Introducing Qubic: The Future of Crypto Platforms
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Get ready to dive into Qubic, an innovative crypto platform that's changing the game. Founded by Sergey Ivancheglo, the mastermind behind IOTA and NXT, Qubic is revolutionizing the world of cryptocurrency with its quorum-based computer (QBC) system.
At its core, Qubic is powered by 676 Computors responsible for executing smart contracts. The platform ensures reliability by requiring a Quorum of ⅔+ (or 451+) Computors to reach the same result before considering it final. Unlike traditional crypto platforms that consume massive amounts of energy for mining, Qubic boasts a Useful Proof-of-Work system that leverages mining capacities for AI training.
In addition to Computors, Qubic features Candidates, who contribute to AI training without receiving compensation. A weekly ranking, or "epoch," determines the top 451 performing Computors, who maintain their status while the remaining spots are filled from the pool of Candidates and lower-ranking Computors.
Each epoch generates 1 trillion Qubic Units (QUs) to be distributed primarily among Computors. Inefficient Computors and Miners have a portion of their rewards burned, while the remainder goes to the Arbitrator. Notably, the Arbitrator's role is limited to managing AI training tasks and has no influence over smart contracts, voting, or qus distribution.
Qubic sets itself apart with feeless transfers, a rarity among crypto platforms. While executing smart contracts typically incurs a commission, Computors vote by quorum to set the commission size, which is then burned to regulate inflation and deflation.
Thanks to Qubic's direct "bare metal" code execution, it boasts the fastest Turing-complete smart contracts written in C++. As opposed to virtual machine-based platforms, Qubic's approach allows for full utilization of computing power, enabling smart contract execution in mere seconds.
In essence, Qubic combines the best features of existing platforms and eliminates their limitations, making it an ideal choice for those seeking a reliable, efficient, and user-friendly crypto platform.