Quantum Blockchain Technologies’ (LON:QBT) latest UK patent application could be a major breakthrough in Bitcoin mining says the technology investment company CEO, Francesco Gardin.
Quantum Blockchain is essentially a support stock in the crypto world. It describes itself as an investment company focusing on the technology sector, although like Bitcoin, it has had a number of its own iterations. Previously operating under the name, Clear Leisure, it started life investing in leisure and Italian real estate.
Recently Quantum Blockchain has launched a Bitcoin mining R&D programme. Funded by £1.7 million in two equity raisings this year, the primary goal of the R&D programme is to develop Bitcoin mining tools and techniques which will significantly outperform existing practices as well as creating energy saving techniques.
Quantum’s first and only patent application so far, the ASIC UltraBoost, (ASICs being the components used for Bitcoin mining) aims to eliminate redundant computation of a key part of the Bitcoin mining algorithm, resulting in a faster and more efficient mining process. It builds on all other existing optimisations in the market, including ASIC Boost.
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