Quantum Blockchain Technology (QBT), a U.K.-based research firm, has developed artificial intelligence (AI)-backed algorithms that can significantly improve the performance of certain ASICs, CEO Francesco Gardin said in a report. Mining win probability for Bitcoin (BTC) miners. Interviewed by Cointelegraph.
Gardin reveals how QBT incorporates artificial intelligence to enable intelligent searches of winning hashrates as an alternative to traditional random searches.
Over the past two years, the company has developed a variety of different patented methods using the expertise of more than twenty experts in quantum computing, machine learning, cryptography, ASIC chip design and algorithm optimization theory.
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QBT’s machine learning team has developed two different algorithmic search methods that reportedly improve the performance of ASIC miners by increasing the efficiency and probability of winning outcomes.
It is said that “method A” can increase the efficiency of miners by 10%, while “method B” can increase the probability of miners winning by 260%.
Gardin said the company is looking to explore three specific areas, starting with a short-term goal of improving the mining performance of existing commercial ASIC chips by adding software artificial intelligence components that run on mining rigs.
The team is also designing new architectures for ASIC mining chips to optimize Bitcoin mining, detailed in a recent patent application.
Meanwhile, QBT has a long-term Target Bitcoins are mined using quantum computers, using the SHA-256 calculation method that is being developed to run on quantum computing systems.
QBT announced the latter patent application in July 2023 outlining architectural changes to its bitcoin mining ASIC chip, which it claims can preprocess data for use by future blocks on the bitcoin blockchain.
According to Gardin, the QBT Cryptographic Hash Message Scheduling ASIC (MSFCA) is capable of precomputing future BTC blocks before the current block is closed. The “Expected Resource Efficiency Algorithm” reduces the logic gates of the SHA-256 ASIC architecture.
Logic gates are software or hardware devices that perform logical operations. MSFCA allows miners to use fewer logic gates, reducing energy costs and increasing the efficiency of ASIC mining hardware, Gardin said.
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The company estimates that by preprocessing data used by future blocks on the Bitcoin blockchain, miners can free up as much as 8% of the logic gates of SHA-256 ASIC chips, which will make some of the logic gates involved in the calculation of that data no longer available. Requires on ASIC chip.
Gardin also weighed in on the potential for these new approaches to impact the bitcoin mining industry. He said that BTC mining is highly dependent on the hardware configuration and computing power of miners, and consumes a lot of energy.
Gardin added that the probability of finding a winning hash increases with the number and halving speed of the miner team or entire mining pool, and the corresponding energy cost when conducting a “completely random search.”
“There is no method, no wisdom, no strategy in Bitcoin mining now, only brute force and luck.”
While only a handful of ASIC manufacturers dominate the mining equipment market, Gardin believes there are very few differences, features, or apparent advancements between the hardware, other than differences in hashrate and power consumption.
He added that QBT’s technology was primarily developed using Intel’s Blockscale ASIC chip, which was recently pull Starting with production – will give any mining rig an edge.
The company’s technology is touted as using artificial intelligence and SHA-256 optimization to provide “unrivaled advantages,” and while QBT does not intend to open source its patented method, Gardin said that QBT is considering different options for bringing its solution to bitcoin mining. mining market.
This may include subscribing, licensing, forming a joint venture or outright purchasing the company and its related technology.
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