Quantum Blockchain Technologies (QBT), a UK-based research company, has developed artificial intelligence (AI)-powered algorithms that could significantly increase the probability of winning mining for certain ASIC Bitcoin (BTC) miners, according to CEO Francesco Gardin. In an interview with Cointelegraph, Gardin explained how QBT has incorporated AI to enable smart hash searches as an alternative to conventional random searches.
Over the past two years, QBT has developed several patented methods by leveraging the expertise of experts in quantum computing, machine learning, cryptography, ASIC chip design, and algorithm optimization theory.
QBT’s machine learning teams have created two different algorithmic search methods that reportedly improve the performance of ASIC miners. “Method A” enhances miner efficiency by 10%, while “Method B” increases the probability of finding a winning hash by 260%.
Gardin revealed that the company is focusing on three specific areas. First, they aim to enhance the mining performance of existing commercial ASIC chips by adding a software AI component running on a mining rig. Additionally, QBT’s team is designing a new architecture for ASIC mining chips to optimize Bitcoin mining, as detailed in a recent patent application.
Furthermore, QBT has a long-term goal of using quantum computers to mine Bitcoin through an in-development SHA-256 computation method that can operate on quantum computing systems. In July 2023, the company filed a patent application outlining an architectural change to Bitcoin mining ASIC chips, which it claims pre-processes data used by future blocks on the Bitcoin blockchain.
One of QBT’s innovations, the QBT Message Scheduling for Cryptographic Hashing ASIC (MSFCA), allows for pre-calculations of future BTC blocks before the current block is closed. This “anticipatory resource efficiency algorithm” reduces the logic gates of SHA-256 ASIC architecture, enabling miners to use fewer logic gates, leading to lower energy costs and improved efficiency of ASIC mining hardware.
QBT estimates that miners could free up to 8% of logic gates in SHA-256 ASIC chips by pre-processing data used by future blocks. By eliminating certain logic gates involved in the computation, energy consumption can be reduced.
Gardin discussed the potential impact of these new methods on the Bitcoin mining industry. He emphasized that BTC mining relies heavily on hardware configurations, hashing power, and energy expenditure. While current mining methods are based on brute force and luck, QBT’s technology offers a strategic advantage through AI and SHA-256 optimization.
According to Gardin, QBT’s technology can provide benefits to any mining rig, as it was mainly developed using Intel’s Blockscale ASIC chips. The company is currently exploring different options to bring its solutions to the Bitcoin mining market, including subscription, licensing, forming a joint venture, or being acquired.
QBT’s innovations have the potential to revolutionize the Bitcoin mining industry by improving efficiency, reducing energy consumption, and increasing the probability of finding winning hashes. As the company continues to develop its AI-powered algorithms, the future of Bitcoin mining looks promising with these advancements in technology.
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