Qubic Protocol

Basic Product Info

Name

Qubic Protocol

Type

Protocols

Description

Qubic is a protocol that specifies IOTA's solution for oracle machines, smart contracts, outsourced computations, and more.

The Qubic protocol specifies the construction, execution, and evolutionary life-cycle of qubics. It leverages the IOTA protocol for secure, decentralized communication between the various participants. Additionally, since IOTA has its own built-in payment system, IOTA tokens are used to provide an incentive system for qubic operators. Anyone can decide for themselves at what threshold a reward becomes interesting enough to participate.

Qubic offers a great incentive for people to run nodes: let others use spare computational power or storage capacity, thus providing a useful service, and get paid to do so. Q-nodes can give new life to old, abandoned PCs, and they can provide traditional cryptocurrency miners with a way of monetizing equipment by doing useful computations instead of solving meaningless (and wasteful) cryptographic puzzles.

In the future, Qubic will leverage this world-wide unused computation capacity to solve all kinds of computational problems. Qubic is optimized for IoT - low energy consumption and a small memory footprint - but that does not preclude large-scale computations, especially for computations that may be parallelized and distributed over a large number of processors.

Status

In Development

Date launch

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