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The British company Quantum Blockchain Technologies said that it has developed new approaches to the mining algorithm that improve the performance of the equipment.
Quantum Blockchain a year ago began experimental bitcoin mining on its own platform using the standard version of the SHA-256 algorithm. In real time, the company’s specialists collected data on the parameters of the production of the first cryptocurrency. Then the resulting information arrays were transferred for processing using machine learning tools and big data analysis.
The results of almost a year of research work led to the deployment of the first two algorithms (method “A” and method “B”). According to the research team, during the testing, method “A” significantly improved the performance of the equipment in terms of speed and power consumption in comparison with the existing approach for mining cryptocurrencies. The second mining method, based on method “B”, allows you to achieve the planned parameters after improving the design of the ASIC chip. Other details in the company are not disclosed.
Quantum Blockchain plans to patent both methods of optimizing the bitcoin mining algorithm by improving speed and energy efficiency in the near future.
In early May, MicroStrategy CEO Michael Saylor criticized the two-year moratorium of the New York state parliament on the launch of new mining farms, calling it meaningless.
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