Quantum Blockchain Technologies Advances on Bitcoin Mining Chip Initiatives

Quantum Blockchain Technologies said that the initial phase of the FPGA development has been finished, according to the company. The update brings the company one step closer to its aim of producing revolutionary bitcoin mining technology, which would mine bitcoins both quicker and with less total energy use than existing methods, as described in the last release.

It is necessary to complete the FPGA development phase as part of a two-step procedure in order to create an ASIC chip that will be utilised in bitcoin mining. QBT would now proceed with the development of its ASIC prototype.

When the final industrial ASIC prototype design is finalised, it is expected to surpass the fastest ASIC chip presently in use to mine Bitcoin by at least 24 percent, according to first estimations derived from FPGA performance acquired from internal testing.

‘We will be ready to begin design of our ASIC Bitcoin mining chip in the near future, which, on paper, already exceeds the current best-in-class ASIC Bitcoin mining commercial solution in terms of speed,’ the business said in a statement.

The implementation of the new ASIC ULTRA Boost optimization has resulted in this significant improvement, and we are confident that our second patent application, which is currently being developed by our cryptography expert, will add a further radical improvement to the process, including a reduction in energy consumption.