Quantum Blockchain has introduced a new BTC mining algorithm. It will improve the energy efficiency and speed of the present crypto mining gear.
As per the business, it has now moved on to live tests of BTC mining. It will use the usual version of the SHA-256 algorithm. Quantum wants to gather real-time data to strengthen the database of the company.
The first attempt by the firm was labeled Method A. The name assigned to the additional test by the firm is Method B. The implementation of a custom-designed ASIC chip is necessary for the mining methodology.
The Firm Has Confirmed Results Of The BTC Mining Test
Already, theoretical analysis is showing signs of progress. The successful completion of the test will improve the mining theory used in commercial ASIC processors. Still, Quantum emphasizes that actual testing will be done to corroborate the findings.
Quantum also stated that testing on the Quantum implementation of the SHA-256 algorithm is still proceeding. The firm intends to submit a patent application for the improvement. This will be done immediately after the result provides theoretical validation.
Francesco Gardin, the CEO of QBT, explained the firm’s accomplishments in enhancing the current mining gear. Gardin stated that:
“Simultaneously, we are working to enhance conventional ASIC-based cryptocurrency mining chip design. We shall optimize the SHA-256 algorithm. Our Quantum team has accomplished its first proper quantum calculation for a reduced version of SHA-256. Presently, they are scaling to the complete SHA-256.
The UK firm has accomplished a new benchmark on the new algorithm. This was the first time that the SHA-256 provided accurate results.
Integration With Industrially Available Computers
Quantum emphasizes that it will monitor the Qubits in the next release of Quantum computers. This is to ascertain if they can support the SHA-256 calculation. However, the crypto mining firm has noted that this will take two months.
Also, there is no deadline for the monitoring program as the task is usually difficult. In conclusion, the Quantum solution may be an essential milestone for the cryptocurrency industry. This development is true when considering that Bitcoin mining has been under criticism.
Several analysts believe the PoW crypto consumes a large amount of energy. Still, manufacturers have made efforts to upgrade their existing hardware throughout the years. They believe this will reduce the problem of energy consumption.