more than 225 computors can lose their status. Every epoch there is a maximum of 1 trillion $QUBIC sent out to the 676 computors, with a discount based on their performance.
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