The old mining coin QUBIC transforms into an AI public chain, which is far more than the next KAS

Written by Weird Thinking, BlockBeats

If we rank the narratives of this round of bull market, AI and Meme are undoubtedly the best.

Since the release of the Sora model by OpenAI in early February, AI coins have been taking turns to pull the market. First, mainstream coins in CEX such as WLD, LPT, ARKM and FET doubled in a week. Then, AI dog projects on the chain suddenly appeared like weeds, including some amazing projects such as GPU that increased dozens of times within a month.

However, after the big drop in April, the prices of most AI coins have fallen by at least 50% compared to ATH, and many small-cap projects have even run away directly, and there are no more dynamic updates on any projects.

Even in the depressed market some time ago, an AI public chain project bucked the trend and attracted community attention. On May 9, it was launched on Gate. It is Qubic.

Restart KAS's "value flywheel"

It should be noted that QUbic is not a new project, but an old "mining coin". The biggest feature of the mining coin is the use of the PoW mechanism. The economic model is similar to the issuance mechanism of Bitcoin. There is no pre-mining and pre-sale. All tokens can only be obtained through mining.

Before listing on Gate, Qubic had been plagued by insufficient liquidity because it could only be traded on specialized PoW exchanges such as SafeTrade.

CoinGecko shows that SafeTrade had only $610,000 in trading volume in the past 24 hours. Although QUBIC/USDT, as the platform's largest trading pair, accounts for 71% of the market share, liquidity is still severely lacking, and the trading spread has reached 0.8%.

The high transaction costs and the lack of trust in the platform are important factors that prevent many retail investors from buying.Last November, a user said in the community, "I want to buy QUBIC, but I don't trust SafeTrade at all," and said that he would rather conduct over-the-counter transactions than deposit money into the exchange. At that time, due to the large number of people buying QUBIC, the server was temporarily unable to handle it, and SafeTrade once closed the trading channel, causing the price of QUBIC to fall 69% from its highest point to $0.0000023. After SafeTrade restored the entry and exit channels, the token price rose again.

After listing on Gate, the problem of insufficient liquidity has finally been alleviated. In the past 24 hours, QUBIC's trading volume on Gate reached 2.91 million US dollars, and the price difference was narrowed to only 0.02%. In the mining coin circle, listing on second-tier exchanges such as Gate seems to have become the "main consensus" and "fixed expectation" of the community to buy mining coins. KAS, a mining coin that attracted widespread attention last year, also started from the small PoW exchange TxBit, then went online on MEXC and Gate, and finally achieved the important leap of listing on Binance contracts.

QUBIC is expected to follow behind KAS and once again walk the "value discovery path" from the third-tier "PoW exchange" to the mainstream trading platform.

AI is the biggest benefit

However, compared with the potential benefits of listing on Binance, the "AI public chain" itself is the biggest benefit for QUBIC.

According to CoinGecko data, the current market value of AI coins is only 35.4 billion US dollars. In comparison, the market value of DeFi is 105.6 billion US dollars, and the market value of the L1 public chain is 2.16 trillion US dollars. The market value of the top 47 AI companies in Web 2 is $9.945 trillion. As Pima emphasizes: "Everyone is talking about the second-level AI, but everyone has a serious shortage of it." From all aspects, we are on the eve of AI Summer.

UPoW (Useful Proof of Work) consensus mechanism

Qubic was initiated by Sergey Ivancheglo ( https://twitter.com/c___f___b ), the founder of IOTA and NXT. Unlike other mining coins, QUBIC adopts a unique UPoW (Useful Proof of Work) consensus mechanism. Next, this article will deeply analyze the design concept and core mechanism of QUBIC, and look forward to its impact on the future development of decentralized AI.

UPoW, as the name suggests, is a kind of "meaningful proof of work". Unlike traditional PoW, UPoW cleverly applies mining computing power to actual AI task processing, so that precious computing power resources are no longer wasted. The UPoW ecosystem consists of four types of roles: Computors, AI miners, Arbitrators, and Candidates. 1. Computors Computors are the core nodes of the QUBIC network, playing the dual role of executing smart contracts and maintaining consensus. Specifically, Computors are responsible for executing transfer transactions on QUBIC's own ledger system Spectrum and participating in voting on the results of smart contract execution. For a result to become a final resolution, it must be endorsed by more than ⅔, or at least 451 Computors.

Each epoch lasts for a week and generates 1 trillion native tokens QU. Most of them will be issued to the current 676 Computors as system incentives. The income of a single Computor depends on the amount of work it completes within the epoch. The greater the workload, the more QU you get, up to 1.479 billion (1 trillion ÷ 676) QU. It is worth mentioning that if a Computor performs poorly, part of the QU it deserves will not be redistributed, but directly destroyed.

2. AI miners

AI miners are "workers" connected to Computors. They obtain AI-related training tasks from Computors, and report the results to Computors after completing the calculations. This process constitutes the core connotation of UPoW. Unlike Bitcoin, QUBIC's "mining" is not a pure computing power game, but AI training, a work of practical value.

In fact, AI miners themselves cannot directly obtain QU incentives. But the computing power they contribute will increase the workload of the bound Computors, thereby helping the latter to obtain more benefits. Computor needs to reasonably distribute part of the income to AI miners in order to attract more miners to join its mining pool and consolidate its position in the entire network. QUBIC has no rigid requirements on the number and performance of AI miners. In theory, there is no limit to the number of AI miners that Qubic can accommodate.

3. Arbitrator

As mentioned earlier, Computor focuses on maintaining the consistency of Spectrum. However, a decentralized system cannot expect Computors to reach a consensus spontaneously. At this time, the Arbitrator is needed to come forward for coordination.

Specifically, the Arbitrator is responsible for selecting the 451 best-performing Computors for each epoch and arbitrating the contributions of AI miners. If it is difficult to reach an effective consensus during the voting process, the Arbitrator has the right to adjudicate the final result. In addition, when an individual Computor fails, the Arbitrator must select a replacement from the Candidates. In short, the Arbitrator is like the "general manager" of the network, specializing in matters that the Computor cannot manage autonomously.

Similar to Computors, Arbitrators can also receive a certain amount of QU as a reward in each epoch. However, the income of Arbitrators is much lower than that of Computors to avoid excessive power and improper motivation. In addition, Arbitrators have no right to interfere in the core affairs of Computors such as smart contract execution and voting, which further limits their space for evil. In general, while maintaining the normal operation of the network, Arbitrators are subject to strict checks and balances, and it is difficult to pose a substantial threat to decentralization.

4. Candidates

Candidates are the reserve army of Computors. They participate in network consensus but have not yet become formal Computors. In each Epoch, the top 256 candidates have the opportunity to be promoted to Computors. Candidates do not receive QU rewards directly, but they can get rewards by being promoted to Computors.

These roles check and balance each other and work together to form the UPoW participant ecosystem, which is significantly different from the single miner role in the PoW mechanism. UPoW has improved professionalism and introduced a check and balance mechanism through the division of roles.

QU Token Economics

Qubic's native token QU is the core of the entire ecosystem. The maximum supply of QU is 100 trillion, and 1 trillion QU will be added every epoch (7 days), mainly used to reward Computors. Transfers on Qubic are free of fees, and the fees required to execute smart contracts are determined by Computors through voting, and these fees will be burned instead of paid to Computors. It is expected that at some point after 2041, the burning rate of QU will reach or exceed the issuance rate, so that the total amount of QU in circulation will reach a stable state and no longer grow.

Artificial Intelligence Platform Aigarth

Aigarth is a decentralized AI platform based on the Qubic network. QUBIC proposed to develop this project in December last year.

Aigarth encourages data providers to upload data through a reward mechanism, and miners use this data to train AI models. A notable feature of Aigarth is the use of an evolutionary algorithm, which allows different AI models to learn and evolve from each other, thereby creating a more powerful AI. According to the official introduction, nearly 550,000 miners have contributed computing power to Aigarth and created billions of neural networks.

Summary

Compared with other mining coins, QUBIC has not only opened up a new development path for itself by transforming its core positioning into an AI public chain, but also provided a model for the integration of the entire blockchain and AI fields.

QUBIC's UPoW consensus mechanism not only improves the actual application value of mining, but also effectively converts the energy consumption of blockchain technology into socially valuable output by using computing resources for AI model training. This innovation not only solves the problem of energy waste in the traditional PoW mechanism, but also provides a new, decentralized source of computing resources for AI research and development.

Any narrative requires a catalyst, and behind AI are OpenAI, NVIDIA and other top Web2 companies.

・NVIDIA's Q1 earnings report will be released on May 22.

・Apple's Worldwide Developers Conference will be held on June 10.

・OpenAI's GPT-5 will be released as early as this summer.

AI will continue to be the best performing asset class in the foreseeable future. As an AI public chain, QUBIC is expected to take advantage of the continuous favorable conditions in the AI industry in the second half of the year.

欢迎加入律动 BlockBeats 官方社群：

Telegram 订阅群： https://t.me/theblockbeats

Telegram 交流群： https://t.me/BlockBeats_App

Twitter 官方账号： https://twitter.com/BlockBeatsAsia