Increasing the Winning Probability
Quantum Blockchain Technologies (QBT), a research company based in the United Kingdom, has developed artificial intelligence-powered algorithms that could significantly increase the mining winning probability of certain ASIC Bitcoin (BTC) miners, according to CEO Francesco Gardin.
Smart Search of Winning Hashes
Gardin explained that QBT has incorporated AI into their technology to enable the smart search of winning hashes as an alternative to conventional random searches. This innovation has been achieved by tapping the expertise of experts in quantum computing, machine learning, cryptography, and algorithm optimization theory.
Improved Performance of ASIC Miners
QBT's machine learning teams have developed two different algorithmic search methods, known as "Method A" and "Method B," which reportedly improve the performance of ASIC miners. Method A increases efficiency by 10%, while Method B increases the probability of finding a winning hash by a staggering 260%.
Short and Long Term Goals
The company has set specific goals for the future. In the short term, QBT aims to increase the mining performance of existing commercial ASIC chips by adding a software AI component to mining rigs. In the long term, they plan to use quantum computers to mine Bitcoin using a SHA-256 computation method specifically designed for quantum computing systems.
Architectural Change to Bitcoin Mining ASIC Chips
QBT recently announced a patent application that outlines an architectural change to Bitcoin mining ASIC chips. This new technology, called QBT Message Scheduling for Cryptographic Hashing ASIC (MSFCA), is able to perform pre-calculations of future BTC blocks before the current block is closed. It reduces the logic gates of SHA-256 ASIC architecture, resulting in lower energy costs and improved efficiency.
Implications for the Bitcoin Mining Industry
Francesco Gardin believes that the Bitcoin mining industry relies heavily on hardware configurations, hashing power, and energy consumption. He stated that current BTC mining methods are based on brute force and luck, lacking any intelligence or strategy. QBT's technologies aim to provide an advantage to any mining rig, regardless of the manufacturer.
Future Plans
While QBT does not plan to open source its patented methods, Gardin mentioned that the company is considering different options to take its solutions to the Bitcoin mining market. This could include subscription services, licensing agreements, forming joint ventures, or even a complete purchase of the company and its associated technologies.
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