The development of blockchain technology is advancing at a daunting pace, bringing innovations with the potential to revolutionize the cryptocurrency industry. One such pioneer is the British research company Quantum Blockchain Technologies (QBT), which has introduced an innovative approach to Bitcoin mining.
Quantum Blockchain Technologies (QBT) from the UK has presented a groundbreaking discovery in Bitcoin mining technology. The company claims that thanks to its innovative methods, the chances of quickly extracting the “winning” hash have significantly increased. One such method, called “Method B”, increases these chances by as much as 260% compared to traditional techniques, while simultaneously reducing energy consumption by 4.3%.
For over two years, QBT has been analyzing the BTC mining processes and the complex SHA256 algorithm. They argue that their breakthrough lies in the use of machine learning to predict movements in the blockchain, enabling more advanced calculations. This pioneering research process uses quantum computing technology, advanced cryptography, deep learning, artificial intelligence, and FPGA and ASIC design.
During a recent conversation with QBT’s chief specialist Thomas Warner, Francesco Gardin revealed more information about this innovative technology. Through collaboration with experts from North America, the company has a strategy called “MSFCA” or “ASIC Enhanced Boost”, which allows miners to start work on the next block before finishing the current one. QBT believes that this method saves both time and computational power.
However, most importantly, QBT’s innovations have the potential to solve one of the main problems in Bitcoin mining – waiting for the next block. Although the MSFCA method does not directly accelerate SHA256 calculations, it allows for certain anticipatory actions, optimizing energy consumption. The secret lies in minimizing the use of specific components on the ASIC chip.
Despite certain technical challenges, QBT has high hopes for the success of the MSFCA method. Their “Method B” allows searching a vast range of terahashes within the standard ten-minute block window, directing searches to places where potentially “winning” hashes can be found. In conjunction with machine learning and mathematical techniques, this method selectively chooses hashes from the most promising areas.
QBT experiments indicate that Method B identifies “winning” hashes 260% faster than traditional methods while reducing energy consumption by about 4.3%. Meanwhile, Bitcoin’s hashrate has risen to record levels, approaching half a zettahash. As of writing this article, the Bitcoin network has a hashrate of 358.58 exahash per second (EH/s). Mining industry giants, such as Bitmain, Microbt, and Canaan, are competing with each other, producing equipment equipped with ultra-efficient chips.
The future of Bitcoin mining seems bright thanks to innovations like those introduced by QBT. Such technologies are expected not only to speed up the mining process but also make it more sustainable and environmentally friendly.
