What is Qubic Network? Qubic Network is a blockchain that combines the capabilities of Smart Contracts and scalable AI solutions. The pioneering project introduces unique features such as frictionless microtransactions, using energy as a medium of transaction (Qubic Units or QUs).
So what’s special about Qubic Network? Let’s find out with HAK Research in this article.
Overview of Qubic Network
What is Qubic Network?
Qubic Network is Qubic is a pioneering project that combines the capabilities of Distributed Ledger Technology and Smart Contracts with scalable AI solutions. The project introduces unique features such as frictionless microtransactions, using energy as a means of transaction (Qubic Units or QUs).
Qubic Network makes decisions based on a decentralized quorum. With its innovative use of Epoch-based processing and Decentralized Exchange, Qubic paves the way for a new era of computing and finance.
What is Qubic Network?
Qubic Network’s operating mechanism
Qubic Network uses Useful Proof of Work (UPoW) mechanism and applies AI artificial intelligence in the ecosystem. Proof of Work is essentially a competitive puzzle or algorithm solving process between computers.
The project team announced a breakthrough on traditional Proof of Work by integrating AI training as a means to achieve similar consensus to create a new consensus mechanism. Here, Validators, also known as computers supported by AI Miners, use AI models to solve complex tasks instead of regular mathematical puzzles or puzzles.such as processing large data sets. This paradigm shift ensures that the work Validators do not only maintains cybersecurity but also contributes to the creation of real-world applications and services.
In the UPoW protocol, the ranking of Validators depends on the efficiency of AI miners in solving problems. UPoW does not simply validate transactions or create new Blocks, but also establishes a ranking of Validators for each epoch (Epoch-based), with a period of 1 week.
Features of Qubic Network
Qubic Network’s services include:
- AI Traiding Service: Open up opportunities to participate in Qubic AI training with user-friendly tools. Along with that is enjoying valuable token rewards issued by the network.
- Entrusted service: Qubic Network has an OTC escrow service. The project acts as a neutral third party, protecting users’ assets ensuring all conditions in the agreement stand.
- Block Explorer: Stay updated on network status, transaction volume, and overall activity (https://app.qubic.li/network/explorer ).
- Governance: Qubic Network operates according to a democratic model. Every member of the community can propose and thereby decide to vote on updates and changes.
- Smart Contracts: Extend the capabilities of dApps such as DEX, integrating with real-world data using network oracles.
- IPO (Soon): Similar to Launch Pads and Pre-Sale on platforms that raise capital from users.
Development Roadmap
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Core Team
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Investor
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Tokenomics
Basic information about QUBIC token
- Token name: Qubic Network
- Ticker: QUBIC
- Blockchain: Qubic Network
- Standard: Native token
- Total Supply: 1000,000,000,000,000 QUBIC
Token Allocation
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Token Release
Each epoch (Epoch-based) lasts 7 days and generates 1,000,000,000,000 QUBIC. However, Miners only receive 0.147% of this number. The remaining amount will be burned and reside in Qubic’s ecosystem, responsible for resolving disputes and protecting users’ interests.
By 2041, the Burn rate will equal or surpass the emission rate, creating a plateau in the growth of circulating coins. Despite this, Miners are guaranteed their rewards forever.
According to the team’s announcement, if there are 999,000,000,000,000 QUBIC circulating in the market, then 1,000,000,000,000 QUBIC will be burned weekly as network execution fees, ensuring stable revenue generation.
Token Use Cases
- Pay transaction gas fee.
- Rewards for miners or Validators participating in transaction validation and network security.
- Participate in IPO and trading on Qubic Network’s Dex and dApp.
- Participate in voting, proposals, and administration on the network.
Exchanges
Currently, QUBIC is only present on the TradeOgre trading floor.
Qubic Network’s Information Channel
- Website: https://web.qubic.li/
- Twitter: https://twitter.com/_qubic_
- Discord:
Summary
Qubic Network is an innovative Proof of Work cryptocurrency platform that uses AI for mining and decision-making based on decentralized delegates. At the end of 2023, the AI field is very hot and is gradually becoming a trend in the Crypto market. In addition, the event BTC having is approaching in April next year. These may be two key factors that give QUBIC growth momentum in the near future.
