Home » Quantum Blockchain Technologies Plc – Update on Bitcoin R&D

Quantum Blockchain Technologies Plc – Update on Bitcoin R&D

by admin

November 15, 2022

Quantum Blockchain Technologies Plc
(“QBT” or “we”)

Research and Development cormorantupdate

The Board of Quantum Blockchain Technologies (AIM: QBT) is pleased to update the market with the latest advancements from its research and development (“R&D”) team. This team is working to develop a unique method to create a cheaper, faster and more energy efficient bitcoin. (“BTC”) Miner.

highlight

  • Preliminary results of machine learning method ‘B’ showing 30% improvement over commercial ASIC chip-based miners,

  • Regularities Identified Within SHA-256 Algorithm Show Progress Towards Potential Patent Application

  • Exploring potential third-party licensing strategies to leverage early revenue

  • Appointment of Ph.D. Rita Pizzi as Chief Research Officer

Machine learning and AI

First results obtained by two of our three Machine Learning (ML) groups for the development of our first two knowledge-based algorithms (listed in our RNS date) May 23, 2022 Method ‘A’ and Method ‘B’, etc.) relate to proprietary software accelerators for BTC mining and are currently in a position to undergo intensive testing.

By testing with the current difficulty level of BTC extraction, the computational requirements for validating both Method A and Method B are very difficult. While the company has not ruled out the possibility of using supercomputers for such tests, a more practical approach in the short term is based on using his existing ASIC miners available on the market. . We have already acquired many of his ASIC miners with the intention of replacing the ASIC miner’s control software with QBT’s own software based on Method B.

Additional miners are obtained to test the performance of both Method A and Method B at the current mining difficulty.

So far, interesting preliminary results have been obtained with Method B, which is based on two different combined ML methods. This represents a statistical improvement of up to 30% over his BTC miner based on existing commercial ASIC chips. In other words, regardless of the performance of his ASIC chips used by miners, the company’s proprietary software can statistically increase mining speeds by up to 30% without affecting miners’ power consumption.

Once the performance of Method ‘A’ and/or Method ‘B’ algorithms is confirmed, the goal is to run them on existing commercial miners by replacing the native control software with QBT’s own control, as described above. to improve performance. software. Based on our current test data, we expect immediate improvements in the overall performance of our mining rigs without the need for additional hardware investments.

To ensure the success of this approach, we are also working on minor operating system control software changes.

quantum computing

We see great potential in our approach to quantum computing, but it will take several years before a sufficiently powerful quantum computer becomes available and we can take full advantage of that approach. I think it will take years.

In the meantime, QBT continues to refine the quantum algorithms it has developed.

SHA-256optimisation

We continue to work closely with cryptography experts who have been consulting QBT for 18 months now. Recent findings on local improvements in SHA-256 computation are now being collated to reach critical mass. May 23, 2022 RNS) may warrant the filing of new patent applications specifically related to its own ASIC implementation.

FPGA/ASIC

FPGA/ASIC input/output interfaces and intra-ASIC communication protocols are being developed while waiting for confirmation of integration results from both cryptography experts and the ML R&D team.

At the same time, several performance evaluations of various architectures that can be included in an ASIC design implementation of Method ‘B’ are currently being evaluated preliminarily, and the results are likely to prove the efficiency of this hardware implementation method. Expected.

IT infrastructure

Over the past few months, our IT R&D platform has improved to reach nearly 100,000 GPU cores. In addition, the first set of 100TH/s ASIC miners have been obtained and ML Method A and Method B mining software will be installed soon.

As mentioned above, more ASIC miners may be acquired soon, speeding up the testing of method ‘A’ and method ‘B’.

Chief Research Officer

QBT recently Dr. Rita Pizzi, as its Chief Research Officer. Dr. Pizzi is a former Senior Research Fellow and Professor of Artificial Intelligence and Data Analytics in the US Department of Computer Science. milan University (http://pizzi.di.unimi.it/CV.html). While responsible for coordinating multiple research teams, Dr. Pizzi Francesco Gardin, Chairman and CEO of QBT. Dr. Pizzi will not serve on the Board at this time.

Dr. Pizzi has been with us for about 18 months.

research and development tax relief

The company has received £109,000 from HMRC as part of HMRC’s ‘R&D Tax Concession’ scheme, net of advisory fees and commissions, as a contribution to 2021 R&D spending. A similar application is expected to be made in early 2023 for 2022 R&D funding.

Francesco GardinQBT CEO and Executive Chairman commented: Whilest The company continues to explore direct mining, a more immediate and less capital-intensive approach. teeth Utilize mining proceeds with existing BTC miners who are permitted to adopt company methods under license B. control software. We are currently explore this route.

“In order to achieve competitive results, we are undertaking very rigorous research and development. A validation experiment against the hypothesis of the discovered regularity teeth Discrepancies in the timing of result confirmation between discovery and its confirmation, as it is very demanding.

“Therefore, we are very pleased that such regularities and correlations have been identified despite the lengthy time it has taken to validate this approach. The ability to control commercial ASIC mining chips could provide a tactical shortcut to generate revenue, allowing companies to continue with their own ASIC chip designs and Q.Wantam C.Computational Algorithms, Until Available qWantam ccomputer with enough qyouBits for running software.

For more information, please contact:

Quantum Blockchain Technologies Plc
Francesco GardinCEO and Chairman +39 335 296573

SP Angel Corporate Finance (Appointed advisor/broker)
Jeff Keating +44 (0)20 3470 0470
Kasia Brzozovska

Leander (Financial PR)
Christian Taylor Wilkinson +44 (0) 7795 168 157

About Quantum Blockchain Technologies Plc

QBT (AIM: QBT) is an AIM listed investment firm that recently realigned its strategic focus on technology-related investments, with a particular focus on the quantum computing, blockchain, cryptocurrency and AI sectors. We have launched an active R&D and investment program in the dynamic world of blockchain technology, including cryptocurrency mining and other advanced blockchain applications.

Glossary

ASICs: An application-specific integrated circuit is an integrated circuit chip customized for a specific application rather than general purpose. ASIC chips are typically manufactured using metal oxide semiconductor (MOS) technology as MOS integrated circuit chips.

FPGA: A Field Programmable Gate Array is an integrated circuit designed to be configured by a customer or designer after manufacture. Hence the term “field programmable”. FPGA configurations are typically specified using a hardware description language (HDL), similar to those used in application-specific integrated circuits (ASICs).

GPUs: A graphics processing unit (GPU) is a computer chip that performs fast mathematical calculations to render graphics and images.

hash: A hash is a mathematical function that converts an arbitrary-length input into a fixed-length encrypted output.

SHA-256: Secure Hashing Algorithm (SHA)-256 is a hashing and mining algorithm for the Bitcoin protocol and refers to a cryptographic hash function that outputs a value of length 256 bits.

Cubit: A conventional bit has two states, either zero or one. However, a qubit or qubit can have a kind of zero and one state at the same time. This situation is called superposition of (quantum) states. Qubits have some very special properties. For example, you can’t make a copy of a qubit.

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