Quantum Blockchain Technologies (QBT), a UK-based research firm, has developed artificial intelligence (AI)-based algorithms that could significantly increase the likelihood that some Bitcoin ASIC miners will mine (bitcoin), according to its CEO, Francesco Gardin, in an interview with Cointelegraph.
Gardin explained how QBT integrates artificial intelligence to enable intelligent search for winning hashes as an alternative to traditional random searches.
Over two years, the company has developed several patented methods, drawing on the expertise of nearly 20 experts in the fields of quantum computing, machine learning, cryptography, ASIC chip design, and algorithm optimization theory.
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QBT’s machine learning teams developed two different algorithmic search methods that reportedly improve the performance of ASIC miners by increasing efficiency and probability of success.
“Method A” increases miners’ productivity by 10%, while “Method B” increases the probability that a miner will find a valid result by 260%.
Gardin said the company is exploring three specific areas, starting with the near-term goal of improving the mining performance of existing commercial ASIC chips by adding an AI software component that runs on top of a mining rig.
The team is also designing a new ASIC mining chip architecture to optimize its Bitcoin mining. specification As detailed in a recent patent application.
In parallel, QBT hasaim Long-term use of quantum computers for Bitcoin mining using an undeveloped SHA-256 computing method capable of operating in quantum computer systems.
In July 2023, QBT announced a patent application for the latter, outlining its architectural change to Bitcoin mining ASIC chips, which it claims preprocesses the data used by future blocks of the Bitcoin blockchain.
Gardin said that QBT Message Scheduling for Cryptographic Hashing ASIC (MSFCA) is able to precompute future blocks of BTC before the current block is closed. The “advanced resource efficiency algorithm” reduces the logical gates of the SHA-256 ASIC architecture.
Logic gates are software or hardware devices that perform logical operations. According to Gardin, MSFCA allows miners to use fewer logic gates, reducing energy costs and increasing the efficiency of ASIC mining hardware.
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The firm estimates that miners can free up up to 8% of the logic gates of SHA-256 ASIC chips by preprocessing the data used by future blocks of the Bitcoin blockchain; Bitcoin blockchain ASIC chips.
Gardin also commented on whether these new methods are affecting the Bitcoin mining industry. He said that BTC mining, in addition to consuming a significant amount of energy, largely depends on the hardware configurations and hash power of the miners.
Gardin added that the probability of finding positive hash increases with the number and halving rate of a fleet of miners or an entire pool, as well as the corresponding energy cost when conducting a “totally random search.”
“There is no method, intelligence or strategy in today’s BTC mining, only brute force and luck.”
While only a handful of ASIC manufacturers dominate the mining rig market, Gardin believes that significant differences, features or advancements between rigs are minimal, aside from differences in hash rate and power consumption.
First of all, QBT technology developed using Intel’s Blockscale ASIC chips – recently discontinued – benefits any mining rig.
The company’s technologies have been described as providing “a unique advantage” using artificial intelligence and SHA-256 optimization. While QBT has no plans to open source its proprietary methods, Gardin said it is considering several options to bring its solutions to the Bitcoin mining market.
Such alternatives may include subscribing, licensing, forming a joint venture, or directly purchasing the company and related technologies.
Translation of Walter Rizzo