Market Research and Analysis of Layer1 Public Chain QUBIC
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Bitget2024/07/01 06:19
By:远山洞见
1. Project Introduction
Qubic (QUBIC) is a Layer1 public chain based on the UPow consensus algorithm, dedicated to building an efficient, secure, and scalable blockchain network to support the high-speed execution of artificial intelligence (AI) and smart contracts. The design concept of Qubic stems from an in-depth study of the bottlenecks in existing blockchain technology, aiming to address the shortcomings of traditional public chains in terms of processing speed, energy efficiency, and security.
The core technology of Qubic is the UPow consensus algorithm, which combines the security and decentralization features of Proof of Work (PoW) while optimizing energy efficiency and transaction speed. The Qubic team believes that through this innovative algorithm, a blockchain network that ensures security and high performance can be created to meet the needs of large-scale applications in the future.
2. Project Highlights
As a Layer1 public chain based on the UPow consensus algorithm, Qubic has the following highlights:
1. UPow Consensus Algorithm. Qubic adopts the UPow consensus algorithm, combining the security and decentralization features of Proof of Work, attracting a large number of miners, and enhancing the security and stability of the network.
2. AI and Smart Contract Support. The project is specifically optimized for AI applications and the high-speed execution of smart contracts, providing efficient computing resources and fast transaction confirmation.
3. Multi-Platform Support. The Qubic ecosystem includes web wallets, Chrome extensions, desktop software, and mobile software, providing comprehensive support and a convenient user experience.
4. Unique PoW Mechanism and Miner Community. The project is based on the PoW (Proof of Work) mechanism, attracting a large number of miners and forming a vast miner community. This not only enhances the security and decentralization of the project but also further promotes the project's activity and community participation.
Through these highlights, Qubic demonstrates its unique advantages in technological innovation, user experience, and network security, providing users and developers with an efficient, secure, and powerful Layer1 public chain.
3. Market Value Expectation
Qubic adopts an innovative UPow consensus algorithm, optimized for AI and smart contracts, with multi-platform support ensuring an excellent user experience. The token economic model maintains scarcity and stability through a burn mechanism and smart contract IPO. The team and active community support provide a solid foundation for future development.
With technological advancements and an expanding user base, as well as shifting market attention, Qubic's market value may continue to grow, becoming a leading project among Layer1 public chains and bringing significant market returns.
4. Economic Model
The Qubic project token is QUBIC, with a circulation cap of 1,000 trillion tokens, issuing 1 trillion tokens every 7 days, distributed to computers. If the circulation of QUBIC reaches 999 trillion, a plan to burn 1 trillion QUBIC weekly as execution fees will be initiated to ensure that 1 trillion tokens can be issued to computers every 7 days.
Moreover, the economic model has many advantages. All QUs used for executing smart contracts and other services will be burned rather than paid to entities within the system. This mechanism helps control the token supply and avoid excessive inflation. The execution of smart contracts requires a certain commission, which is also achieved by burning QUs.
Transfers within the Qubic network are fee-free, improving network efficiency and user experience. The "fees" for executing smart contracts are actually the burned QUs, further reinforcing the concept of QUs as "energy" rather than currency.
Every new smart contract on Qubic requires an initial public offering
Initial Public Offering (IPO). This is a mechanism to control the supply of QUs. The QUs spent during the IPO will be permanently burned, ensuring a continuous reduction in the active supply of QUs.
Qubic ensures the stability and sustainability of the token economy through these mechanisms, featuring uniqueness and innovation.
5. Team and Funding
Qubic is a community-driven project with fully open-source code. It was founded by Sergey Ivancheglo (also known as Come-From-Beyond), the creator and co-founder of the first complete PoS and DAG protocols (NXT and IOTA).
Qubic adopted a fair launch model with no pre-mining or venture capital involvement. Since April 2022, the Qubic mainnet has been officially operational, and over 10.5 trillion $QUBIC have been burned in three smart contract IPOs to date.
6. Risk Warning
1. The cryptocurrency market is highly volatile, and investors should be aware of the risks associated with market price fluctuations.
2. Despite Qubic's advanced technology, there are still risks of technical vulnerabilities and hacking attacks, which may impact the project's operation.
7. Official Links
Website:
https://qubic.org/
Twitter:
https://x.com/_qubic_
Telegram:
https://t.me/qubic_network
