Quantum Blockchain launches energy-friendly Bitcoin mining algorithms Quantum BlockchainThe company has released a new Bitcoin mining algorithm, which improves existing hardware and provides increased power efficiency.
The corporation announced that it has created two knowledge-based algorithms to manage SHA256 processing. According to the firm, it has moved to live direct tests of bitcoin mining using the conventional version of the SHA-256 algorithm to gather quantum live data to improve the firm’s existing database. Method A was the test that produced the results. The team also created a method B test. A proprietary ASIC chip installation is required to improve Knowledge-based mining strategies. Based on the test results, this new algorithm will improve the bitcoin mining theory used in commercial ASIC chip production. Theoretical progress has already been made, but the quantum experiment’s experimental findings have yet to be verified. Francesco Gardin, QBT’s CEO and Executive Chairman, discussed the company’s success in developing existing mining hardware, saying that while they keep improving the existing model of ASIC chips based on traditional mining by optimizing silicon implementations and SHA-256 Algorithm, their Quantum Computing team has apparently accomplished their first exact quantum calculation of the smaller size version of SHA-256 and is now scaling up to complete SHA-256. The UK-based company claims to have made a significant breakthrough after completing simulations using a quantum version SHA-256. They achieved the same results as the current operating algorithm for the first time. The objective is to monitor the number of Qubits available in the next generation commercial Quantum Computers. These computers will be able support the SHA256 calculations emphasized by Quantum over the next two months. Quantum Blockchain noted that owing to the task’s complexities, there were no exact time constraints when the next results were released. As bitcoin mining is under inspection for power consumption, Quantum’s solution can be regarded and considered an important milestone in the realm of cryptocurrencies. Manufacturers have worked over the years to improve current technology in order to address electricity consumption problems.